Abstract
This research work examined the role of accounting record on the performance of small scale industries in Nigeria with special reference to selected Local Government Areas in Lagos State. The current trend and development in small scale industries in Nigeria prompted the interest of this research work. The objectives was to provide the means of improving managerial skills for effective and efficient running of small business, and to also provide means of maintaining proper accounting records and control among others.
The first result showed that there was significant relationship between managerial skills and effective and efficient running of small scale business. The second findings revealed that. There were significant relationship between proper accounting records and fraudulent practices of small scale industries. Also other findings have it to positive.
This research work therefore suggested that the transaction arising from small business activities should at all times are recorded in such a manner that the profitability of small scale business owners is ascertained.
However, the owner of a small business has no time for elaborate system of book-keeping. Yet it is essential for him to keep a clear and accurate account. Surprisingly, many small scale industrialists do not know whether their businesses are operating at a profit or at a loss, Book-keeping in a small scale business, plays a vital role no matter how efficient a business is run. Failure to keep adequate records may spell doom for the company. The recording of all transaction in terms of money value is the first purpose of book-keeping. The records in turn provide all information to compare the cost of carrying on any form of business with the revenue derived from such business and considering other who have invested money in them to know whether the company is making profit or loss. The accounting records will serve the purpose of giving the owner information on the degree of efficiency or otherwise of its management, how and where it earns most income? What trends therefore are in the trades or services concerned? And, or what steps may be taken to improve its earning capacity?
Accounting records are not only good, but may be required by law, legal and financial questions that may be raised by government agencies, banks, employees and shareholders. There questions can be accurately answered when written records of all business transaction is just like keeping the business history, and based on this" the owner may know whether the business is growing or not.
Despite the fact that book-keeping system is very important to small scale industrialist, many of them still keep away from keeping their accounting records because of the works involved. Some business men regard the system as a waste of time and fund because of the additional workforce that will be required and the cost of buying accounting materials for the use of business.
Finally, accounting record is an essential dignified and worthwhile vocation a step forward to high executive position and outstanding business success and it also solve the problems of proper decision making and policy implementation.
CHAPTER ONE
INTRODUCTION
1.1
ABSTRACT The study examined marketing skill and promotion of small and medium scale enterprise using small...
ABSTRACT This study was conducted to assess the knowledge, attitude and practice of malaria prevention strategies among mothers of under-...
Background of the study According to Mati and Puh (2016) and Sahota (2019), the emergence of nat...
Background Of The Study Maternal and child mortality are not new concepts in the social and medical sci...
Background Energy lies at the heart of all human activity; it is the foundation of industrial civilisation. Modern life...
ABSTRACT This study explores THE IMPACT OF ETHICS AND PROFESSIONALISM IN FUND ACCOUNTING SERVICES, aiming to understand their influence o...
ABSTRACT This essay is going to examine the use or Nigerian Pidgin in Ipodo and Alade markets. Chapter one treats the background study, h...
Abstract This work examines the History of Muslims-Christian activities among the Igala people of Ankpa Local Government...
ABSTRACT The study centers on the problems militating against effective teaching and learning of Ac...
MARKETING SKILL AND PROMOTION OF SMALL AND MEDIUM SCALE ENTERPRISE
ASSESSMENT OF KNOWLEDGE, ATTITUDE AND PRACTICE OF MALARIA PREVENTION STRATEGIES AMONG MOTHERS OF UNDER-FIVE CHILDREN
CUSTOMER BEHAVIOUR AND PERCEPTION TOWARD LOCALLY MADE CREAM IN ESE ODO L.G.A, ONDO STATE
ASSESSING THE IMPACT OF POVERTY ON MATERNAL AND INFANT MORTALITY
DESIGN, SIMULATION, CONSTRUCTION AND PERFORMANCE EVALUATION OF A SOLAR OVEN
THE IMPACT OF ETHICS AND PROFESSIONALISM IN FUND ACCOUNTING SERVICES
THE USE OF NIGERIAN PIDGIN ENGLISH IN IPODO AND ALADE MARKETS
A HISTORY OF MUSLIM CHRISTIAN ACTIVITIES
THE PROBLEMS MILITATING AGAINST EFFECTIVE TEACHING AND LEARNING OF ACCOUNTING IN JUNIOR SECONDARY SCHOOLS