THE NEED FOR ACCOUNTING EDUCATION IN SMALL SCALE INDUSTRIES

By

OKORO EDWIN

Presented To

Department of Accountancy

ABSTRACT

The face is generally recognized that small scales industries constane the major of business organization in Nigeria.

The problem tend to investment of the investigate, the small scale industries the propose of carrying that this study is ascertains of the necessary for small scale industries to acquire knowledge effectively.

In this study, the research tries to fund out if there is any relationship between accounting and management to small scale industries.

The result finding also showed that small scale industries play, important role in an economy that be courtants managers of small scale industries will increase their managerial skill if they acquire some training in accounting while attending summers. The research sees accounting as can in enable knowledge in the management of small business enterprise.

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE

1.0 Introduction

1.1 Back Ground of Study

1.2 Statement of Problems

1.3 Purpose of Study

1.4 Signification of Study

1.5 Scope and Limitation of the Study

1.6 Definition of Terms

CHAPTER TWO

2.0 Related Literature Review

2.1 Contempt of Small Scale Industries

2.2 Accounting Problems in Small Scale industry

2.3 Importance of Accounting to Industries

2.4 Role of Accountant.

CHAPTER THREE

3.1 Summary of Finding

3.2 Conclusion

3.3 Recommendation

Bibliography

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF STUDY

Accounting is an old as the exchange process (Whether) barter or monitory that gradually developed with civilization.

We study accounting for business and not business for accounting, second communication and exportation of business idea seen to be the most important function of accounting as it relates to business, it is a fact that business organization can not do without making use of accounting information and ideas in their day to days activities the significance of accounting education in a developing nation such as ours can not be payed down, in short, accounting evolved in orders to locate responsibility prevent fraud guide industries in their bads in attendance of their organization goals, it equally provide solution to their numerous problems.

Development of small scale industries small scale industries developed in most rural areas as peascents training on palm produce with crude milling equipment and probably few important madines the generses of small scale industries began form the processing of food down to the manafactucing of basic tools and other implement for out daily use.

Every small scale industrialist has profit at the back of his mind before carrying out the project at the higher the amount, the more prove to accountability so small scale industrialist should be able to give account. It is therefore important that small scale enterprise be well equipped with proper accounting because it will ensure confidence and proper financial procedure, Hence, good record keeping give in details the knowledge of expense in come as profit or loss is the first step to wards profitable management of any business.

1.2 STATEMENT OF PROBLEMS

Small scale industries to play a major part in the overall economic development of nation a look at the Nigeria business sectors show that small scales business are frequently but they either do not grow or they under go negative growth.

At worse, those that can not keep up with the harsh economic environment winds up one of the problem that hind success in small scale business as lack of relevant experience or lack of adequate accounting education that make for poor management of the industries, little attention is parts to this issue of accounting education.

Further more, lack of accounting education for small scale industries can arise due to:

1. Ignorance of the need for accounting education in the sense that they do not have accounting development to record their day to day transaction.

2. The do not employ experts who have the wide knowledge of accounting.

1.3 PURPOSE OF STUDY

The purpose of carrying out this study is to as contains.

1) Whether there is any relationship between accounting and management in business.

2) To investigate the necessary for the small scale industrialist to acquire knowledge of accounting with those with our such.

3) To compere those managers with knowledge of accounting with those without such knowledge.

4) To see whether those without knowledge of accounting will be willing to participate in any program designed to provide then with knowledge of accounting.

5) To suggest avenues through which they can acquire knowledge of the accounting.

1.4 SIGNIFICANCE OF STUDY

The study will be beneficial to many people in the following ways.

1. It will enable the (problems) proprietor to appreciate the needs to acquire accounting education.

2. Other intending business will also appreciate the need to acquire the knowledge of accounting, it they to manages their business effectively.

3. The government will not collect more revenue, but the expenses of collector such revenue will be reduced.

4. The industrialist will see the need for occasional auditing, the young accountant will be afforded the opportunities for gainful employment.

5. Those industrialist without the knowledge of accounting will not know avenues through which they can acquire accounting education.

1.5 SCOPE AND LIMITATION OF THE STUDY

This study would have been more extensive but for the following limitation raging form.

1) Time: The allotted time for the study is too short and more especially, they are not that text books in our institution library to carry out the research works, so as the researcher runs around from one library to the other researching for text books.

2) Finance: We are new in a very serous economic recession so, it is not easy to have sufficient money to understand a work of this nature, again the researcher is a student who is a worst hit during this ture.

1.6 DEFINITION OF TERMS

Technology or technical terms used in this study are defined below since majority of them may be liable to different interpretations.

Accounting the classification recording and interpretation of business transaction so that periodic statement can be presented to medicate either the historical results of those transaction or the financial condition of the business.

Accounts: A formal records of a transaction expressed in money and keot in a Journal.

Accounting records: The formal journal and ledgers and vouchers, in voice correspondences contracts and other success of support for the books of account.

Transaction: A typical business event which can be expressed in monetary terms and most be entered in accounting records.