ACCOUNTING SERVICES AND THE FINANCIAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN CALABAR SOUTH LOCAL GOVERNMENT AREA OF CROSS RIVER STATE, NIGERIA
This study adopted descriptive survey design to established the relationship between accounting services and the financial performance of small and medium enterprises in Calabar South Local Government Area of Cross River State, Nigeria. .It was guided by two research q...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Federal University Wukari
2024-10-01
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| Series: | International Studies Journal |
| Subjects: | |
| Online Access: | https://wissjournals.com.ng/index.php/wiss/article/view/475 |
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| Summary: | This study adopted descriptive survey design to established the relationship between accounting services and the financial performance of small and medium enterprises in Calabar South Local Government Area of Cross River State, Nigeria. .It was guided by two research questions and two null hypotheses. A sample of 60 owners of small and medium enterprises in Calabar South Local Government Area of Cross River State, Nigeria were selected using the accidental sampling technique. .One instrument titled “Accounting Services and Financial performance Questionnaire (ASFPQ) was used for data collection. The reliability of the questionnaire, established using Cronbach Alpha which ranges from .85 to .90. The hypotheses were tested using Pearson Product Moment correlation Coefficient at .05 level of significance. The findings of the study revealed that book keeping, financial reporting individually significantly relate with the financial performance of small and medium enterprises in Calabar South Local Government Area of Cross River State, Nigeria it was concluded that effective financial performance of small and medium enterprises depend on proper bookkeeping and financial reporting. Based on the findings and conclusion of this study, it was recommended amongst others that SMEs should prioritize investing in professional accounting services to ensure accurate financial reporting, bookkeeping and compliance with regulations. This can lead to improved financial performance and strategic decision-making.
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| ISSN: | 2756-4649 |