Query: impact of accounting records on small businesses

title: Impact of Record Keeping on the Growth of Micro and Small scale Enterprises: An Analytical Study
abstract: It is well recognised that micro and small enterprises (MSEs) are acting as specialist and soul of economic growth in India as well as in the world. MSEs are lifeblood of most economies and play a dominant role in the economic development of a country. Research on micro and small business development has shown that the rate of failure in developing countries is higher than in the developed world (Arinaitwe, 2006) The past studies indicate that three out of five businesses fail within the first few months of operation. A study by Peacock (1987) found that the lack of accounting records have led to the failure of these enterprises. This research study investigated the impact of record keeping on the growth of MSEs in the Cachar district of Assam. The objectives of the study were to analyse the relationship between record keeping practice and the growth of MSEs in the study area and to identify the status of record keeping in MSEs in the study area. To achieve these objectives, a sample of 93 entrepreneurs were selected from the targeted population. Primary data were collected by means of structured questionnaire. For data analysis, the study used descriptive statistics, and 'Pearson' correlation was used to establish the relationship between the dependent and independent variables. The finding of the study shows that there is a significance positive strong relationship between record keeping practice and growth of the MSEs in the study area.

title: The impact of ICT application in accounting services in Albania
abstract: Prior to advances in technology, accounting records were maintained only on a manual basis, with the bookkeeper (or possibly the owner) required to complete a manual source document for each sale or receipt, and then spend the evenings or weekends writing the transactions of the day or week in special journals, stock cards, and debtor and creditor records. This obviously took some time, time that would otherwise have been spent operating the business. However, the development of computerized accounting systems has revolutionized the way small businesses keep their accounting records. This paper conveys the findings of a study conducted to explore how information and communication technologies (ICT) in Albania have changed many aspects of accounting and financial reporting and, as a result, offer new and exciting opportunities to accounting professionals.

title: The impact of bookkeeping on the survival and growth of small and medium enterprises: a case of the Green Market complex in Mutare, Zimbabwe
abstract: The research was on the impact of bookkeeping on the survival and growth of small and medium enterprises .The study was motivated by the fact that new players enter the field each year and almost the same number leave. A similar trend has been like that from 2010 to 2013 at the Mutare Green Market complex. An in depth review of the literature related to the aforementioned factors under study was carried out. Qualitative and quantitative research methods were used in gathering information. Administering of five interviews and thirty three Questionnaires were the techniques employed to gather data. Major findings were that small businesses at the Green Market Complex in Mutare kept business records, the majority of them use single entry bookkeeping system and that this bookkeeping practice were not effective in improving their survival and growth. The study recommends that the government should make it mandatory for SMEs to submit yearly financial statements, impart accounting skills to the SMEs through seminars and that the SMEs owners should take the initiative to get workshops done for them and outsource the bookkeeping services.

title: Accessing Finance for Innovative EU SMEs Key Drivers and Challenges
abstract: Small and medium enterprises (SMEs) play a vital role in economic development, they offer the most economical use of capital in relation to job creation and provide the strongest channel for development and innovation. Innovation is recognized as an essential component of the economic growth process, broadly defined as development, deployment and economic utilization of new products, processes and services. SMEs are crucial for helping economies to restructure quickly in response to changing economic, social and market conditions, under the impact of international financial crisis. However, SMEs can fulfill this potential if they obtain the finance necessary to start and develop their businesses. Access to finance is a key determinant for business start up, development and growth for SMEs, including the innovative ones, and they have different needs and face different challenges. The limited market power, lack of management skills, absence of adequate accounting records and insufficient assets, transaction costs and lack of collateral, all tend to increase the risk profile of SMEs. Moreover, uncertainty and informational asymmetries that characterize SMEs are amplified for innovative SMEs making it more difficult for them to access finance through traditional means. The current economic environment has brought SME needs into particular focus given the significantly tightened credit supply conditions arising from the reduced ability and willingness of banks to provide financing. In order to improve the access to finance for SMEs, the efforts should be focused at the European and national levels on solving the problems regarding working capital, improving entrepreneurship and financial environment in the long term, attracting new financial resources, facilitating dialogue and consultation between governments, SMEs and financial institutions.

title: Impact of Accounting System on the Performance of Small and Medium Scale Enterprises in Nigeria (A Survey of SME's In North western State Nigeria)
abstract: Small and medium scale enterprises are gaining widespread acceptance worldwide as viable drivers of economic growth. However, several of these enterprises collapse without fulfilling the set objectives due to poor management and lack of proper accounting structure. This research work is aimed to examine the impact of sound accounting system on corporate performance of small and medium scale enterprises. This was done by a survey carried out through questionnaire administered as a source of primary. data, Data collected are analysed through one way analysis of variance(ANOVA) using minitab14 version with the Average mean value of 8,57143(85% showing that accounting system has a great effect on the performance of small and medium scale enterprises in this region, Average mean value of 8,85714(88% which indicate proper keeping of necessary books of account will bring more confidence on creditors and lenders to provide facilities to these businesses, an Average mean value of 8,85714(88% also indicated accounting system if adopted will assist in business decision making and an Average mean value of 9,57143 (95% of the study have also shown that lack of proper keeping of necessary books of account is making the audit and investigation of financial records of these businesses very difficult It was recommended that to encourage the adoption of sound accounting system in small and medium scale enterprises there should be adequate sensitization i.e seminars and workshops from the part of relevance Accounting professional bodies i.e ANAN, ICAN, CITN, CIBN and even the relevant tax authorities in the part of government to bring an awareness to these businesses so as to developed and reached the desired objectives. Date of Submission: 26 01 2019 Date of acceptance: 09 02 2019

title: The Analysis of the impact of Accounting Records Keeping on the Performance of the Small Scale Enterprises
abstract: This survey empirically investigates the effect of accounting records keeping on Small scale enterprises. In line with the objectives of this study, a descriptive design such as personal interviews and questionnaire were employed as the major techniques for primary data collection. Data collected were analyzed using both the qualitative and quantitative methods. The descriptive statistics used were tables and percentages. Chi square and analysis of variance (ANOVA) were employed to analyze data through STATA 10 version with the coefficient of determination (R2) 0.8974 which implied that 89.7% of the variation in financial performance could be explained by the level of accounting records keeping. Following the outcome of this study, it is therefore concluded that that there is a strong positive relationship between accounting records keeping and performance of small scale enterprises. Accounting records keeping is essential for decision making which invariably affects performance of small scale enterprises. It is recommended that the owners and managers of the small scale enterprises should embrace proper accounting records keeping practices for effective financial performance in their business.

title: Accounting Records and the Performance of Small and Medium Scale Industries (A Case of Karu L.G.A. of Nasarawa State)
abstract: This study evaluates the impact of accounting records on the performance of Small and Medium Scale Industries in Karu LGA of Nasarawa State. The research design is survey method comprising of opinions, impressions and perceptions of the respondents. The sampling technique was simple random sampling and proportionate stratified random sampling. The findings show that most of SMEs do not keep accounting records. Some of the reasons as to why they do not keep accounting records were: time consuming, lack of knowledge and skills, poor documentation, ignorance and poor support from the workers responsible with records in the organizations. The study recommend that the owners of SMEs to participate in different business matters, like seminars, international meetings, conferences where they can get different information, business skills on how to manage the business. Public and private organizations should increase effort on SME sector, especially in educating members how to improve their business in case of performance which requires good accounting records. Each SME owner, trader, supervisor should make sure that he or she is aware of the importance of accounting records towards the business growth.

title: CFEBT Risk Triangle as a Tool for Detecting and Evaluating Risks of Accounting Records: A Case Study
abstract: The objective of the present contribution is to evaluate the risk of accounting errors and frauds in small companies predominantly operating in agriculture. It is based on an analysis of the CFEBT risk triangle for financial statements reported for the years 2012 2016. The CFEBT risk triangle is applied in form of a case study aimed at risk detection of occurrence of accounting errors and frauds for a selected sample of companies. A detailed analysis of a risk of impact of accounting errors and frauds is illustrated in the case study of an accounting unit chosen from the sample of companies evaluated. Results of the presented case study into the detection and evaluation of the risk based on interconnections between the reported profit (loss) and the generated cash flow during 5 accounting periods confirm the significance of having a complex view for decision making of users based on reported accounting records and accounting data. Future research into the CFEBT risk triangle focuses on performance of complex analyses for individual types of business activities of small and middle sized companies in the context of Czech accounting standards and IFRS.

title: Usefulness of Accounting Theory and Practice on Small Scale Business in Nigeria
abstract: The study was on the usefulness of accounting theory and practice on performance of small scale business in Nigeria. The objective of the study was to examine the usefulness of accounting theory and practice on financial performance of small scale business in Nigeria. The research was carried out, using four SSEs (Kiote Services, Multifocal Limited, Ekoconnect, Magnet Consulting associate) as the study area. Secondary Data was gotten from the company's annual reports on return on equity. Multiple regression analysis is used as a means of testing the impact of accounting theory and practices on small scale business performance in Nigeria. Findings revealed that accounting theory and practice have significant relationship with the financial performance of Small and Medium Enterprises in Nigeria. Thus, it is recommended that SMEs should maintain proper accounting record and not just to maintain accounting records but introduction of financial management into funding activities will go a long way for judicious use of scarce fund and lay a solid ground to obtain finance either at the money or capital markets.  Accounting Theory, Accounting Practice, Financial Performance, Financial Reporting, Small Scale Business

title: Impact of Record Keeping Practices on Business Performance of Small and Medium Scale Enterprises in Sri Lanka
abstract: Record keeping plays a vital role in development by providing recorded information which is crucial in the strategic formulation of national development policies and plans. The purpose of the study is to examine the influence of record keeping practices on the business performance of small and medium scale enterprises in Sri Lanka. Record keeping practices consists of proper accounting records, preparation of accounting records and accounting records procedures whereas business performance is measured by organizational goal achievement, organizational effectiveness and organizational efficiency records. A structured questionnaire was used to collect the primary data from 75 SMEs which were selected by means of the random sampling technique. The results reveal that record keeping practices have significant positive influence on business performance of Small and medium enterprises in Sri Lanka. It can be recommended that academic institutions and other bodies which are responsible for SMEs should organize training programmes for those operators who do not have the technical knowhow in the field of accounting to come to grips with it and also provide some SME specific accounting guidelines and template forms for capturing accounting practices for the operators to use.