THE NEED FOR ACCOUNTING EDUCATION IN SMALL SCALE INDUSTRIES

CHAPTER ONE

1.0  INTRODUCTION

1.1  BACKGROUND OF STUDY

Accounting is an old as the exchange process (Whether) barter or monitory that gradually developed with civilization. We study accounting for business and not business for accounting, second communication and exportation of business idea seen to be the most important function of accounting as it relates to business, it is a fact that business organization can not do without making use of accounting information and ideas in their day to days activities the significance of accounting education in a developing nation such as ours can not be payed down, in short, accounting evolved in orders to locate responsibility prevent fraud guide industries in their bads in attendance of their organization goals, it equally provide solution to their numerous problems. Development of small scale industries small scale industries developed in most rural areas as peascents training on palm produce with crude milling equipment and probably few important madines the generses of small scale industries began form the processing of food down to the manufacturing of basic tools and other implement for out daily use. Every small scale industrialist has profit at the back of his mind before carrying out the project at the higher the amount, the more prove to accountability so small scale industrialist should be able to give account. It is therefore important that small scale enterprise be well equipped with proper accounting because it will ensure confidence and proper financial procedure, Hence, good record keeping give in details the knowledge of expense in come as profit or loss is the first step to wards profitable management of any business.