THE IMPACT OF FINANCIAL PLANNING ON THE PROFITABILITY AND EFFICIENCY OF SMALL SCALE FIRMS


THE IMPACT OF FINANCIAL PLANNING ON THE PROFITABILITY AND EFFICIENCY OF SMALL SCALE FIRMS

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THE IMPACT OF FINANCIAL PLANNING ON THE PROFITABILITY AND EFFICIENCY OF SMALL SCALE FIRMS

ABSTRACT

The Nigeria Economy has a lot of turbulence in the 1980’s.  The period witnessed unemployment, inflation, dwindling oil revenue; the need has risen for the government to take serious steps to change the direction of the economy through policies which are aimed at restructuring and making better use of available resources.

 

However, this study was conducted to examine the impact of financial planning in the profitability and efficiency of small scale industries in Orumba North Local Government Area of Anambra State.  The results of the study showed that financial planning has to be interpreted and used.

 

After an analysis of data, the study came out with findings of financial planning propels the level of performance of small scale firms.

 

It was found that small scale firms in Orumba North Local government was identified to be absence of proper financial records, illiteracy, bad attitude to change and high inflation and interest rate.

 

In other to exploit the optional benefits of this study, the researcher offered the following recommendations for the improvement of financial planning in small scale firms in Orumba north local government area of Anambra state.

1.  Considering the fact most small scale firms lack necessary managerial know-how, experienced and qualified staff should be employed on fulltime basis to design a good accounting system, draw up maintenance plans for such records and help relate them to profitable operations.

2.  Good records should be kept. While a business owned is not expected to be an accountant, he should at least be able to keep memorandum of records to assist the accountant in preparing his financial records or reports.

3.  Small scale industrialists should be enlightened through the use of seminars and government enlightment policies.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENT

                                                                                PAGE

Title page                                                                         i

Certificate                                                                ii             

Dedication                                                               iii            

Acknowledgement                                                    iv
Abstract                                                                   v-vi

Table of Content                                                      vii-viii

 

CHAPTER ONE:

1.1   Introduction                                                     1

1.2   Historical background of Orumba North L.G.A 3

1.3   Objectives of the Study                                    5

1.4   Statement of the Problem                                6

1.5   Research Hypotheses                                       7

1.6   Significance of the study                                  8

1.7   Scope and Limitation of the study                   8

1.8   Limitation of the Research                               9

1.9   Definition of Relevant Terms                            9

1.10 Summary                                                         14

               

CHAPTER TWO: Literature Review                      

2.1   Introduction to Finance                                   15

2.2   Importance of Finance on Management

Decision Making                                              16

2.3   Financial Planning for Decision Making          17

2.4   Components of Financial Plans                               18

2.5   Business Organization: General Overview                29   

2.6   What is a Small Scale Industry                                32

2.7   Role and importance of the small scale

Industry in developing country                                35

2.8   Problem of the small Scale Industry                36

 

CHAPTER THREE: Methodology

3.1   Introduction                                                     41

3.2   Population and Sample                                   42

3.3   Method of Data Analysis                                  42

 

                                                                                                                                               

CHAPTER FOUR: Presentation, Analysis and Interpretation of Data

4.1   Introduction                                                     45

4.2   Tabular Presentation and analysis of Data      45

4.3   Hypotheses Testing and Verification                        56

 

CHAPTER FIVE: Summary of Findings, Recommendations and Conclusion

5.1   Summary of Findings                                      65

5.2   Recommendations                                           67

5.3   Conclusion                                                      69

        Appendix                                                         71

        Bibliography                                                    75           

 

Questionnaire                                                 

 

 

 

 

CHAPTER ONE

1.1   INTRODUCTION

The Nigeria economy has witnessed a lot of turbulence in the 1980s. The period witnessed unemployment, dwindling oil revenue. The need has arisen for the government to take serious steps to change the direction of the economy through the use of policies, which are aimed at restructuring and making better use of available resources. Among these policies, one should aim at increasing the awareness, as regards the positive impact which emphasis on small scale industries could have on the economy.

 

For the purpose of this research, a small scale industry because of ambiguity in the definition, can toe defined as a continuum starting from the informal sole propertorship and extending to an upper limit defined by the law of the country concerned. In Nigeria for example, various agencies have different classifications - Nigeria Bank for Commerce and Industry, Federal Ministry of Industries etc.

THE IMPACT OF FINANCIAL PLANNING ON THE PROFITABILITY AND EFFICIENCY OF SMALL SCALE FIRMS

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The Nigeria Economy has a lot of turbulence in the 1980’s. The period witnessed unemployment, inflation, dwindling oil revenue; the need has risen for the government to take serious steps to change the direction of the economy through policies which are aimed at restructuring and making better use of available resources. .. accounting project topics

THE IMPACT OF FINANCIAL PLANNING ON THE PROFITABILITY AND EFFICIENCY OF SMALL SCALE FIRMS

Project Information

  • CATEGORY : ACCOUNTING
  • TYPE : PROJECT MATERIAL
  • FORMAT : MICROSOFT WORD
  • ATTRIBUTE : Documentation Only
  • PAGES : 85 Pages
  • CHAPTERS : 1 - 5
  • PRICE : ₦ 3,000.00

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