TABLE OF CONTENTS
DECLARATION
APPROVAL ii
DEDICATION iii
ACKNOWLEDGMENT iv
TABLE OF CONTENTS
LIST OF TABLES ix
LiST OF ACYROMNS x
ABSTRACT xi
C~ONE:.,,...,.,,, , . . . . * . . . . . . . . . I
INTRODUCTION I
1.0 Introduction
1.1 Background to the study 1
1.2 Statement of the problem 2
1.3 The purpose of the study 2
1 .4 Objective of the study 3
1.5 Research Questions 3
1.6 Scope of the study 3
1.6.1 Subject scope 3
1.6.2 Geographical scope 4
1 .7 Significance of the study 4
1.8 Conceptual framework s
V
CH.A.PIbER ‘I’~~O . ... 6
LIuI~Ep_AIvtJRE ‘~TIE’~A1 • 6
2.0 Introduction .6
2.1 Importance of Record Keeping in Small Scale Enterprises 6
2,1.0 Record keeping 6
2.1.1 The importance of record keeping for SMEs 7
2.1.2 Types of records kept in SMEs 10
2.2 Basic record keeping requirements 12
2.3 Performance monitoring 15
CH.A.P’I’ER ‘I’HREE: .....~.. 18
METHODOLOGY ...•.•.•• ..•.••.••.•..•..... ................ 18
3.0 Introduction 18
3.2 Study Population 18
3.3 Sample Size
3.4 Source of data 19
3.4.1 Primary data source 19
3.4.2 Secondary data source 19
3.5 Data collection methods and instruments 19
3.5.1 Questionnaires 20
3.5.2 Documentary Review 20
3.6 Data collection procedure 20
3.7 Data processing and analysis 20
vi
CH.A.P’I’ER FOtJr~. . 22
PRESENTATION, ANALYSIS AND INTERPRETATION OF FINDINGS ~
4.0 Introduction 22
4.1 Demographic characteristics 22
4.1.1 Gender 22
4.1.2 Age bracket 23
4. 1 .3 Education level 24
4.2 Importance of record keeping in Huda tours and travel Company.. 25
4.3 Financial implication of record keeping at Huda travel and teui
company 27
4.4 Methods used in record keeping at Huda ravel and tour company. 28
CH.AP’I’ER FI~JE ... 30
DISCUSSION, CONCLUSION AND RECOMMENDATIONS 30
5. 1 Introduction 30
5.2 Summary of findings 30
5.2.1 Importance of record keeping to the organization
5.2.2 Cost implications of record keeping to the organization 32
5.2.3 Methods used in keeping records; 32
5.3 Conclusion 34
5.4 Recommendations 34
5.5 Area of further stud
ABSTRACT The study concerns the record keeping and performance of small scale enterprises. The study was carried out in HUDA tours and travel The main intention of this research was to establish as to whether record keeping affects the performance of SMES. The study was carried out on 25 respondents with the help questionnaires and personal interviews, primary and Secondary data was collected using questionnaires a~~d reviewing literature on this research topic. The findings in this research showed that record keeping has great effect on the performance of SMES on management of the business an& decision making. More so the research also showed that record keeping is a cost to the business where by some extra employee has to be employed to undertake the job of record keeping, more so the hard ware needed for effective record keeping such as computers stationary and others are highly costly. This is because of the little profits made by small enterprises and also medium enterprise. More so it was found out that the SMEs do not keep complete accounting records because of lack of accounting knowledge and the cost of hiring professional accountants. As a result, there is inefficient use of accounting information to support financial performance measurement in SMEs. in addition to the above research also show that business manager in these SMEs as for the case of HUDA TOURS AND TRAVEL are willing to learn more on how to keen their records but in vain. Thus the findings and recommendations in this report will help SMEs such as HUDA TOURS AND TRAVEL and the government in drawing policies on how to improve the performance of SMEs through proper record keeping.