Impact of Financial Record Keeping on Sustenance of Smes in Gwalgalada Area Council of Fct
Student: Omotolani Josephine Makanjuola (Project, 2025)
Department of Accounting
University of Abuja, Abuja, Fct
Abstract
This comprehensive study delves into the pivotal role of financial record-keeping in the sustainability of Small and Medium Enterprises (SMEs). Drawing on a diverse range of sources, including surveys, reports, and scholarly works, the research investigates various dimensions of SMEs' financial practices and their impact on sustainable development. Utilizing primary data from a structured survey that includes 85 SMEs across different sectors and employing descriptive and regression analyses for test of hypotheses. Positive correlations between effective record-keeping and SME growth highlight the importance of financial practices. Regression analysis further indicates that a higher understanding of bookkeeping practices significantly influences SME growth. Recommendations include enhancing awareness and understanding through workshops and training sessions, promoting active involvement in record-keeping, and evaluating compliance with accounting standards. Implementing these strategies can enhance SME performance and contribute to their longterm viability and growth.
Keywords
For the full publication, please contact the author directly at: jomakanju01@gmail.com
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Institutions
- Mohammed Lawan College of Agriculture, Maiduguri, Borno State 12
- Moshood Abiola Polytechnic, Abeokuta, Ogun State 7
- Nasarawa State University, Keffi, Nasarawa State 8
- Niger Delta University, Wilberforce Island, Bayelsa State 28
- Niger State College of Education, Minna, (Affl To Usmanu Danfodiyo Uni, Sokoto) 1
- Nigeria Maritime University, Okerenkoko, Delta State 1
- Nigerian Army University, Biu, Borno State 3
- Nile University of Nigeria, Abuja 3
- Nnamdi Azikiwe University, Awka, Anambra State 98
- Northwest University, Kano, Kano State 179