Impact of Financial Records on Performance of Small and Medium Scale Enterprises
Adejumo, Azeez Adeniyi (2015)
Adejumo, Azeez Adeniyi
Laurea-ammattikorkeakoulu
2015
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201501141256
https://urn.fi/URN:NBN:fi:amk-201501141256
Tiivistelmä
This research study was conceived to undertake a critical appraisal of the impact of financial records on performance of small and medium scale business using Mr.Washingman as an empirical case study.
The objective of this research work is to examine the problems faced by SMEs in the area of keeping effective financial records and to provide some possible solutions.The researcher was enthused to implement this research study because he believes that keeping of financial records have a significant impact on the performance of small and medium scale businesses.
Data was collected through the use of questionnaire from both males and females who have at least 5 years of in-dept knowledge about the organization (SMEs).Besides this,a simple random sampling method of data collection was also adopted.
The study reveals that financial record keeping has significant effect on the performance of small and medium scale businessses (SMEs).
Finally,this research study reveals the fact that in order to increase the profitability of the business as well as to expand the SMEs operations,there is need for a good accounting record keeping to be maintained properly by a qualified personnel or accountant who has the accounting skills,knowledge and self determination.
Keywords: financial records, critical appraisal, implement, performance, simple random sampling, significant, qualified personnel or accountant and profitability
The objective of this research work is to examine the problems faced by SMEs in the area of keeping effective financial records and to provide some possible solutions.The researcher was enthused to implement this research study because he believes that keeping of financial records have a significant impact on the performance of small and medium scale businesses.
Data was collected through the use of questionnaire from both males and females who have at least 5 years of in-dept knowledge about the organization (SMEs).Besides this,a simple random sampling method of data collection was also adopted.
The study reveals that financial record keeping has significant effect on the performance of small and medium scale businessses (SMEs).
Finally,this research study reveals the fact that in order to increase the profitability of the business as well as to expand the SMEs operations,there is need for a good accounting record keeping to be maintained properly by a qualified personnel or accountant who has the accounting skills,knowledge and self determination.
Keywords: financial records, critical appraisal, implement, performance, simple random sampling, significant, qualified personnel or accountant and profitability