The Impact of Accounting Records in Small and Medium Scale Industry
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Abstract on The Impact of Accounting Records in Small and Medium Scale Industry
An expansive wisdom is bought by experience learning teaching more in one year then experience in twenty. Rogar Ascharm. Furthermore, it is impossible for a man to learn. On this note I state that a great number of people go suddenly and with force into business without having a sound knowledge of what business is all about what it takes to rim or manage a business. One cannot be said to have committed an offence nor made a mistake to ascertain them. It is a daily practice to set up small and medium scale firms in every nooks and ceramics of Nigeria, but sample though worthy questioning. How many actually stand with the test of time many business levers commenced business with huge sums of money (Capital) have experienced a mistiness running down of the business the predicament has been attributed to many factors. The study critically worked into the accounting systems and management problems in separation in both small and medium scale industries (a case study of Mr. Bigg’s and Uncle Joe’s bread) Enugu state I have found out if records actually existed, the problems encounter in keeping them and effects they have on the entire business organization. Questionnaires and personal interviews were used by the researcher in obtaining the necessary factors. The main findings at the end of this research reveals that improper accounting and poor management techniques played a vital role in the failure of most business firms. Based on the major findings the research made the following recommendation; Proper planning and control Use of good accounting techniques Application of sound credit policy, Sound wage and salary policy,Improved inventory management, Reduction of operating cost experience, -Striving to improve sales.
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