ASSESSMENT OF ACCOUNTING PERSONNEL IN SELECTED SMALL AND MEDIUM ENTERPRISES IN EDO STATE


ASSESSMENT OF ACCOUNTING PERSONNEL IN SELECTED SMALL AND MEDIUM ENTERPRISES IN EDO STATE     

ABSTRACT

The objective of this research study is to assess accounting personnel in selected small and medium enterprises in Edo State, Staffing is one of the most important functions of management. It is an aspect of human resource management that include finding sufficient number of people who will take up employment in the business enterprise and selecting from the number of those who would be offered employment. The staffing function is housed in the human resource or personnel department of most large organizations. Finding and keeping good accounting employee is not a matter of luck but rather the result of aggressive recruitment, careful selection, proper training and motivation and thoughtful management. This may include manpower, planning to reconcile the organizations need for human resources with the available supply of labour in the local and national market.

Using the survey research method through the use of questionnaire. It was found that most SME business in Edo State do not carry out proper selection and recruitment process. This was seen to be largely caused by the fact that qualified accountant were too expensive to maintain; to most respondents, the fees/ salaries qualified accountants charge their employers is very high and that accounting records are too difficult to understand.

It was recommended that the owners of SME businessesshould always carry out proper job analysis to ascertain the extent kind of employees needed. This will lead to knowing the right recruitment and selection method to adopt.

Training and development program should be available for all levels of employees and not just for only new employees. This will bring about improvement of work methods adopted by the organization and objective job evaluation should always be known or stated to enhance its effectiveness.

TABLE OF CONTENTS

Page

Title page   i

Certification   ii

Dedication   iii

Acknowledgements   iv

Table of Contents   v

Abstract   vi

CHAPTER ONE: INTRODUCTION

1.1 Background to the study 1

1.2 Statement of the research problem 3

1.3 Research Questions 3

1.4 Objectives 4

1.5 Hypothesis of the study 5

1.6 The scope of the study                                                      6 

1.7 The relevance and significance of the study             6

1.8 The limitation of the study 6

CHAPTER TWO: LITERATURE REVIEW

2.1 Introduction   8

2.2 Accounting function 10

2.3 Auditors Function 11

2.4 Tax Analyst Function 11

2.5 Staffing as a form of management 11

2.6 Manpower Planning             13

2.7 Job analysis             15

2.8 Job description             16

2.9 Job Specification              16

2.10. Recruitment             17

2.11 Types of Recruitment              18

2.12. The selection process              20

2.13. Placement              22

2.14. Training and Development              23

2.15. Training methods              25

2.16. Behavior Modeling Training              26

2.17. Characteristics of Good Training Program              27

2.18. Performance Appraisal              28

2.19. Informal Appraisal              29

2.20. Formal Appraisal              30

2.21. Compensation or Rewards (separation)              31

2.22. Situational Factors affecting staffing              32

CHAPTER THREE: METHODOLOGY

3.1 Introduction                   34

3.2 The Population of the study         34

3.3 Sample size and sampling technique         34

3.4 Population and sample size          34

3.5 Source of Data Collection 35

3.6   Technique of Analysis 35

CHAPTER FOUR: DATA PRESENTATION ANALYSIS AND INTERPRETATION

4.1 Introduction          36

4.2 Data Presentation and analysis          36

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction          52

5.2 Summary of Findings          52

5.3 Conclusion          54

5.4 Recommendation          54

Bibliography                                                           56

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

An accountant is one who observes economic activities of an enterprise and records the observations in the prescribed books, analysis his recordings, interprets his analysis and prepares reports to all users of accounting information.

The accounting process involves two main stages, the bookkeeping stage and the financial account phase or stage. The preparation of the accounts that can aid an organization to take informed decision rents squarely at the quality and size of accounting personnel in such organization. Staffing is indeed very important to all organization. For Small and Medium Scale Enterprises to succeed, the need for quality accounting personnel and adequate new member cannot be overemphasized.

Staffing is one of the most important functions of management. It is an aspect of human resource management that include finding sufficient number of people who will take up employment in the business enterprise and selecting from the number of those who would be offered employment. The staffing function is housed in the human resource or personnel department of most large organizations. While in the smaller organizations where there is often the absence of a well defined separate personnel department, the process of staffing is conducted by the manager of the owner of the business.

However, whether small, medium or large scale enterprises, the purpose of staffing is ensuring that positions within the organizations are filled and remain filled with competent workers during the organization to ensure that goals are met. Most writers have agreed that staff is composed of   the   following   point:   recruitment,   selection, placement, training and development, employee appraisal, conceptualization and separation. From this it can be concluded that staffing involves process related to balancing the workload with available resources, recruiting, selecting among candidates for open position. Employment leaving the organization and transitioning into new position. (Carnegie Mellon University 001:109) human resource is considered the most valuable yet volatile and potentially unpredictable resources which an organization utilizes. If an organization fails to place and direct human resources, in the right areas of business, at the right time and the right cost, serious inefficiencies are likely to arise, creating considerable operational difficulties and likely failure (Braham 1990; Smith 1971). Acquiring and maintaining an adequate staff is the best asset an organization can have (Clifford 1989:145).

Finding and keeping good accounting employee is not a matter of luck but rather the result of aggressive recruitment, careful selection, proper training and motivation and thoughtful management. This may include manpower, planning to reconcile the organizations need for human resources with the available supply of labour in the local and national market.

The small and medium scale enterprises are found wanting when it comes to obtaining loan for their operations and growth.

To obtain bank assistance, financial statement and quality of accounting personnel is one of bank requirements. The bank wants to ensure the quality of decisions making. It is for this reason that this study is assessing the quality and size of accounting personnel in SMEs in Edo State.

1.2 Statement of the Problem 

Too much focus has been paid to large company when it comes to evaluate the quality and size of accounting personnel. It is quit understanding also because the large company can afford to hire and retain accounting personnel. Little or even nothing has been done to capture the position in SMEs. This has created a serious gap in knowledge. This is what this study attempts to bridge.

1.3 From the above the following Research Questions were derived

1. What is the distribution of accounting personnel in term of the availability, number and quality of the selected SMEs?

2. What are their academic and professional qualifications of each accounting staff and which professional bodies do they belong, in the selected SMEs?

3. What is the gender classification of the account personnel in SMEs in Edo State?

4. What is the respective level of exposure in accounting training and ICT.

5. What type of training  they have under gone for the past five years 

6. What are the various areas of their specialized duties?

1.4 Objectives of the Study

The broad objective of this study is to evaluate the quality and adequacy of accounting personnel in the selected 250 SMES in Edo State. The specific objective include:

1. What is the distribution of accounting personnel in term of the availability, number and quality of the selected SMEs?

2. What are their academic and professional qualifications of each accounting staff and which proportional bodies do they belong, in the selected SMEs?

3. What is the gender classification of the account personnel in SMEs in Edo State?

4. What is the respective level of exposure in accounting training and ICT.

5. What type of training  they have under gone for the past five years.

6. Are their effective internal functional department?

7. Are they vast in ICT, taxation, auditing and computer package?

8. What are the various areas of their specialized duties?

1.5 Hypothesis of the Study

To facilitate the investigation the following hypotheses have been formulated:

HYPOTHESIS 1

Ho: The Profitability and growth of an SMEs is not significantly determined by the quality and Availability of Accounting Personnel 

H1: The Profitability and growth of an SMEs is significantly determined by the quality and Availability of Accounting Personnel

HYPOTHESIS 2

Ho: Quality and Availability of Accounting Personnel is negatively related to an SMEs financial performance.

H1: Quality and Availability of Accounting Personnel is positively related to an SMEs financial performance.

HYPOTHESIS 3

Ho: Quality and Availability of Accounting Personnel is negatively related to an SMEs size. 

H1: Quality and Availability of Accounting Personnel is positively related to an SMEs size.

1.6 The Scope of the Study

The research work focuses on the evaluation of accounting personnel in small and medium scale business in selected 250 SMES in Edo State. The selected SMES are purely limited liability companies.

1.7 The Significance of the Study

This work is significant because it will produce data that will be useful to:

1. Entrepreneur to maximize profitability and growth

2. To personnel managers in job placement.

3. The researcher and student of management on assessment of accounting personnel in SMES.

1.8 The Limitation of the Study

This case study research design has limitations because accounting personnel assessment is to be studied in only a few limited liability companies. This will make it difficult to generalize the finding to other companies. The questionnaire method data collection is limited to verbalize responses to predetermined answer to the questions. The structure and standardize format of the questionnaire may force the respondents to give answer that they do not fully endorsed.

References

Agboola, A. (2003). Global E-Government: Theory, Application and Benchmarking. Idea Group Incorporated.

Carnegie, Mellon University (2001). Staffing a process area at maturity.

Clifford, M. Baumback (1992). Basic Small Business Management (O.A.U. Press).

.

ASSESSMENT OF ACCOUNTING PERSONNEL IN SELECTED SMALL AND MEDIUM ENTERPRISES IN EDO STATE



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.ORG
Researchwap.org is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.org guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.org is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.org" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.