ABSTRACT
An expansive wisdom is bought by experience learning
teacheth more in one year than experience in twenty. Rogar Ascham (in the
scholaoter). Furthermore, “it is impossible for a man to learn what the thinks
he already know (Epictelus).
On this note I state that a great number of
people go suddenly and with force into business without having a sound
knowledge of what business is all about, what it takes to run or manage a
business. One cannot be said to have committed an offence nor made a mistake to
make an ascertain that it is a daily practice to set up small and medium scale
firms in every nooks and crawrices of Nigeria, but simple though worthy
questioning. “How many actually stand with the test of time?” many business
lovers commenced business with huge sums of money (capital) have experienced a mistiness
running down of the business the predicament has been attributed to many
factors but the writer is chiefly concerned with “accounting and management” as
one of the said such factors.
The study critically worked into the
accounting systems and management problems in separation in both small and
medium scale industries. (A case study of Mr. Bigg’s and Uncle Joe’s Bread)
Enugu State, I have found out if records actually existed, the problems
encounter in keeping them, and the effects they have on the entire business
organization. Questionnaires and personal interviews were used by the
researcher in obtaining the necessary factors.
The main findings at the end of this research
reveals that improper accounting and poor management techniques played a vital
role in the failure of most business firms. Based on the major findings the
researcher made the following recommendation.
1.
Proper planning and control
2.
Use of good accounting techniques
3.
Application of sund credit policy
4.
Sound wage and salary policy
5.
Use of marketing research
6.
Improved inventory management
7. Reduction of operating cost expenses
8.
Striving to improve sales.
TABLE OF
CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Proposal
Abstract
Table of contents
CHAPTER ONE
1.0
Introduction
1.1
Background of the study
1.2
Statement of problem
1.3
Objective of study
1.4
Hypothesis
1.5
Significance of study
1.6
Scope and limitation
1.7
Methodology
1.8
Definition of terms
Reference
CHAPTER TWO
2.0
Literature review
2.1
Dark age development of accounting
2.2
Evolution of accounting in Nigeria
2.3
Academically development of accounting
2.4
Justification of accounting in business
2.5
Range of operation of accounting
2.6
Business records and systems of accounting
2.7
Small and medium scale enterprises and economic contributions.
2.8
Predicaments and constraints militating against small and medium scale
enterprises in Nigeria
2.9
Causes and preventive measure of business failure
Reference
CHAPTER THREE
3.0
Research methodology
3.1
Overview
3.2
Determination of sample size
3.3
Sample procedure
3.4
Method of distribution of questionnaires
3.5
Method of analysis and hypothesis testing
3.6
Limitations.
CHAPTER FOUR
4.0
Presentation and analysis of data
4.1
Introduction
4.2
Data presentation
4.3
Analysis of data
4.4
Test of hypothesis
4.5
Interpretation of data
CHAPTER FIVE
5.0
Finding and recommendation
5.1
Summary of finding
5.2
Conclusion
5.3
Recommendation
Bibliography
Appendix
CHAPTER ONE
1.0
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
A basic reality of modern economic life is
the inter dependence of the business. No modern business is an outlay in
itself. There is no doubt whatsoever that the small scale and medium companies
constitute the real fabric of a nation’s economy. And to say that the present
and future economic advancement of this our great country Nigeria lies in the
dynamism and growth of small-to-medium scale enterprises (SME) is not an
overstatement.
This opinion was upheld during the economic
conference in Lagos in 1989 at the instance of three bodies namely – the
Nigerian institute of social and economic research (NISER). The National
Association of small-scale industries (NASSI) and the Friedrich Albert
foundation. In other words, SMEs constitute a vital engine to economic growth
and development.
However, the environment in which this sector
operates in Nigeria is both challenging and rewarding. It is challenging
because it is fraught with the changers of risks arising from having, in the
first place to invest money in a business and the problems of managing it in the
country’s recessed economy.
Moreover, there is the challenge of
government regulatory activities which may effect the performance of SMEs
adversely.
Nevertheless, there is smiling countenance of
success, should the SMEs be given dynamic leadership and properly managed in
the present economically recessive climate in the country, and with the aid of
the various packages of incentives given by governments (Federal, State and Local)
to this group of business.
Past records of different countries that are
regarded to be developed revealed that industrial revolution had been the main
cause for their economic survival. The financial capacity the said developed
countries has, come mainly from the acquisition industrial and technological
power. Small and medium scale industries undisputedly constitute the bed-rock
for any meaningful industrial development and for the acquisition of this trial
and technological power.
In recent years, development economists and
policy makers have become increasingly troubled by two problem found commonly
in less developed and develop countries. There are slow growth in industrial
development and lag in rural development, it is often suggested that
small-scale and medium scale enterprises (SME) would help promote rural
development as well as general urban employment. It is however remarkable to
note that inspite of this high hope, little success has been achieved in
Nigeria. The