The Role Of Accountant In Pricing Strategy Formulation

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Project and Seminar material for Accountancy

Project and Seminar material for Accountancy


This work wholly dedicated to God Almighty who by his infinite grace and mercy towards my life made it possible for me to be alive even up till now to present this project.


This project work will not be completed if I fail to express my profound gratitude to my beloved parents Mr. & Mrs. HYCIENTH OKEREKE whose moral and financial supports are too numerous to mention.

My project supervisor, Mr. UZOMA IBEAJA is not left out because of his advice and guidance.

My gratitude also goes to my Brother Mr. and Mrs. Emmanuel Okereke, Christian Okereke Damian Okereke, John Okereke and my beloved sister Mrs. Evelyn Ndefo and Juliana Okereke for their advice and immeasurable support towards my academic studies in writing of this project work . May God see them through Amen.

My thanks also goes to my relatives friends and well wishers for their excellent contribution towards this project work. God bless you all.

Okereke Agatha Okwuchi


In any flourishing business today, pricing has been their key function. This is so because the rate with which modern business is growing coupled with the worldwide inflationary trends, more dimensions will be added to the problem of pricing. In any market economy where goods and services are traded, pricing is very crucial as the prime mover of traded, for instance, pricing ration out scarce good. This is a rise in price of good indicates that the good is in relative short supply.

Pricing can be used to discourage unnecessary pressure on some commodities, this is price serving as a mater or gauge. Price indicate the direction of want and also pricing as a means by which factors of product are awarded and as a result, many professionals in business are beginning to play major roles in pricing decision and pricing strategy formulation.

The objective of this research is to investigate whether accountants have any contribution in pricing strategy formulation with particular reference to selected manufacturing firm in Onitsha.

The problems staring the business world in face which the researcher has taken upon, herself to provide answers are:

  1. Is pricing strategy formulation a management problem?
  2. Does accountants have any role to play in pricing strategy formulation, if yes to what extent?
  3. What measure can the accountant adopt in solving the problem of pricing strategy formulation since if poses across department problem.

The depth of the study is to find out answer to the above questions.

In conclusion, Since pricing strategy formulation poses inter-department problem on whose right is to take pricing decision, it was shown that accounts are important in resolution of the problem of pricing strategy formulation, in a decision making process involving consideration of company law, taxation labour agreements and trades regulation in business operations, therefore the accounts need not to be confined to financial information contained in ledger accounts only.

Table Of Content

  • Title Page
  • Approval Page
  • Certification Page
  • Dedication
  • Acknowledgement
  • Abstract-
  • Table of contents

Chapter One

  • 1.0 Introduction
  • 1.1 Statement of the problems
  • 1.2 Purpose of the study
  • 1.3 Objective of the study
  • 1.4 Scope of the study
  • 1.5 Assumptions of the study
  • 1.6 Limitations of the Study
  • 1.7 0 Definition of terms

Chapter Two

  • 2.0 Literature Review
  • 2.1 Historical Background of Research Problem
  • 2.2 Theories and models relevant to the research
  • 2.3 Current literature based on variables of the Models
  • 2.4 Summary of the Chapter

Chapter Three

  • 3.0 Summary, conclusion and recommendation
  • 3.1 Summary
  • 3.2 Conclusion
  • 3.3 Recommendation
  • 3.4 Areas for further study
  • Bibliography.

Chapter One

1.0 Introduction

Pricing is one of the elements of the marketing mix in any market economy, where goods and services are traded, price is the watchword. It is one variable that is crucial to both seller and buyer.

According to Kalu (1995:138) any commodity that has the capacity to satisfy human wants is said to possess utility. The power of such utility or of the goods possessing if to command other goods in the normal or regular exchange is its value.

According to Clarke (1981:79) price seller’s views pricing as the incredible three-headed monster, he went further to say that each one is independent of the other. One of the heads is concerned with marketing and views pricing as a tool for gaining entrance to the market improving market penetration and positioning product in the market.
The second head is that of the accountant who thinks solely of the units cost and contributions. This head has a fine eye for design and calculates cost for each component of every product.

While the accountant sees himself as the custodian of profit and in ever suspicions of price cutting measures of marketing. He believes that salesmen lack courage and so need to become firm if profit margins are not to be crowded.

The third-head according to him is that of micro economist. He is sometime referred to as price theorist who is devoted to the study of the determinants and dynamic of price under various market structures. He is mostly concerned with demand and supply curves and theoretical models.

In practice however, the heads ignored him completely, his literature has an air of unreality more akin to academic than to the pressing affairs of business life. The first two heads does not understand the pressured words marketing and accounting and his approach is too theoretical to be for practical use.

1.1 Statement Of The Problem

The problem of this study is to investigate on the role accountants play in pricing strategy formulation in selected firms in Anambra State. Beside, this work focused on finding whether the accountants plays a vital role in pricing strategy formulation or not and if yes, to what extent is he directly involved.

According to Thompson (1981:13), Pricing strategy can be thoughts as an interconnected web of actions, decision and plans, which are formulated and pursued by all levels of management, hierarchy in order to attain a justifiable selling price per unit of output provided by a firm.

It is glaringly clear that pricing strategy formulation poses a cross-departmental problem and is not in the background of this study. The accountant is important in resolution, is a decision problem and the accountant being involved in production relevant information for decision making has a major role to play in pricing decision. He is concern with application of his professional skill and relevant information available to him to help the management to formulate an acceptable pricing strategy, which does not, over role all objectives of the firm.

1.2 Purpose Of The Study

The purpose of this study is of three fold

  1. The study seeks to examine the role accountants play in pricing strategy formulation as this poses a cross department problem.
  2. The study seeks to examine how accountants would fashion their accounting system in terms of allocating cost with a view to obtain a valid pricing decision.
  3. Finally, a deficiencies or what you mean in the system will be revealed and we shall recommend measured that the problem of pricing should adopt in solving the pricing strategy formulation bearing in mind the effects of other economic and environment variables.

1.3 Objective Of The Study

The objective of this study is to research on the role accountants plays in pricing strategy formulation, whether they plays a vital role in pricing strategy formulation or not and if yes, to what extent is he directly involved.

  1. To use the application of his professional skill and relevant information available to him to help the management to formulate an acceptable pricing strategy.
  2. Knowing the proper way of determining price setting.
  3. To impact upon the organizations’ customers in terms of satisfaction, product performance and meeting individual and societal wants.
  4. Having the basic method of arriving at prices is being adjusted to meet certain market condition and bearing in mind the factors that affect prices of products.

1.4 Scope Of The Study

This research project covers only on some selected firms in Anambra state. Though this does not represent a good estimates of manufacturing firms but the choice has been necessitated by the location of the firm therefore, this project is only limited to the role of accountants in pricing strategy formulation.

1.5 Assumptions Of The Study.

The following assumptions were made for the purposes of this study.

  1. Skimmer S.J. (1996:59) that information needed for pricing discussion is being provided by the Accountant.
  2. According to Baker (1984:157) that there are only two broad strategy approaches to price which are:
    • Skinning Approach
    • Penetration Approach
  3. – According to Kotler (1980):389) actual setting should be based on three factors cost namely.
    • Demand-Oriented Pricing
    • Cost – Oriented pricing
    • Competition-Oriented pricing
  4. – According to Hagen, D.C. (1974:104) that before setting price, the decision makers considered the reaction of the following.
    • Distribution
    • Suppliers
    • Competitors
    • Government
    • Company Executives.
  5. According to Kotler (1980:46) that pricing strategy formulation revolves round the following.
    • Organizational competence and resources.
    • Personal values and aspiration
    • Environmental threats
    • Societal obligation and ethical consideration.
    • Product market opportunities

1.6 Limitations Of The Study

There are many constraints to be the completion of this research work but for the purpose of this study, the following factors should be considered.
The major factor that constraints the extent of the study carried out on this project work is time factor.

1.7 Definition Of Terms


The world “accounting” in this project means the financial or management accountant who is involved in decision making and who is assumed to be the top management level.

Competitive Market:

One could say the market is a competitive one if it has the following characteristics as was defined in economics.

  • The product of one seller must be identical in the opinion of the purchases to the product of other sellers.
  • Market participants whether buyers or sellers cannot influence individually, the market price of the product by their actions.

Economic Order Quantity (EOQ):

This is the quantity of inventory at the point where inventory ordering cost and caring cost is at minimum.


A firm is used synonymous with company throughout the whole of this project.


The locality here refers to Onitsha and its environment.

Price Setters:

This is referred to those who take pricing decision in a company.


This is an approach that is based on the assumption that if you can produce a similar product to your competitors then you will take away some or his entire market share.

Selling Price:

This is referred as the setting or unit product of a company. It is different from cost per unit of input used in production process.


This is recognition that in almost all markets, there is “hard core” of demand for whom the product is question has a particular importance.

I bet you, the complete material is fully loaded. This is just an excerpt. The Material is in MS-Word Format which you can easily edit and is comprehensive for a complete research work for this topic

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How to nail it on the head during your project / seminar defence

You are through with writing that project / seminar. Now what?

You have found yourself at that point where you have to defend what you have written. Of course you have to stand in front of your supervisor and other literary personalities to prove that you know what you wrote in your project paper. Unfortunately, the more you think about it, the more it looks like you are about to face a legion. It is not a war. But the emotion of dread welling up inside of you makes it look like one. So now you are asking yourself questions.

  • How am I going to start?
  • I hope I will do well enough to get an A.

You really want to nail it, but you need to come to terms with exactly how to get everything in perfect control. Especially your emotions of fear that seem to make a wreck of you every time you think about public speaking.
So here is the deal. I want to help you avoid that feeling that would ruin your precious moment if you dare to let it. And we are going to do it together.

I am going to highlight some very important tips to help you get in control for you to be comfortable enough to move from that feeling of DREAD to CONFIDENT; and making an awesome Impression for that great rating your supervisors should be giving to you so freely.

Consider these tips as you prepare for your defence. We will be taking them one after the other so here we go.

Watch Your Body Language And Keep It Confident:

Can you tell that a person is falling apart if they look confident? … If I can second guess you rightly, am sure you answered no to that question. Remind yourself that you need to come out that way. Now this might seem like a huge big deal when you are dealing with the foreboding. Maintaining a poise of confidence is very important. So find your most comfortable position, sitting or standing and draw up your body. You must exude confidence. It is something you need to do for yourself. People can only see what you allow your body language to show. So you must endeavour to put that out. Remember the story of David and Goliath? … At the end of your defence day, you want to be David.

Dress In Your Most Comfortable And Impressive:

Am sure this one is a no brainer. However I must highlight that you choose comfortable pieces. You don’t want to look so good and yet look like you were forced to wear something that does not belong to you. It’s great to ensure that as impressive as your clothes are on you, that they are also very comfortable.

Speak With Authority:

Going hand to hand with that aura of confidence is your most powerful asset:your words. If you look that confident, your words must not come out like whimpers. To be able to pull this off, you definitely need to speak as deliberately as possible in expressing yourself. Let them also hear what they see.

Use, Your Gestures:

I have often found this to come to my rescue in dealing with shyness and conveying my confidence. Usually it gives you an edge to also drive home your point. You must, however, ensure that you do not over use it. It doesn’t mean that your hands should be flying all over the place. That would be absolutely unnecessary. If you do this well, after a while you will realize that you are not as self-conscious as you used to be at the very start. For most situations, it would have completely disappeared altogether; leaving a really confident you talking.

Have A Good Opening And Closing Line:

Make sure you have perfected a good opening line. You should also be armed with a good closing line too. Try and rehearse it to a friend. If for the first time you presented it, your friend does not say “wow, that’s beautiful” or something like that; just know you need to keep refining it until you get the perfect line. Both opening and closing lines will go a long way in how impressed your panel gets to rate you high.

Make Sure You Know Your Work:

Certainly you should understand how important it is to know your own work from start to finish. Not having in-depth knowledge of your own work is tantamount to a suicide mission. Why should you kill yourself?
When all is said and done, this is what you came to defend in the first place. You should know your work from A to Z.

Prepare For The Questions:

Now this part is truly essential. You must be sure you do not floor all the good work you did on your presentation by not answering correctly. You must pay attention to the questions you are asked to be sure you will give the right answer. Many people get it wrong at this stage and spoil their good presentation. When you do not understand any question do endeavour to ask the person to expatiate what they mean before you answer.

These tips are by no means exhaustive, but applying these tips will give you some necessary advantage you need for a great outcome. Of course that outcome would mean that you eventually earn all your points on this project.

The structure of a good project work

Undergraduate projects in Nigeria is a prerequisite for graduation amongst Nigerian tertiary students who will which to obtain bachelors degree in their respective courses of study such as accounting, banking and finance, business administration and a host of others. Writing an undergraduate project in Nigeria for final year students entails a lot both financially and otherwise. Being able to develop any final year project depends on getting a researchable topic whether it is Accounting Undergraduate project topics, Banking and Finance research topics or banking and finance project topics and materials and it all requires diligent hard work of students who are willing to develop best undergraduate projects in Nigeria and graduate in flying colors.

A typical Undergraduate project in Nigerian tertiary institutions can be said to be divided into five or six chapters depending on the format of the school and course of study which are

1. Introduction

The introduction of an undergraduate project states the main research problem and research argument. What precisely the study is all about and why it is important. It looks at the originality of the research work and how it will fill the gap in other studies. Justification for a research undergraduate topic should not be lengthy before it has been explicitly stated.

Below are the contents in chapter one of an undergraduate research project which includes;

  • Background of the study,
  • Statement of the problem,
  • Objectives or aims of the study,
  • The research questions,
  • Research hypothesis,
  • Significance of the study,
  • Scope of the study,
  • Limitations of the study and
  • Operational definition of terms.

2. Literature review

Literature review of any undergraduate research work, be it business administration project topics or Economics project topics just to mention a few is very critical to securing a high grade in one’s project work. The literature review of a research process uncovers what other writers have written about the student’s topic. A student’s undergraduate research work should include a discussion or review of what is known about the subject and how that knowledge was acquired. The review could conclude with a brief summary of the literature and its implications. The contents of the literature review are the theoretical review, conceptual framework, empirical review and summary of literature review.

3. Research Methodology

This section includes a description of the research methods used in the undergraduate research work such as the sample size, data collection methods, measurement instruments, research data analysis procedures and the population from which the sample was selected.  This section also describes the method used in selecting the sample or samples, validation and reliability of the instruments used in the research work. There are different research statistical techniques used in undergraduate research work such as SPSS, e-views etc.

4. Results & Discussion

This section presents and discusses the data analysis results used in an undergraduate research work, the results of each analysis is being summarized, tabulated, and then discussed for each research question.  Then for each research hypothesis, the statistical test of significance selected and applied to the data is briefly described, followed by a statement indicating whether the hypothesis was supported or not supported.  In presenting the result analyses/summary in an undergraduate project tables and figures and or graph are used to add clarity to the presentation.

5. Summary, Conclusions And Recommendations

This section summarizes the findings of the study in an easy to understand manner.  It also explains the practical implications of those findings, and points to recommended directions for future research in that area.


This is where every source cited in the undergraduate research work is being included. Every undergraduate research work must be properly referenced for its authenticity.

Choosing A Good Project / Research Topic

Students in Nigerian universities these days wish to choose a very simple project topic/material. There is no issue choosing a simple project topic; the only problem is your ability to choose a good project or research topic that your supervisor will easily approve for you.

Most project supervisors really want to see how good his or her project student understands his or her surrounding through the kind of topic he or she chooses for their project work.

There are some project topic that are not reject-able; for instance in Nigeria of today; what do you think is the major issue on ground now?

If a project student can choose or craft a topic on the effect of dollar increment on the economy of Nigeria. Such project topic will be very interesting to write on.

Now what are the qualities of a good project topic?

  1. The materials for the project topic must be easily assessable.
  2. The project topic itself must be meaningful.
  3. The variables must be able to give a clear aim of the project topic.

What do I mean by variable?

Well I am deriving my point from the area of project writing; the variables here are those main words in the project topic.

Like the above project topic; the effect of dollar increment on the economy of Nigeria. You can see the main variables that really define this project topic are:dollar, increment and economy.

Before you present your topic to your project supervisor, first of all understand your project topic, and then secondly try to do some research for your topic to see if at least you can get up to 60% of what you need to write the complete project.

I said that above because you might have a very nice topic that the materials are not available online and there are no books as regard the topic; in this case the project topic becomes difficult for you even though the topic is catchy.

What do I mean by your topic being assessable?

Well what I mean is very simple and easy to understand. Simply pick your project topic, type it on google and see if you will have at least a good background for the topic you are writing on.

If you can have a good background for your project topic and you can understand the problem associated with the project topic, then I believe the aim of the project is not far-fetched.

Structure of a Seminar Paper

I feel like there is a lot of stress out there among grad students about writing seminar papers, especially when we’re told that our goal should be to make an original contribution to the field. That idea can be quite intimidating when we’re just starting out. It feels like you’ve asked us to jump off the deep end of the pool and we don’t know how to swim.

I think part of the problem is that we’re still working out how to structure seminar papers.** Each paper we write is another step closer to a successful, effective, and effective paper; however, we’re still flailing our arms (and other miscellaneous body parts) around because we’re uncertain of exactly how to go about it. I realize, of course, that there is no one right answer. However, below is my suggestion at sticking your toes in the water.

Section #1 — Introduction

Provide a little bit (or a lot) of motivation for the reader to read your entire paper. Failing that, your reader should know what the paper is going to be about by reading your introduction.

Paragraph #1 — Get some attention.

  1. Provide a context by citing a recent text in the field — the point that is cited may or may not be the main point of the text — it is what jumped out at you.
  2. Set-up broader context of what you’re going to do

Paragraph #2-?? — Define issue and the gap.

  1. Define issue and any key terms
  2. Limit scope as necessary
  3. Establish significance of issue
  4. State problem by defining the gap
  5. Explain how present research attempts to fill the gap
  6. Outline contributions (readers will see lit review for more detail.)
  7. End with thesis and preview organization of the rest of the paper

Section #2 — Literature Review

Give some credit where credit is due.

  1. Indicate the current state of the issue/problem/topic
  2. Define or qualify terms
  3. Engage sources in conversation with each other (don’t just copy in annotated bib)

Section #3 — Argument / Discussion

As stated in the Allyn & Bacon Guide to Writing:wallow in those complexities!!

  1. Examine issue
  2. Argue how issue can be mitigated, mediated, or mashed
  3. Provide evidence and support
  4. Make some lively commentary along the way

Section #4 — Conclusion

We’re almost done. Don’t quit now.

  1. Summarize research question
  2. Qualify argument/discussion if you need to
  3. Explain where we go now
  4. End well

Section #5 — Works Cited

Double check

Is everything listed on the works cited?

Tips: it’s ok to use sub-headings to keep yourself organized.

Tips On How To Know What Your Supervisor Is Looking Out For In Your Project

Apparently all schools/colleges ask their undergraduates especially the final students to write their final year project before they are certified to be graduates. These projects are mostly discovery activities geared towards problems solving or basically to make new discoveries or better still have a better understanding of a problem with the aim of proffering better solutions.

With this assigned task an undergraduate will need an advisor, a counselor or a supervisor to guide and direct this activity for a desired result and a successful ending and of course, in return the supervisor have factors to look out for in a student project, so that the aim of the project writing will not be defeated.

As a final year student planning to write your final year project, there are some factors you need to consider when trying to have a good working relationship with your supervisor and you must have the below tips at your fingertips to know what your supervisor look at for in your project.

Selecting the right topic or title:

The supervisor would want to know how knowledgeable one is, in a chosen topic and how far one can go with the topic by asking one diverse questions which could be simple or a bit tough. So one thing is to choose a right topic and another thing is to be knowledgeable about the said topic.

The relevancy of the project topic to the degree course:

This is one of the important things a supervisor looks out for in a project. A final year project must have a purpose and objectives and most importantly be problem solving and must be related to the course of study. So a project topic should be relevant and interesting.

The realistic plan for the project:

A project supervisor will always look at how realistic a project topic is. Will the project aims be achieved and at the specified time. If it will outlived the specified time such topic might be dropped and a new topic adopted to run the set time and fulfill its purpose.

Quality of research materials available:

Another factor a supervisor will consider in project writing by a student is the quality of the materials available for research on the chosen project topic, can materials and information be readily available and are those materials of high standard and convincing not just bogus and fictitious analysis but materials that research has be carried out by scholars related to course of study. So a source of materials used for a project is very important and most supervisors look out for this.

The funding channels:

Almost all project writing needs a good amount of funding to achieved the desired aim, A supervisor would always want to find out how the project will be funded, so as not to have hitches when the project is on. So to have a smooth working relationship with ones project supervisor, the funding of the project must be considered and revisited from time to time. Because a supervisor will look out for this aspect too.

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