An Evaluation of accounting procedures by SMEs and impact towards performance. Case study Bindura District.
- Author
- Dzafunwa, Rodwell P.
- Title
- An Evaluation of accounting procedures by SMEs and impact towards performance. Case study Bindura District.
- Abstract
- The overall objective of this research study was to investigate on how Zimbabwean SMEs in Bindura District are practicing their accounting as well as technology adopted, so as to evaluate the effectiveness of proper accounting in small business’s performance. The research used both questionnaires and interviews to gather primary information from the selected individuals who were responsible in accounting practices of the SMEs, these were the owners, managers, accountants and others who handle the accounting of those SMEs. Over 70 Questionnaires were distributed to 60 SMEs owners out of which 58 questionnaires were answered and returned by participants and also analysed. The key findings of this research paper showed that owners of smaller businesses were less aware of the value derived from maintaining accurate accounting records. Majority of retail SMEs in Bindura did not have proper accounting systems, they only recorded transactions which they regarded as important and forgetting others. Lack of accounting skills and failure in adaption to technology (i.e. use of accounting software) were major factors to improper accounting. The literature analysis also revealed a significant connection between accounting records and performance. Due to this lack of adequate accounting information utilization, the study concluded that Zimbabwean retail SMEs failed to develop their market share or maintain business operations over the long term.
- Date
- 2023
- Publisher
- BUSE
- Keywords
- SMEs
- Proper accounting
- Supervisor
- Mr. Ngwende
- Item sets
- Department of Accountancy