Fundamentals of Book Keeping Among Small-Sized Enterprises In South-South Nigeria

Abstract

Some small-sized enterprises business owners lack book-keeping strategies to sustain business growth overtime. This study evaluated the fundamentals of book-keeping among small-sized enterprises business owners in South-South Nigeria. The researcher sampled 74 participants across the geopolitical zone of Nigeria. Structured 10-item book-keeping, SSEs performance and sustainability rated on 5-point scale Likert was the study’s measuring instrument. The collected data for hypotheses testing were subjected to correlation coefficient (r) analysis at 0.05 level of significant. Calculated value 0.96 > 0.87 critical value and calculated value 0.89 > 0.87 critical value were obtained respectively for SSEs performance and sustainability. The findings revealed that there was no differentiation between the dependent variable (y) and independent variable (x). In other words, the performance and sustainability of SSEs in the South-South zone Nigeria is sensitive and dependent that SMEs should employ professional in the field of book-keeping who will orient them on the principles and procedures for good and acceptable record keeping. Besides, the notion and concept that book-keeping is for big organization and multinational companies must be discarded if they want to remain focused in this time of jet entrepreneurs.