Application of Competitor Focused Accounting (CFA) Method as Competitive Advantages in Foods and Baking Enterprises in Kano, Jigawa and Bauchi States of Nigeria
- March 29, 2019
- Posted by: RSIS
- Category: Social Science
International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue III, March 2019 | ISSN 2454–6186
Sabo Usman; Musa Muhammed Bello
Abstract:-The paper explores the application of competitor focused accounting (CFA) method as competitive advantages in foods and baking enterprises in Kano, Jigawa and Bauchi states of Nigeria. The population of the study is made up of all foods and baking enterprises in the three states out of which nine (9) enterprises three (3) from each state have been selected to form the sample of the study. The one-sample t-test and the frequency table have been used in the analysis of the data. Ninety (90) questionnaires have been administered out of which seventy eight (78) have been collected. The findings of the study reveal that all aspect of competitor focused accounting method captured in the study (Competitor Cost Assessment, Competitor Position Monitoring, Competitor Appraisal based on Financial Statement) are significantly used in the foods and baking enterprises in the three (3) states. It is recommended that the competitor focused accounting method should be more formally used in food and baking enterprises in the states. Finally, they should introduce comprehensive accounting system by ensuring that record keeping and preparation of financial statements is given utmost regards as it has received less concentration.
Keywords: Competitor Focused Accounting (CFA) Method, Baking Enterprises, Competitive Advantages, Kano, Jigawa and Bauchi States of Nigeria.
I. INTRODUCTION
In half a century, the world economy has witnessed dramatic changes in technology, communication and constant elimination of territory as a barrier to trade. These changes have led to increase in production, competition and customer preference. Therefore, manufacturing companies encountered incessant challenges of how to survive and sustain as a profit making entities. The first advocate of the term “strategic management accounting” Simmonds (1986) held that for such firms to survive the intense competition of today, they most look outward, keeping their eyes open on the external environment, particularly, the activities of competitors. The competitors position in the market most be monitored. The firm most strive to know the likely market share, volume of sales, unit cost and profitability of its competitors. By doing that however, a firm will understand by how much it is been beaten in the market place and thus, its own position is guaranteed.
