Accounting records keeping practices of SMEs in Ghana: Evidence from Sunyani Municipality

Abstract

The incessant poor performance of small and medium scale entities can be attributed to hosts of factors of which poor accounting record keeping cannot be over emphasized. This study therefore explores the accounting practices of SMEs in Ghana using the Sunyani Municipality as a case study. The study uses stratified sampling and snow balling techniques to gather data from SME owner/managers of various sectors in the municipality. The research findings are based on a survey of the accounting record practices of one hundred and four SMEs in the Municipality. The study revealed that a majority of SMEs do not keep complete accounting records as a result of numerous factors such as lack of book keeping skills on the part of owners/managers and the high cost involved in adopting a good accounting system. Several recommendations have been outlined by this paper amongst which includes periodic training on proper accounting records keeping by regulatory bodies and educational institutions in the municipality and Ghana as a whole.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 15 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.