THE EFFECT OF POOR ACCOUNTING RECORD ON SMES PERFORMANCE IN ABAJI LOCAL GOVERNMENT AREA OF FCT
Abstract
ABSTRACT
This study examined the effect of poor accounting records on the performance of Small and Medium Enterprises (SMEs) in Abaji Local Government Area of FCT. The study adopted a survey research design, with a population of 200 SMEs and a sample size of 100 respondents selected through stratified random sampling. Data were collected using questionnaires and analyzed using descriptive and inferential statistics. The findings revealed that most SMEs in Abaji LGA do not maintain accurate accounting records, which adversely affects their financial performance. Factors such as lack of accounting knowledge, inadequate training, financial constraints, and weak regulatory enforcement were identified as major causes. Based on the findings the study concluded that poor accounting record affected the performance of small and medium enterprises (SMEs) in Abaji Local Government area of FCT. The study recommends increased financial literacy programs, adoption of accounting software, and stronger government support to enhance SME sustainability and profitability.
Keywords: Accounting Records, SMEs, Poor Record-Keeping, Financial Performance, Abaji LGA
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