BUSINESS ENVIRONMENT AND MANAGEMENT ACCOUNTING PRACTICES IN NIGERIA

Management accounting practices are critical for enhancing decision-making, efficiency and sustainability in organizations. The study addresses the adverse effects of unstable economic conditions and evolving technological demands on the adoption and effectiveness of management accounting practices in Nigeria. The study employed a descriptive survey research design. A sample size of 100 respondents was selected using a random sampling technique. Data were collected through a structured questionnaire validated for content and construct reliability. The Ordinary Least Square regression was used as the method of data analysis. The findings revealed that economic condition has a significant negative effect on management accounting practices while technological advancement has a positive significant impact on management accounting practices. The combined effect of business environment on management accounting practices was positively significant. The study concludes that a conducive business environment, particularly stable economic conditions and technological advancement, play a key role in fostering effective management accounting practices. Policymakers and stakeholders should prioritize these elements to support the operational and financial decision-making capabilities of firms. The study recommended that firms should adopt strategic approaches to mitigate the negative effects of economic instability while leveraging technological advancements to improve management accounting practices. Policies promoting economic stability and subsidized access to technological tools are also suggested to enhance management accounting practices adoption and efficiency.