Towards growth and financial stability: The case of SMEs' accounting practices in Lae City, Papua New Guinea
Uloženo v:
| Název: | Towards growth and financial stability: The case of SMEs' accounting practices in Lae City, Papua New Guinea |
|---|---|
| Autoři: | Luis R. Alamil, CPA, FFA-Aus., Ph.D_BA*, orcid:0000-0002-2402- |
| Informace o vydavateli: | Zenodo |
| Rok vydání: | 2024 |
| Sbírka: | Zenodo |
| Témata: | Accounting practices, growth, financial stability, SMEs, Lae City, Papua New Guinea |
| Popis: | Purpose: This study determined the impact of accounting practices on the small and medium business enterprises’ growth and financial stability in Lae City, Morobe Province, Papua New Guinea. Methodology: This study adopted a descriptive study design and used primary data gathered through questionnaire consisting of dichotomous questions and Likert scale on the parameters of each variable. The study surveyed 75 small and medium enterprises established in Lae City. Data were analyzed using descriptive analysis with the aid of rank, percentage, weighted mean and standard deviation. Chi-square test of independence was used to test the relationship of accounting practices to the business growth and financial stability of SMEs in the cited city. Finding: The demographic profiles of sampled SMEs in Lae City are varied as well as their methods and systems in practicing accounting. The influence of sound accounting practices to the business growth and sustainability of SMEs was high; while practicing accounting improperly had relative effect to the business. SMEs faced great challenges in implementing sound accounting practices. The research also found a significant relationship between sound accounting practices and business growth and financial stability. Implications: The small business entrepreneurs in Lae City, PNG should invest more resources in gaining accounting knowledge and developing skills of the contemporary and sound accounting practices. Accounting knowledge and skills is an important tool of SMEs towards analysis of results of the business operations and financial health; and, advantage points to their risk management implementation along operations, financing, and investment decision making. The availability of systematic records determines how they manage their funds. Good accounting practices can help SMEs assess risk levels due to fraud and theft, uncollected receivables, delay in settling payables, and high penalties in reporting incorrect income and expenses to government agencies. Value: ... |
| Druh dokumentu: | text |
| Jazyk: | English |
| ISSN: | 2583-9705 |
| Relation: | https://zenodo.org/records/13078444; oai:zenodo.org:13078444; https://doi.org/10.5281/zenodo.13078444 |
| DOI: | 10.5281/zenodo.13078444 |
| Dostupnost: | https://doi.org/10.5281/zenodo.13078444 https://zenodo.org/records/13078444 |
| Rights: | Creative Commons Attribution 4.0 International ; cc-by-4.0 ; https://creativecommons.org/licenses/by/4.0/legalcode |
| Přístupové číslo: | edsbas.77A8C8F7 |
| Databáze: | BASE |
Nájsť tento článok vo Web of Science | Abstrakt: | Purpose: This study determined the impact of accounting practices on the small and medium business enterprises’ growth and financial stability in Lae City, Morobe Province, Papua New Guinea. Methodology: This study adopted a descriptive study design and used primary data gathered through questionnaire consisting of dichotomous questions and Likert scale on the parameters of each variable. The study surveyed 75 small and medium enterprises established in Lae City. Data were analyzed using descriptive analysis with the aid of rank, percentage, weighted mean and standard deviation. Chi-square test of independence was used to test the relationship of accounting practices to the business growth and financial stability of SMEs in the cited city. Finding: The demographic profiles of sampled SMEs in Lae City are varied as well as their methods and systems in practicing accounting. The influence of sound accounting practices to the business growth and sustainability of SMEs was high; while practicing accounting improperly had relative effect to the business. SMEs faced great challenges in implementing sound accounting practices. The research also found a significant relationship between sound accounting practices and business growth and financial stability. Implications: The small business entrepreneurs in Lae City, PNG should invest more resources in gaining accounting knowledge and developing skills of the contemporary and sound accounting practices. Accounting knowledge and skills is an important tool of SMEs towards analysis of results of the business operations and financial health; and, advantage points to their risk management implementation along operations, financing, and investment decision making. The availability of systematic records determines how they manage their funds. Good accounting practices can help SMEs assess risk levels due to fraud and theft, uncollected receivables, delay in settling payables, and high penalties in reporting incorrect income and expenses to government agencies. Value: ... |
|---|---|
| ISSN: | 25839705 |
| DOI: | 10.5281/zenodo.13078444 |