Impact of poor accounting system on the growth and sustainability of small and medium enterprises Department: Accountancy By: AdeleyeJoshua Project ID: 9641 Rating: (5.0) votes: 1Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractThis study is on the impact of poor accounting practices on the growth and sustainability of SMEs in small-scale industries, using KPC Pure Water Lokoja as the study area. The objectives of the study are: to examine whether poor accounting practices can affect the growth of SMEs, to determine the impact of poor accounting practices on the sustainability of SMEs, and to determine whether there is a relationship between poor accounting practices and the growth/sustainability of SMEs. Survey design method was adopted in the study, where data were gathered from both primary and secondary sources. The population of the study is forty (40), out of which thirty-six (36) were selected as the sample size. Findings revealed that Poor accounting practice of SMEs can lead to business failure and lost of capital, can hinder growth and development of SMEs, and it hinders efficient business management and proper decision-making of SMES. Poor accounting practice can lead to inefficient business operations and ineffective business control and poor accounting practice can lead to poor liquidity, poor credit management, and poor project investment& management. In view of the findings, it was recommended that, since there were many accounting systems available to small-scale enterprises, the Ministry of Commerce and Industries should help small business owners to avail themselves of the opportunity to use accounting systems that are relevant for the day-to-day reporting of their business transactions. Managers and owners of small and medium enterprises should undertake basic training in accounting practices, as this will aid them in knowing their assets, liabilities, and capital. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»The impact of development finance institutions (DFIS) in economic development of Nigeria»Auditing in Nigeria companies, problems and prospects»Effect of misrepresentation of information in a financial statement»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»The effects of computerized accounting system on the performance of banking industry in Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )