Responsibility Accounting and Financial Performance of Petroleum Marketing Firms in South-South Nigeria

The study was conducted to investigate the relationship between responsibility accounting and financial performance in South-South Nigeria. The research adopted descriptive survey research design. The population of the study is made up of all the five petroleum marketing firms in South-South Nigeria. The study used questionnaire instrument, and data were analyzed in the Statistical Package for Social Sciences Version 22. The research questions were analyzed using mean and standard deviation and hypotheses were tested using Simple bivariate regression analysis at a significance level of .05. The results of the findings showed that there was a very strong positive significant relationship between revenue report and measures of financial performance, also it was revealed that there is a strong positive significant relationship between investment report and measures of financial performance, the study further shows a strong positive relationship between expenditure report and measures of financial performance. This study recommends that the petroleum marketing firms should adopt and comply with the responsibilities of maintaining revenue report in order to sustain a high level of financial performance. Petroleum marketing firms should strengthen and implement a workable investment report as this is one of the major drivers in increasing Financial Performance. The Petroleum marketing firms should continuously improve on expenditure report by controlling cost in order to improve on financial management