Management Accounting Strategies and Financial Performance of Listed Brewery and Food Product Manufacturing Companies in Nigeria

The study examined management accounting strategies and financial performance of listed brewery and food product companies of Nigeria. The specific objective of the study was among others; to examine the relationship between cost control and reduction and earnings per share of listed brewery and food product companies of Nigeria. Also, to examine the relationship between cash management and earnings per share of listed brewery and food product companies of Nigeria. Ex-post facto research design was employed. Population of the study is seventeen (17) listed brewery and food products manufacturing companies on the floor of the Nigerian Stock Exchange (NSE) as at 31 August 2022. A total of thirteen (13) companies were operating within period of 2012 to 2021 and have financial statements available and assessable to date, which give the accessible same size of the study. The instrument of the study is secondary data. The formulated research questions were analyzed with descriptive statistics, while simple regression analysis was adopted to test the hypotheses. The findings of the study among others were that; there is significant relationship between cost control and reduction and earnings per share of listed breweries companies of Nigeria. There is significant relationship between cash management and earnings per share of listed breweries companies of Nigeria. From the findings the following recommendations were made among others; from practice perspective, this study recommends the continuous invention and enhancement of cost reduction and control practices, as it is one of the most highly used management accounting practice by brewery and food product manufacturing companies that contributes significantly and positively to financial performance. There is need to create awareness on the impact of cash management on financial performance of brewery and food product manufacturing firms in Nigeria. Brewery and food product firms should also continue using cash management in order to identify financing and investing opportunities. For continuous contribution of inventory management on financial performance of brewery and food product companies, there should be a cut-off date in order to ensure that there is no transaction that takes place during the inventory cycle count activities, which ensures that the records of physical stock and the recording system are accurate.