The Relevance of Accounting Information Practice on Small and Medium Scale Enterprise (SMEs) in Nigeria: A Theoretical Appraisal (Published)
This study theoretically reviewed the relevance of accounting information practice on SMEs in Nigeria. Accounting information is to provide high quality financial reporting. The qualitative characteristic of any accounting information system (AIS) can be maintained relative to ensuring the achievement of its operational goals and performance. This paper adopted library and theoretical literature survey approach and employed quotient research analysis with the use of secondary publications. The study identified SMEs as a catalysts instrument for economic growth and development. It noted that the ineffectiveness of AIS is the bane behind premature collapse of SMEs in Nigeria. The paper observed that proper AIS has enhanced SMEs success and provided requisite information support needed. The paper also noted that AIS has provided the basis for making strategic decision and understanding the accuracy of financial situation of SMEs in Nigeria. It therefore concludes that SMEs have the capacity to turning it fortune through AIS. Hence, studies have showed that financing options require information system that involves objectivity. However, those saddled with the responsibility of mentoring, nurturing as well as revamping SMEs in Nigeria should task them to adopt proper AIS and rescind from encouraging SMEs with credit facilities and other products alike if proper AIS is not maintained.
Citation: Umanhonlen O.F., Umanhonlen I.R., Enofe, O. A. (2022) The Relevance of Accounting Information Practice on Small and Medium Scale Enterprise (SMEs) in Nigeria: A Theoretical Appraisal, European Journal of Accounting, Auditing and Finance Research, Vol.11, No. 1, pp.8-44
Keywords: Accounting information, SMEs, System, dynamism and flexibility, performance measure, practice, quality financial reporting
THE EFFECT OF USING ACCOUNTING INFORMATION SYSTEMS TO IMPROVE THE VALUE CHAIN IN BUSINESS ORGANIZATIONS – EMPIRICAL STUDY (Published)
The study aims to introduce the conceptual framework of the value chain as an analytical method for business organizations, and the analysis of the role of accounting information systems and the effect of their use in improving the value chain of the business organizations. The two researchers developed a study tool (questionnaire) based on the theoretical framework and previous studies. 64 questionnaires have been distributed to a sample of the study population, which consists of employees in the finance department of public shareholding industrial companies in the Kingdom of Bahrain. 50 questionnaires have been adopted and 14 were excluded due to their incompatibility with the analysis. Using the appropriate statistical analysis tools for the study data (arithmetic mean, standard deviation, and testing of T-test One Sample) the researchers found a deficiency in the level of the availability of the basic components of accounting systems and the level of the quality of accounting information required to improve the value chain of business organizations in public shareholding industrial companies in the Kingdom of Bahrain in general. According to the results of the analysis the researchers recommended the need to work on improving the level of the basic components of accounting systems to improve the quality of accounting information, in order to improve the value chain of public shareholding industrial companies in the Kingdom of Bahrain; specifically in regards to the existence of clear and specific work procedures in the accounting system, the level of the effectiveness of internal control measures, clear definition of responsibilities and authority, and management’s attention in training and continuing education programs for employees.
Keywords: Accounting, Decision Making, Information, System, Value Chain