Quality management systems require companies to operate a formal design review process. This is to ensure that the quality of a product is best assured. The quality accreditation system is monitored and audited by external agencies. As such, companies that fail to comply with quality assurance procedures will not qualify for quality award and may lose business as a result. This is the thrust of value accounting. In this regard, the key variables of this study are value accounting and financial performance, with focus on paint companies in Nigeria. Data analysis involved the use of descriptive statistics and regression method. The results in terms of proxies of the variables indicated that there is significant positive relationship between the variables. Based on the conclusions, it is recommended that industrial executives should do more to promote value accounting through operation, component and economic analyses for financial performance improvement.