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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/3420

Title: Principles of cost planning reporting and controlling for Ghanaian mines
Authors: Cobblah, Alhassan
Issue Date: 4-Sep-1993
Series/Report no.: 2021;
Abstract: Most of the operating mining companies (particularly the old ones) in Ghana are faced with increasing labour, material and supply costs; more severe geological and environmental conditions; long haulage distances; equipment maintenance and utilization problems; and greater mandatory safety and environmental regulations on operations. These have resulted in increased costs and hence reduced profits. To improve profitability in Ghanaian mines, therefore, there is the need to regulate cost and/or keep planned costs on track. To achieve this will require effective cost planning, reporting and controlling procedures. The objective of this thesis is to establish principles of cost planning, reporting and controlling for Ghanaian mines, taking into account the Ghanaian mining environment and organizational structures, for production line managers (shift bosses through mine manager/mine superintendent). Based on results of time and motion studies as well as production statistics, realistic physical standards for various parts of the operations have been developed. An appropriate standard costing technique has been applied to set standard costs and budgets for labour, materials and equipment. The physical and cost standards have been set for individual workplaces and for scheduling the operations.Variance and economic analyses have been conducted on the various operations to establish the sources of high costs and disparities between the actual costs and standard costs or budgets. The reasons for these disparities and deficiencies in the reporting and controlling aspects have been established. Decision analyses techniques, economics, accounting, management and industrial engineering principles have been integrated to evolve a unique methodology by which costs could be effectively planned, reported and controlled. Incorporated in this methodology are clear organizational structures with consequent clarification of roles, authorities and responsibilities, classification of costs, cost centres and responsibility centres. Motivational and implementational techniques as well as education, training and development of employees form an indispensable ingredient of this methodology. A way to computerize cost planning, reporting and controlling procedures has been presented, by which human errors could be avoided and information storage, retrieval, updating and presentation could be done with high speed and accuracy and made good for easy assimilation.
Description: A thesis submitted to the Board of Postgraduate Studies, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfilment of the requirements for the award of the Degree of Doctor of Philosophy in Mining Engineering, 1993
URI: http://hdl.handle.net/123456789/3420
Appears in Collections:College of Engineering

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