Designing Appropriate Basic Accounting System For SMEs.

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Akerele, E.K.
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The study focuses oft the crucial roles played (SMEs) in the economies of developing third countries. It is in realization of these roles that there had been strong advocacy with continued impetus for the promotion of SME that deliberate policies have at various times led to the establishment of people oriented programmes such as Family Support Programme (FSP), Family Economic Advancement Programme (FEAP). etc. The study reveals problems inherent ln SME's with emphasis on poor accounting system.It discusses the provision of the law and standards on accounting records and explain further on the analysis of the duration for accounting records, annual returns and the accounting standards. The paper examined accounting system, and also the characteristic of a good internal control system. The study concluded that accounting finds application in almost all fields of human endeavour and also plays the role of measuring and communicating to interested parties the rate of resource utilization and the results achieved there from. A reliable accounting system is indispensable for the growth of any SME.
Staff Publication
SMEs , Equity Funding Scheme
Akerele,E.K.(2004) Designing Appropriate Basic Accounting System For SMEs.Global Journal of Accounting. Vol.1, (1).