Abstract:
The study examined the Effect of Financial Information Usefulness on
Management Decision-Making Effectiveness in Colleges of Education in the
Upper West Region of Ghana. The researcher used quantitative design to
assess the usefulness of financial information on management decision. For
the purpose of the study, 100 out of 150 staff of the three colleges of education
in the region constituted the sample size. Primary Data was collected from
respondents using self-administered questionnaires. The data were analyzed
using descriptive statistics and Analysis of Variance (ANOVA). The findings
revealed that financial information was extensively used in the decisionmaking
process across the Colleges of Education in the region. The study
further revealed that there is significant challenges faced by management in
utilizing financial information, including biases, bounded rationality,
uncertainties, internal conflicts, and time constraints. Therefore, it is
recommended that there should be proactive approaches to ensures that
institutions remain dynamic and responsive to changes, maximizing the impact
of financial information on decision-making. It further adds that management
should prioritize the availability of financial information to enhance decisionmaking
processes and the government should invest in the provision of
training and capacity building in the financial management of college
management staff.
