The Impact Of Poor Accounting System In Small Scale Industries

THE IMPACT OF POOR ACCOUNTING SYSTEM IN SMALL SCALE INDUSTRIES

Abstract

The purpose of this article is to evaluate the significance, the contribution that a subpar accounting system makes to small-scale industries generally and specifically in Nigeria. Nigeria will be used as an example to examine the issue related to the development of accounting systems in small-scale enterprises.

Assumable Contents

front page

Approval

Dedication

Acknowledgement

Abstract

List of contents

Chapiter 1

Introduction

Background information for the study

1.2.1 A description of the issue

1.3 Purpose of the investigation

1.4 The study’s importance is discussed in section .

1.5 Study’s parameters and restrictions

1.6 Definition of key words

Apartment Two

Review of the literature

2.1 Accounting definition, version

2.2 The purpose and significance of accounting information

2.3 Accounting terminology and system definition

2.4 The value of having a proper accounting system in a corporate organization

2.5 An explanation of what small-scale industries are

Nigeria is the country where small size organizations first emerged.

2.7 Reasons for small-scale industries’ failure

2.8 Remedies, section

2.9 Procedures and essential books that must be kept

Section Three

Conclusion and suggestion

3.1 Recapitulation

3.2 Conclusion

The 3.3 Recommendation

Bibliography

Chapiter 1

Introduction

1.1 The Background

Since the beginning of time, man has been steadfastly seeking an end to his difficulties. Among these issues, which also include social, political, and cultural issues, the economic issue is the most important.

The main issue in all cultures at all times was briefly addressed by making rudimentary tools out of the wood and other materials that were readily available nearby in order to boost output and, to a significant extent, satisfy his basic psychological demands.

Every society’s economic growth is fundamentally reliant on a strong industrialization strategy. The vast powers and influence that industrialized nations like the U.S.A., West Germany, Japan, and the USSR wield in the area of international politics and in all other areas of world affairs have given substantial weight to this view.

It is depressing to learn that small-scale industries are frequently treated in economic policies in the majority of developing countries as an inevitable background and lagging sector of the economy to be assisted solely for social reasons but not as a legitimate opportunity for economic development. As a result of this other notion of little attention, attention has been drawn quickly to the enormous benefits that can be obtained by growing current small businesses to their full potential in order to encourage the creation of new ones. The idea is that development plans and economic planning should be built on a neutral combination of large, medium, and small businesses rather than that small scale industries are the final remedy for national development. Small scale industries are important economically because of how adaptable they are, and since adaptability is a necessary condition for economic growth, it is very desirable that more funding rather than little should go to these sectors.

When listing the issues with small-scale companies, Martin O. Ijere brought up a lack of funding. Because small-scale enterprises depend heavily on this financing to survive, it must be protected. To ensure that every item or transaction involved in the business operations of small scale industries is tracked, a suitable accounting system should be built as part of this process. This will assist in achieving most of the