INTEGRATION OF ARTIFICIAL INTELLIGENCE IN COST ACCOUNTING FOR REAL-TIME DECISION MAKING AT INNOSON NIGERIA LIMITED PLC

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Authors

Onuoha, Perpetua Ijeoma (Ph.D.) ¹; Izinya, Thomas Nweke ² 

¹Faculty of Management Sciences

Alex – Ekwueme Federal University Ndufu – Alike, Nigeria.

²Department of Accountancy

 Ebonyi State University Abakaliki, Nigeria

 ¹ [email protected], 07033548086

² [email protected], 08032643781

Abstract

Research Objectives: This study investigates how Artificial Intelligence (AI) can be integrated into cost accounting systems to enhance real-time decision-making at Innoson Nigeria Limited Plc. It aims to assess the potential benefits, evaluate existing limitations in traditional cost accounting, and provide recommendations for AI-driven transformation.

Methodology: The research adopts a qualitative design using secondary data from academic literature, industry reports, and case studies on AI in accounting and manufacturing. Company-specific insights were drawn from available organizational reports and industry analyses. Comparative review techniques were applied to highlight the gaps between traditional cost accounting and AI-enabled systems.

Findings: The results show that AI leads to better accuracy and timeliness of the cost allocations, reinforces predictive planning with digital twins, boosts transparency with explainable AI, and promotes risk management with anomaly detection in cost data. Based on the statistical examples, there is better precision in cost allocations, less error is generated and the rate of decision making is higher with the new approach than the old one.

Conclusion: This research arrives at the conclusion that AI-based cost accounting will give Innoson a sound baseline upon which to make a proactive, transparent, and evidence-based decision-making process. 

Recommendations: The study recommends phased AI adoption, workforce reskilling, collaboration with technology partners, and embedding AI tools into the company’s existing management information systems to ensure sustainability and scalability.

Keywords: Artificial Intelligence, Cost Accounting, Real-Time Decision-Making, Manufacturing, Innoson Nigeria Plc

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