ABSTRACT
This study deals with “The Relevance of Good Accounting Record Keeping in Small Scale Business” using Golden Star Nigeria Limited as a case study. In this study, survey research design was adopted. The population consisted of all staff of Golden Star Nigeria Limited. Judgment sampling technique was adopted and Taro-Yamane’s sampling size formula was used to select 18 staff. Data were collected using structured questionnaire. Findings revealed that good record keeping helps in sound decision making, effective management of cash, proper control of expenditure and for analysis purpose. In this study, it is recommended that accounting recording books should be kept in businesses to ease recording of transactions. It is also recommended that the business entity concept should be applied and small scale businesses should employ the services of qualified accountants to manage their business so as to ensure growth.
TABLES OF CONTENTS
Title page..………………………………………………………..………….. i
Certification ………………………………………………………………… ii
Dedication ………………………………………………………………….. iii
Acknowledgements ………………………………………………………… iv
Abstract ……………………………………………………………………… v
Table of contents ……….………………….………………………………………vi – x
List of tables …………………………………………………………………xi
CHAPTER ONE: INTRODUCTION
- Background of the study …………………………………………………….1 – 3
- Statement of the Problem……………………………..………….3 – 4
- Objectives of the Study…………………………..………………4 – 5
- Research Questions…………………………..…………………..5
- Significance of the Study………………..……………………….6
- Scope/Limitations of the Study……..……………………………6 – 7
- Organization of the Study………..………………………………7
- Definition of Terms…………..………………………………….8 – 9
CHAPTER TWO: REVIEW OF RELATED LITERATURE
- Introduction ……………………………………………………10
2.2 Meaning and Relevance of Good Record Keeping ………11 – 12
2.3 Meaning and Importance of Accounting Record ……..12 – 15
2.4 The Concept of Small Scale Business ……………………15 – 17
2.5 Contribution of Book Keeping to small Business in Nigeria 7 – 19
2.6 Problems of Small Business in Nigeria ………………….19 – 20
2.7 The Importance of Good Accounting Records for small Business..21-23
2.8 The Need and Importance of Accounting ……………..23 – 25
2.9 Book-keeping tips for small Business Enterprise ………26 – 27
Endnotes ……………………………………………………….28
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
- Introduction …………………………………………………….29
3.1-1 Research Questions ……………………………………………29
3.2 Design of the study …………………………………………….30
3.3 Area of the study ………………………………………………30
3.4 Population of the study …………………………………………30
3.5 Sample and Sampling Technique …………………………30 – 31
3.6 Instrument and Method of Data Collection …………………..31
3.7 Data Analysis Technique ……………………………………..31
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATIONS
- Introduction …………………………………………………..32
- Data Presentation, Analysis and Interpretation …………33 – 41
CHAPTER FIVE: FINDINGS CONCLUSION AND RECOMMENDATIONS
- Introduction ………………………………………………….42
- Findings …………………………………………………..42 – 43
- Conclusion ………………………………………………..43 – 44
- Recommendations ………………………………………..44 – 45
References
Appendices
CHAPTER ONE
INTRODUCTION
- BACKGROUND OF THE STUDY
Book keeping is a very essential part of all kind of businesses. One of the main reasons behind this is that every business is involved in financial transactions almost everyday. Book keeping is the recording of financial transactions. Transaction includes sales, purchases, income and payments by an individual or organization.
According to Davis (2012, p. 1) book keeping is the process of recording and classifying business financial information and transactions (activities). In a simple language, it is maintaining the records of the financial activities of a business or individual. Book keeping’s objective is simply to record and summarize financial transactions into usable form that provide financial information about a business.
The information recorded by the book keeping operation is to produce report for management, the owners of the business and the general public.