THE PLACE OF PROPER AND ADEQUATE FINANCIAL RECORDS KEEPING IN THE SUCCESS OF SMALL SCALE BUSINESS

CHAPTER ONE

INTRODUCTION

1.1            BACKGROUND OF STUDY

In these days, in every part of the country people are engaged in the process of planning and opening up new business every day, already existing business strive for survival. In different stages. These business may fail.

More over, financial record keeping  in modern concern is the most important step to be taken by any serious entrepreneur before and after floating an enterprises, equipment furniture and capital for the business must be into diligently recorded and kept, curiously enough, these business represent will conceived ideas that are well developed by businessmen who have the experiences, the resources and determination to make their business succeed.

In the light of this therefore, it has become necessary to examine another variable in business namely: accounting information in order to high light its importantly its place in the success of small scale business.

The research work will under score the consequences and causes of inadequate and complete lack of proper financial record among our small business proprietors it will also under line the benefits of good financial record keeping ascertain the extent to which sample companies maintain proper and adequate financial records.

Finally, a relationship will be established between proper and adequate financial record and success of small businesses reaming unemployed citizen at the country.

1.2            OBJECTIVE OF THE STUDY

·        To derive total and describe properly the constituent of proper and adequate financial record keeping.

·        Why is it necessary to design a direct and short cut system of a financial record keeping for a specific small – scale business?

·        What are the requisite steps to recommend ways to building and subsequently maintaining effective accounting system for proper maximization of good management

·        To design a direct and shot cut system of financial record keeping specific small business

·        To recommend ways of building and subsequent maintaining effective accounting system or proper maximization of good management and decision – making and optimum growth.

1.3            SIGNIFCANCE OF THE STUDY