The need of a good accounting system in a small scale business

TABLE

OF CONTENT

Title

Page………………………………………………………………………………..

Certification

……………………………………………………………………………

Dedication

………………………………………………………………………………

Acknowledgement……………………………………………………………………..

Abstract

…………………………………………………………………………………

Table of Contents………………………………………………………………………

List of

Tables……………………………………………………………………………

List of figures

CHAPTER

ONE

1.1             

Introduction………………………………………………………………………..

1.2             

Background of the

study…………………………………………………………..

1.3             

Statement of the

problem………………………………………………………….

1.4             

Main objective of the

study………………………………………………………..

1.5             

Specific objectives of the

study…………………………………………………….

1.6             

Research

questions…………………………………………………………………..

1.7             

Statement of the

hypothesis………………………………………………………..

1.8             

Justification of the

study……………………………………………………………

1.9             

Scope of the study………………………………………………………………….

1.10         

Definitions of terms

………………………………………………………………..

CHAPTER

TWO

2.0       Introduction……………………………………………………………………….

2.1       Conceptual frame

work…………………………………………………………….

2.2       Theoretical frame

work……………………………………………………………..

2.3       Literature on the

subject……………………………………………………………..

CHAPTER 3

3.0       Areas of

study……………………………………………………………………….

3.1       Research design and sources of

data………………………………………………...

3.2       Instrumentation…………………………………………………………………….

3.3       Procedure for data collection and data

analysis……………………………………

3.4       Limitations of the

study…………………………………………………………….

CHAPTER

4

4.0       Data analysis, findings and

discussion……………………………………………..

4.1       Findings of the

study………………………………………………………………..

4.2       Discussion of the

findings……………………………………………………….

CHAPTER

5

5.0       Summary of

findings……………………………………………………………….

5.1       Conclusions………………………………………………………………………..

5.2       Recommendation………………………………………………………………….

5.3       Proposals for further

studies………………………………………………………

            Biography

  CHAPTER ONE

1.1             

INTRODUCTION

According to (Hussy,

2004), accounting

system is defined as “the system designed to record the accounting transactions

and events of a business and account for them in a way that complies with its

policies and procedures. The basic elements of the accounting system are concerned

with collecting, recording, evaluation, and reporting transactions and events”.

Accounting system has also been considered as an integral aspect of the

internal control system of an entity which entails the recording, keeping,

analyzing, summarizing, interpretation and communication of various financial

transactions for the purpose of planning, control and decision making. All

forms of business organization, regardless of their sizes and nature of

operation, require functional and reliable accounting system (Gabriel, 2012)

An

accounting system is an orderly, efficient scheme for providing accurate

financial information and controls. Regulatory requirements and internal

administration policies are key considerations in the design of an effective

accounting system. Thus accounting systems show the books, records, voucher,

and files and related supporting data resulting from the application of the

accounting process. It involves the design of documents and transactions flow

through an organization. The uniqueness of small and medium scale businesses

call for careful consideration in the design of accounting systems (Atijosan, 2003).

Small and medium

scale enterprises are a vast majority of businesses found in variety of primary

and intermediate production of the economy (Ayozie, 2013). These establishments

have tremendous impact on the state and well being of the nation in employment

generation, as sources of national outputs and revenues, providing feedstock

for large corporations They may lack the sophistication to apply the detailed

accounting processes, yet the value of accounting systems to these businesses

is quite profound.