PUBLIC ACCOUNTING FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMEs)
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- Recommended for : Student Researchers
- NGN 5000
PUBLIC ACCOUNTING FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMEs)
ABSTRACT
This study evaluates the application of public accounting methods for small and medium-sized enterprises (SMEs), focusing on financial reporting, tax compliance, and access to financing. A survey research design was employed to collect data from SME accountants and business owners, offering insights into their accounting practices and challenges. Using Taro Yamane’s formula, a sample size of 360 was determined from a population of 7,500 SMEs in Ogun State, ensuring statistical accuracy. Ogun State was selected due to its burgeoning SME sector. The study achieved a reliability coefficient score of 0.84, indicating the reliability of the survey instrument. Findings reveal that public accounting methods significantly aid in financial reporting and tax compliance, yet SMEs face difficulties in accessing financing due to perceived financial risks by lenders. The study recommends tailored financial training programs for SMEs and the development of financial products specifically designed to meet their needs.
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