ASSESSING FINANCIAL REPORTING PRACTICES AMONG SMALL SCALE ENTERPRISES IN KUMASI METROPOLITAN ASSEMBLY
Journal Title: European Journal of Business and Social Sciences - Year 2014, Vol 2, Issue 10
Abstract
Small Scale Enterprises have been the builder of many economies in the world. But many die off soon after their establishment. This menace is attributed to poor financial management among small businesses. The aim of this research is to access financial reporting practices among small scale enterprises. The study further considered the problems faced by Small Scale Enterprises in preparing financial reports. The researchers used both qualitative and quantitative method, supported by statistical analysis of the survey data. The primary instruments used to collect data were interviews, observation and questionnaire. The research was designed to include small scale businesses within Kumasi Metropolitan Assembly. The findings confirmed that there is poor financial record keeping and financial reporting practices among small scale enterprises and recommends that training programmes should be organized for small scale enterprises to help them appreciate the importance of financial reporting and inculcate the practice in them.
Authors and Affiliations
Mintah Emmanuel Kofi| Bekwai Senior High School HOD, ICT Department Ghana adontsen@yahoo.com, HayfordAdjei| Kumasi Polytechnic Department of Management Studies Box 854 Kumasi –Ghana brohay100@yahoo.com 0266398610, MintahOffeh Collins| Kwame Nkrumah University of Science and Technology, School of Business, Dept of Accounting & Finance Ghana c.mintah@yahoo.co.uk, Anokye Okofo A Christian| University of Cape Coast Ghana okofoc@yahoo.com
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