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| Influence of Accounting Records Keeping on Small Scale Business in Oyo State, Nigeria |
Mbah, Fatima Imike; Makinde-Ojo, Yetunde Adeola; Samuel, Oladele Obisesan; Popoola, Elizabeth Toluwani; Adegbola, Muritala Makinde
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Abstract:
This research examines the influence of accounting records keeping on small scale business in Oyo state, Nigeria. The specific objectives are to: ascertain the extent to which small scale business keep accounts of their financial transactions in Oyo State.; assess the extent accounting records keeping contributes in efficient performance of small scale business in Oyo State; examine the impact of accounting records on SMEs performance in Oyo state. This research adopts a cross sectional survey design. This method used for sampling is a non-probability sampling technique. The instrument used for this study was obtained from primary data. The primary data was obtained through properly structured questionnaire. Data collected was analyzed using simple percentages and frequency of respondent while the hypotheses formulated were tested and analyzed using the chi-square statistics. The findings show that small scale business keep proper accounting records of their financial transactions in Oyo State, accounting records keeping contributes in efficient performance of small scale business Oyo State and accounting records have impact on SMEs performance in Oyo State. The accounting records keeping contribute to the performance of small scale business. The study concludes that the training of accountants by these institution and the various professional institutes should focus more on practical means of solving accounts reporting needs of small and medium scale enterprises.
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