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Abstract

This study was carryout to evaluate the connection between cost accounting practices and financial performance of listed food and beverages companies in Nigeria.This study utilized a descriptive survey research design as its methodology, with the Resource-Based View (RBV) theory serving as its foundation. Triangulation was used to gather data for the research from many sources, including primary and secondary sources. Only 127 of 135 surveys addressed to workers at selected Nigerian food and drink enterprises had replies; only 120 valid returns were retained for main data analysis, alongside with the corporations' annual financial statistics for the years 2016–2023. We used the regression approach, computed the Pearson product-moment correlation coefficient, and conducted descriptive statistics using SPSS version 22.0. There was a weakly positive correlation between cost accounting practices and financial performance for listed food and beverage companies in Nigeria, according to the empirical study. Furthermore, net profit margin was found to be positively correlated with activity based costing and target costing, but negatively correlated with standard costing. The study concludes that there is a significant relationship between cost accounting practices and financial performance of listed food and beverages companies in Nigeria. The study recommends that there should be proper Routine training of staffs on modern cost accounting practices to enhance effective cost control and cost reduction resulting to improve financial performance. Proper cost accounting practices policy should be embarked upon by policy makers as it will greatly impact on financial performance of the company amongst others..
Keywords:  Standard Costing, Activity-Based Costing, Cost Accounting Practices, Target Costing, Net Profit Margin, Financial Performance.