Home » Accounting » WORKING CAPITAL MANAGEMENT PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN NI...
WORKING CAPITAL MANAGEMENT PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
Sold By: Joe Project Store | Item Type: Project Material | Report this? | Attributes: 175 pages | 1-5 chapters | Amount: ₦5,000 | Marked useful: 7,919 times
Delivery: Within 24 hoursWORKING CAPITAL MANAGEMENT PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA ( A CASE STUDY OF SOME SELECTED SMES IN UYO)
ABSTRACT
The main thrust of this study is to unveil the working capital management practices of small and medium scale enterprises in Akwa Ibom Stateof Nigeria. A well designed and implemented working capital management is expected to contributes positively to the creation of a firms values.
The study used descriptive and analytical sample survey for the representation and the analysis of the findings. The result shows that 87.4% of the entrepreneurs functioned as sole proprietors, whiles 14.1% as partnership and the remaining 1.5% as cooperative societies.
The results again shows that 46.1% received credit from suppliers and the average credit period given by SMEs to their credit customers ranged between seven to sixty days(7-60days).From the study , two main problems faced by SMEs in dealing with credit customers are late payment and bad debts.
The results shows that 52.8% of the respondents use note books to represents cash books whiles non(0%) of the respondents use computer inventory control. 65.3% of the respondents have bank accounts for their businesses. Personal savings accounted for about 35.7% of the start up capital and SMEs consider inflation /price increases to be more problematic than even high debtors turnover period and low stock turnover.
The SMEs should establish organizations and groups like civil society organizations, regional, district ,community and interest groups to jointly organise and sponsor training programmes for their accounting personnel. There is also the need for SMEs to identify their investment priorities particularly those that are crucial in sustaining their businesses in the long run. They should sacrifice a chunk of their funds to finance and achieve these priorities that will enable them to generate extra cash or profits to plough back into other sectors of their industries.
It is also recommended that SMEs should prepare budget at each time they intend to embark on major expenses. This will forestall unnecessary, unwanted, overestimated and underestimated expense. There is also the need for SMEs to formulate credit policy for their enterprise and to create a re-order level policy for their institution that will create an enabling environment for them to request for their supply of moderate and high quality stocks.
This material content is developed to serve as a GUIDE for students to conduct academic research
Delivery: Within 24 hours
Advertise Here
Not what you were looking for? Perform a search
What's your project topic?
Comment on Facebook:
Related Project Materials
- 1.
INVESTIGATING FORENSIC AUDIT AS A PANACEA FOR PREVENTING CORPORATE FRAUD IN CAMEROON'S PUBLIC SECTOR
CHAPTER ONE INTRODUCTION 1.1 Background of the study The proliferation of financial crimes in these developing economies is concerning and catastrophi...More »
Item Type: Project Material | 54 pages | 220 engagements |
- 2.
INTERNAL AUDIT: EXAMINING ITS ROLE IN ENSURING ETHICAL CONDUCT IN CHENWI-ASSOCIATES, CAMEROON
INTERNAL AUDIT: EXAMINING ITS ROLE IN ENSURING ETHICAL CONDUCT IN CHENWI ASSOCIATES, CAMEROON CHAPTER ONE INTRODUCTION Background of the Study Auditin...More »
Item Type: Project Material | 54 pages | 190 engagements |
- 3.
EXTERNAL AUDIT AND QUALITY OF ACCOUNTING AND FINANCIAL INFORMATION IN THE CAMEROONIAN PUBLIC SECTOR
CHAPTER ONE INTRODUCTION 1.1 Background of the study The main purpose of external audit as a governance mechanism is to enhance the accuracy and trust...More »
Item Type: Project Material | 54 pages | 181 engagements |
- 4.
EXAMINING THE ROLE OF FORENSIC AUDIT IN DETECTING FINANCIAL FRAUDS IN THE CAMEROONIAN PUBLIC SECTOR:...
CHAPTER ONE INTRODUCTION 1.1 Background of the study Forensic auditing and forensic accounting are often used interchangeably. It has been officially ...More »
Item Type: Project Material | 54 pages | 193 engagements |
- 5.
EXAMINING THE IMPACT OF THE AUDIT REPORT ON INVESTMENT IN FINANCIAL INSTITUTIONS IN CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background of the study According to the Companies Act, all registered companies must present audited accounts to their s...More »
Item Type: Project Material | 54 pages | 205 engagements |
- 6.
EXAMINATION OF CHALLENGES ENCOUNTERED BY INTERNAL AUDITORS IN PUBLIC SECTOR AUDIT OF CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background of the study The demand for internal auditing mostly arises from the necessity for an independent verification...More »
Item Type: Project Material | 54 pages | 215 engagements |