Our Archives

Call 08068929770 or 08122972656 for any enquiries.

Project Topic:

RELEVANCE OF ACCOUNTING IN THE GROWTH OF SMALL SCALE BUSINESS IN UHUNMWONDE

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Questionnaire, Data Analysis ::   28 people found this useful

Project Body:

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF STUDY

Accounting serves as a practical technique used to streamline the operations of a business. Accounting information generated from the activities of an organization primarily reveals the financial performance and financial position periodically. This information apparently enables management to effectively plan and control activities. Every economic entity has certain objectives and the main objective of commercial entities is to make profit and increase shareholders wealth. Before attaining these objectives, a firm needs to plan and control the activities in such a way to merit the expected profitability inflow. Basu, Blavy and Yulek (2004) stated that in a contemporary economy, Micro and Small Scale Industries (MSSIs) in the industrialization process have gained much prominence in developing countries. Their prominence came into the limelight in the late 1970s and early 1980s due to the economic recession which led to the decline of industrial growth and employment in many developing countries especially in Africa. Governments of such countries adopted a new policy approach towards the Small Scale Industries (SSIs) because of their promise to adapt flexibility to the unprecedented foreign exchange constraints. They were seen as providing a viable alternative to the large scale industries which were so dependent on foreign exchange. The contribution of SME’s to the national economy is potentially very large and is seen in the contribution to the Gross Domestic Product (GDP).

According to Boachie-Mensah and Marfo-Yiadom 2005) stated that in spite of their numbers, about 60% of the SSBs fail within the first five years of operation. Most SMEs fail because of their inability access finance from most of the financial institutions since they lack proper financial records as requirement according to (William, 2008). It has been attributed that the inability of most small scale business to survive beyond the first few month of establishment and operation was due to lack adequate financing.

According to (Amoako, 2013) stated that to become successful and be able to contribute meaningfully to the economy of Nigeria, SMEs must be able to attract and secure finance by themselves.

Recent studies shows that larger firms will be able bring to themselves economic and certain sophisticated quantitative management techniques that may not practicable for small and medium scale enterprises. Small scale business may be able to maintain closer client relation and better customer relation than the bigger companies.

According to (Abdulrasheed, Khadijat and Oyebola, 2012) stated that the differences in operation techniques may influence the deficit in accounting method employed in generating financial information. Most firms can employ different principles such as different inventory techniques, depreciation method, method of accounting for income taxes and revenue recognition procedures etc.

In recent times most business unit become complex and broader on scope, accounting evolved in response to the increased planning and control responsibilities of management.

According to (Abdulrasheed, Khadijat and Oyebola, 2012) stated that as government grows in size and become more centralized in nature, accounting was developed to meet the increased accountability; business decision need to be supported by good and quality financial information which need to be relevant, user friendly and available in timely manner.

1.2 STATEMENT OF PROBLEM

The study came about due to the poor accounting method among the small scale business; poor accounting practice has limited the performance of SSBs in recent times, some the major problem faced by small business due to poor accounting or irrelevant accounting method includes their inability to access fund and other financial benefits such as loans from most of the financial institutions due to poor account records. The pivot behind the survival of small business (SSBs) is availability of capital, when most of the small business can no longer access finance then their operation becomes ineffective.

1.3 AIM AND OBJECTIVE OF STUDY

The main of the study is to examine the relevance of accounting in the growth of small scale business in Uhunmwonde. Other specific objectives of the study are stated below as follows:

  1. To examine the relationship between accounting records and the growth of SMEs in Uhunmwonde
  2. To examine the effect of relevance of account on the performance of SMEs in Uhunmwonde
  3. To investigate on other factors affecting the growth of SMEs in Uhunmwonde, Edo State
  4. To examine the role of accounting in the growth and survival of small scale business
  5. To proffer solution to the above stated problems

1.4 RESEARCH QUESTIONS

The study came up with the following research questions in order to ascertain the aim and objectives of the study. The research questions are:

  1. What is the relationship between accounting records and the growth of SMEs in Uhunmwonde?
  2. What is the effect of relevance of account on the performance of SMEs in Uhunmwonde?
  3. What are the factors affecting the growth of SMEs in Uhunmwonde, Edo State?
  4. What are the roles of accounting in the growth and survival of small scale business?

1.5 RESEARCH HYPOTHESIS

H0: There is no significant relationship between accounting records and the survival of SMEs in Uhunmwonde, Edo State

H1: There is significant relationship between accounting records and the survival of SMEs in Uhunmwonde, Edo State

1.6 SIGNIFICANCE OF STUDY

The study will be of immense benefit to the small business owners in Nigeria, the state and the federal government of Nigeria, the study will also benefit the financial institutions in Uhunmwonde, Edo State and other researchers that wishes to carryout research similar to the above topic as it will discuss the relevance of account in the growth and survival of SMEs in Nigeria

1.7 SCOPE OF STUDY

The study the relevance of account in the growth and survival of SMEs in Nigeria is limited the small scale enterprises, the financial institutions in Uhunmwonde, Edo State

1.8 LIMITATION OF STUDY

Financial constraints: financial constraints tend to impede the speed of the researcher in getting all the relevant materials needed for the research work; however the researcher was able to get meaningful information from the available materials for the purpose of the research work

Time constraints: the researcher being a student will be involved in other departmental activities like attending lectures, submission of assignment and presentation of seminars; the research student however was able to meet up with the research work before the deadline of the project defense

1.9 DEFINITION OF TERMS

RELEVANCE: is simply the noun form of the adjective "relevant," which means "important to the matter at hand


Get The Complete Project »

Project Department:

MORE SMES & ENTREPRENEURSHIP FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

Instantly Share this Project On Social Media:

CLOSELY RELATED SMES & ENTREPRENEURSHIP FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

A CRITICAL ANALYSIS OF THE ROLE OF BANK OF INDUSTRY TOWARDS THE DEVELOPMENT OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 65 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   1601 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY The study of the role of government agencies towards the development of small scale enterprises is quite interesting. These enterprise have a...Continue reading »

AN APPRAISAL OF MATERIAL MANAGEMENT CONCEPT AS A STRATEGY FOR ACHIEVING HIGHER PRODUCTIVITY IN NIGERIAN BOTTLING COMPANY

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 63 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   4481 engagements

CHAPTER ONE INTRODUCTION 1.1 Background of the Study The Need for Appraisal of Material Management Concepts as a strategy for achieving higher productivity and to make up with the growing complexi...Continue reading »

AN ANALYSIS OF THE IMPACT OF NAPEP ON ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA (A CASE STUDY OF ABIA STATE)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 82 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   1911 engagements

CHAPTER ONE INTRODUCTION 1.1. Background of the Study Poverty and unemployment represent the biggest challenges to government in Nigeria. Unemployment rate continue to rise alarmingly, poverty has...Continue reading »

AN ANALYTICAL STUDY OF CREDIT FACILITIES TO SMALL SCALE FARMERS IN NIGERIA (A STUDY OF SMALL-SCALE FARMERS IN OHAOFIA LOCAL GOVERNMENT AREA OF ABIA STATE)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 84 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   1364 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY Agriculture according to Longman Dictionary of Contemporary English (New Edition) is the science or practice of farming. Agriculture has a ke...Continue reading »

EFFECT OF CAPITAL ALLOWANCES ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (A CASE STUDY OF SELECTED CONSTRUCTION COMPANIES IN NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: N/A ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   2572 engagements

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Historically, Nigeria’s experience of taxation predates the colonial period. The Hausas of Northern Nigeria were paying taxes, though in...Continue reading »

EFFECTS OF MULTIPLE TAXATIONS ON BUSINESS SURVIVAL IN NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 59 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   2734 engagements

CHAPTER TWO 2.1. REVIEW OF RELATED LITERATURE Taxation is one of the major fiscal policies the government of any nation such as Nigeria can use to achieve economic stability and in the financing of ...Continue reading »

What are you looking for today?

TESTIMONIALS:

  • 1. Favour Adeoti from Unimaid said "For the good deeds and help to students like me, may God almighty continue to bless u and empower you to do more. Thank u very much...".
    Rating: Excellent
  • 2. Saddiq Abubakar Shuaibu from ESAE BENIN UNIVERSITY said "I check your site because I want you to help do this project thank you".
    Rating: Excellent
  • 3. Temitope Olumide from UAM makurdi said "I can not believe i could trust online platforms but you prove to me that there are still some good people out there. Thank you Mr Donald".
    Rating: Excellent
  • 4. Topeola Atinuke from the bells said "hmmmm, not sure yet about all dis comment still working on dem yet....tank u".
    Rating: Average
  • 5. Michael G. from FUTO said "Good job boys!!! Great content. You guys just saved me. God bless u...".
    Rating: Very Good
  • 6. Favour from Ui said "I must say a job well done...Thanx so much for being honest..I will surely introduce your platform to my friends...".
    Rating: Very Good

Paper Information

Format:ms word
Chapter:1-5
Pages:67
Attribute:Questionnaire, Data Analysis
Price:₦3,000
Get The Complete Project »

Best Selling Projects

Our Archives