IMPACT OF COST ACCOUNTING TECHNIQUES ON PERFORMANCE OF SMALL

SCALE MANUFACTURING ENTERPRISES

BY

GROUP B

BEING A RESEARCH SUBMITTED TO THE DEPARTMENT OF

ACCOUNTING, SCHOOL OF MANAGEMENT STUDIES, NUHU BAMALLI
POLYTECHNIC, ZARIA KADUNA STATE.

IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD

OF HIGHER NATIONAL DIPLOMA (HND) IN ACCOUNTING

NOVEMBER, 2022
 GROUP MEMBERS
S/N NAMES REG NO SIGN
1 SALIHU LAWAL HACT2100187
2 TAIWO TOSIN HACT2101924
3 STEPHEN JOSEPH GENESIS HACT2107242
4 ABDULHAKEEM ABDULRA’UF HACT2105459
5 MUJAHIDDEEN MUSA HACT2107777
6 BLESSING MONDAY HACT2100071
7 MUHAMMAD I HAYATUDDEEN HACT2108286
8 GABRIEL FLORENCE HACT2102647
9 PAULINA HARUNA HACT2100373
10 ALIYU AUWAL HACT2100684
11 HAMZA RABI’U HACT21014444
12 MUMINI B MADUGU HACT2101793
13 ABUBAKAR ISIYAKU HACT2102550
14 YUSHA’U BABA SANI HACT2102153
15 JOHNSON KOLO HACT2108575
16 MAGAJI BLESSING HACT2102543
ABSTRACT

This research was critical analyses of the effect of a good accounting system on the performance of
small scale enterprises as it effectively apply to Butterfield Bakery and as a case study. The research
was analyzed after sampling the opinion of staff of the industry in order to get findings on the concept
of good accounting system management. The research conclusively established that optimal
utilization of organization resources is it private or public, big, small or medium is imperative. It must
ensure adequate and up to date training of its human resources as they are needed to carry out and
manipulate other Input in order to make the organization effective. This means that for an
organization to be developed and be efficient, scientific and rational approach to good accounting
system management is the key an underlying factor to achieve this project however, related literature
review were revised and recommended for improvement were revised and recommendations for
improvements were also made for the consideration of company good accounting system.
 INTRODUCTION

Background of the Study

According to (Hussy, 2014), accounting system is defined as “the system designed to record
the accounting transactions and events of a business and account for them in a way that
complies with its policies and procedures. The basic elements of the accounting system are
concerned with collecting, recording, evaluation, and reporting transactions and events”.
Accounting system has also been considered as an integral aspect of the internal control
system of an entity which entails the recording, keeping, analyzing, summarizing,
interpretation and communication of various financial transactions for the purpose of
planning, control and decision making. All forms of business organization, regardless of their
sizes and nature of operation, require functional and reliable accounting system (Gabriel,
2012)

An accounting system is an orderly, efficient scheme for providing accurate financial

information and controls. Regulatory requirements and internal administration policies are
key considerations in the design of an effective accounting system. Thus accounting systems
show the books, records, voucher, and files and related supporting data resulting from the
application of the accounting process. It involves the design of documents and transactions
flow through an organization. The uniqueness of small and medium scale businesses call for
careful consideration in the design of accounting systems (Atijosan, 2013).

Small and medium scale enterprises are a vast majority of businesses found in variety of
primary and intermediate production of the economy (Ayozie, 2013). These establishments
have tremendous impact on the state and well-being of the nation in employment generation,
as sources of national outputs and revenues, providing feedstock for large corporations They
may lack the sophistication to apply the detailed accounting processes, yet the value of
accounting systems to these businesses is quite profound.

The business environment has become intensively dynamic and increasingly unpredictable in
recent decades and, correspondingly, managing company has become more demanding. Cost
Accounting is a task of collecting, analyzing, summarizing and evaluating various alternative
courses of action. Its goal is to advise the management on the most appropriate course of
action based on the cost efficiency and capability. The SMEs sector has been recognized
worldwide for its role in economic advancement through ways various like; wealth
generation, employment creation, and poverty reduction (Kithae, Gakure, & Munyao, 2012).
Small and medium scale enterprises are a fundamental part of the economic fabric in most

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developing countries, and they play a very important role in furthering growth, innovation
and prosperity (Dalberg, 2011).

 Small and Medium Enterprises are critical to the development of any economy has they
possess great potentials for employment generation, improvement of local technology, output
diversification, development of indigenous entrepreneurship and forward integration with
large scale industries.

Cost accounting is a task of collecting, analyzing, summarizing and evaluating various

alternative courses of action. Its goal is to advise the management on the most appropriate
course of action based on the cost efficiency and capability. Cost accounting provides the
detailed cost information that management needs to control current operations and plan for
the future.

 In Nigeria there has been gross under-development of SMEs sub-sector and this has
undermined its contribution to economic growth and development. The key issue affecting
the SMEs can be group into four: unfriendly business environment, poor funding, low
management skill and lack of access to technology (FSS 2020 SME Sector Report, 2007).
Small and medium enterprises (SMEs) play an important role in the development of a
nation’s economy. The reasons for this are the fact that SMEs provide benefits such as job
creations, knowledge spill over, economic multipliers, innovations driver and cluster
development in an economy (Chinaemerem & Anthony, 2012). Given the importance of
SMEs in an economy, it becomes quite plausible to look at factors affecting their financial
performance which is a major determinant of their survival and growth.

An accounting system is an orderly, efficient scheme for providing accurate financial

information and controls. Regulatory requirements and internal administration policies are
key considerations in the design of an effective accounting system. Thus accounting systems
show the books, records, voucher, and files and related supporting data resulting from the
application of the accounting process. It involves the design of documents and transactions
flow through an organization. The uniqueness of small and medium scale businesses call for
careful consideration in the design of accounting systems.Small and medium scale enterprises
are a vast majority of businesses found in variety of primary and intermediate production of
the economy. These establishments have tremendous impact on the state and well being of
the nation in employment generation, as sources of national outputs and revenues, providing
feedstock for large corporations They may lack the sophistication to apply the detailed
accounting processes, yet the value of accounting systems to these businesses is quite
profound.

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Statement of the Reach Problem

A number of Small Scale Industries have not given much attention to book keeping and
accounting system in relation to their business transactions, despite its importance in the
success of businesses. This could be lack of sound knowledge in book keeping and
accounting practices by owners or respective managers. Also, there was difficulty in
ascertaining whether comprehensive accounting records that satisfied the laws under which it
was incorporation had been kept. It is often easy to determine at what extent no adherence to
laid down accounting procedure could affect the present and future existence of small scale
businesses. Difficulty of small scale enterprises could be traced lack of good and liable
accounting system, low educational background of owners and the employment of unskilled
accounting staff which has contributed to the production of unreliable accounting or financial
statement (Barbara, 2016). Except for statutory demands, small and medium scale enterprises
hardly give serious thoughts to the process of sound accounting, yet the inadequacy and
ineffectiveness of accounting processes have been responsible for untimely collapse of a host
of them (Mukaila and Adeyemi, 2013) be done without taking in to cognizance of record of
all transaction during the period. Another problem that manifest during the interpretation of
financial data or evaluation of performance was non-existence of accurate or good accounting
system. Many business owners has failed due to their inability to understand certain rudiment
of book keeping and accounting system

The essence of this research work is to examine the unresolved problems of good and reliable
accounting system among small scale business in Nigeria one of the factors responsible for
sudden collapse of such business. This study was aimed at contributing to resolving the
contending level of inadequacies associated with the maintenance of good book keeping and
accounting system, engagement of inexperience accounting staffs and provision of financial
information for planning and decision making due to inaccurate data. Another problem of
SMEs failure is poor management ability which includes accounting problem-solving. Small
and medium enterprise experiences difficulties in raising equity capital from the finance
houses or individuals. Even when the finance house agrees to provide equity capital, the
conditions are always dreadful. All these result to inadequate capital available to the sector
and thus lead to poor financing.

Purpose of the Study

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The purpose of these study is to examine the impact of cost accounting techniques on
performance of SMEs. Specific objectives include, to:

i. To investigate the types of accounting records being kept and maintained by

SMEs.
ii. To evaluate factors hindering Cost accounting Techniques in SMEs in Port
Harcourt.
iii. To investigate the extent to which accounting information is being used in
measuring financial performance by SMEs.

Research Questions

i. What are the types of accounting records being kept and maintained by SMEs?

i. ii)     What are the factors hindering Cost accounting Techniques and SMEs in
NIgeria
ii. How does accounting information being used in measuring financial performance
by SMEs in Nigeria?

Research Hypotheses

HO1.  There is no significant relationship between types of accounting records being kept and
maintained by SMEs.

HO2   There is no significant relationship between the factors hindering Cost accounting
Techniques and SMEs in Nigeria

HO3   There is no significant relationship between accounting information being used in

measuring financial performance by SMEs in Nigeria.

Significance of study

The impact of Cost Accounting Techniques and performance Small and Medium Enterprise
development has been an area of intense research both in practice and academia. This work is
to prove helpful to existing and potential entrepreneur of SMEs since this study lends
assistance in strategic effect of sources of finance in the performance of a business in order to
plan ahead. The research work could also serve as a source of future reference to future
researchers who may find it helpful in carrying out a research work of similar nature or
related topic.

 This empirical investigation of SMEs is therefore a significant contribution to existing

literature. Furthermore, the study would  provides evidence on the extent to which Rivers

4
state Small and Medium Enterprise are accounting accommodating in readiness for gaining
strategic competitive advantages in their businesses.

The study would also provides uniqueness of small and medium scale businesses call for
careful consideration in the design of accounting systems. Small and medium scale
enterprises are a vast majority of businesses found in variety of primary and intermediate
production of the economy.

Scope and Limitation of the Research

The general scope of this study covers Cost Accounting Techniques and performance Small
and Medium Enterprise. This study is limited by the following factors.

1.       Time: This research will be writing during the school session and the researcher has to
share her time between writing the research and other academic activities (course work).

2.       Finance: Lack of finance really disturbed the researcher from visiting all the SMEs.

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 CHAPTER TWO

LITERATURE REVIEW AND THEORETICAL FRAMEWORK

Introduction

This chapter aims at reviewing important literatures related to research topic. It consists of
both conceptual and theoretical review. In conceptual review the researcher defines the
concepts and terms according to how different authors have defined them and theoretical
literature review provided the different findings from different researcher who has done
similar study. Small scale enterprises has been defined variously by many individuals and
institution using various yardsticks such as numbers of employees, volume of sales, value of
assets, or the volume of deposit in banks (Ademola, 2012). The National Economic
Reconstruction Fund (NERF) defined small and medium enterprises with a reference to the
nature of projects to be financed by the firm which should have a total fixed asset cost
(including land) of not more than N10million. The Federal Ministry of Industry (in respect of
the small scale industries credit scheme) sees small scale industry as any manufacturing,
processing or service industry with capital investment not exceeding N1.5million in
machinery and equipment alone. According to (Atijosan, 2013), a small business is any
manufacturing, processing or servicing industry that satisfies any or all of such condition that
could be laid down by the regulatory body in the country. According to (Ademola, 2012),
Small scale enterprises are catalysts for catalysts for world’s economic growth and
development which have dominated the industrial sector of both developed and
underdeveloped countries.

CONCEPTUAL FRAMEWORK

Concept of Small Scale Business

Generally speaking, there is no consensus on the definition or nature of small scale

businesses worldwide. According to (Salako, 2015) globally, the definition of SMEs varies
from country to country, depending on the parameters considered best suitable to promote the
sub-sector in each country. Different countries, institutions and individuals have put forwards
various descriptions of a small business based on some parameters. (Oshogbemi, 2012) and
(Ayozie, 2013) major requirement for any successful business is to have well planned
organization which sets down the various functions that must be performed. The structure
also outline the responsibilities of all person associated with the enterprise, infarct many
small scale industries have no clear features although some of these businesses do have. For

6
instance the features of small scale industries in Nigeria are below listed; the owner must rate
himself for success in business, nature of the business, the size of the enterprises, and
evaluation of capital equipment, seek professional guidance/knowledge, consider government
regulation and source of raw materials.

Furthermore, (Akinyande, 2015) highlighted the definitions of small and medium scale
industries by different institutions in Nigeria as follows: The Federal Ministry of Industry
defines small- scale enterprise as the one having asset value of not more than N50million,
with not more than 100 workers. The Central Bank of Nigeria (CBN) defines small-scale
enterprise as the one having asset value of not more than N2million, with not more than 50
workers. The Association of Small and Medium Enterprises defines small-scale enterprise as
the one having asset value of not more than 50million, with turnover of not more than
N50million, having not more than 50 workers. From the foregoing discussions, for the
purpose of this study, small scale enterprises are defined as the one with asset value of not
more than N5million, with turnover of not more than N15million, and having not more than
50 workers. Also, the researcher is of the view that what is common to the wide range of
information available on the features of small scale enterprises is that the operations in the
sector are usually in small scale; that production technique is labour intensive and that
ownership is usually private. In most cases the workers in this sector are family members,
apprentices and few paid employees.

Concept of Accounting and Society

Accounting is becoming indispensable in a modern society. Accounting provides information

which is vital to the economic decisions that have to be made by individual and organization
(Anyanwu, 2016). Companies and the governments, large and small scale industries require
the services of accountant to understand what is going on in financial world, to evaluate the
efficiency and effectiveness of business operation and performance. It has been argued out by
financial expert that no individual or business owner can evaluate the performance of
business operation without accounting reports. These become even true with the increased
complexity of the economy and the growth of individual organization. The necessity for
accounting system is underlined by the existence of an accounting department in any major
organization. Most small enterprises often complain of the cost of accounting department. It
will be hard to find a large business enterprise without a well-staffed accounting department.
A good accounting system safe guards and controls the funds of an organization and provides
necessary information (Igboke, 2015).

7
Accounting is now regarded as an information system and forms integral part of management
information system. As an information system, it collects data and communicates economic
information about a business enterprise or other entity to a wide variety of persons whose
decisions and actions are related to the activity. (Anyanwu, 2016) opined that a system is said
to be the composition of various components, while procedure is an order of doing things.
For instance books of original entries cannot be entered unless source documents such as
vouchers, cheque, receipts (received or issued) statement from invoices are firstly acquired.
So also ledger cannot be opened the books of original entries such as revenue books,
expenditures books among others.

Accounting System in Small Scale Firms in Nigeria

The take off and efficient performance of any industrial enterprise be it small or large, will
require sound accounting system. The importance of accounting records and information to
the survival of these business organizations cannot be overstressed. (Nwachukwu, 2015) in
this regard wrote that for an entrepreneur, the most important aspect of his information comes
from financial accounting. This in brief is the score card that consists of balance sheet,
income statement and other supporting documents. They are indicators of growth potentials,
earning ability, liquidity and stability. Recording of business transactions is of that without
recording these transactions, it would be difficult for organization to find out the profit it has
made or loss suffered. This view was supported by (Shukla, and Grewal, 2012) and (Igboke,
2015). However, (Udoh, 2014) agreed that failure in many small scale businesses in Nigeria
is as a result of inadequate record keeping. (Udoh, 2014), further states that, many of the
businesses uses notebooks and clerical staff in recording their transactions and that many of
the people involved in record management are not trained and as such has serious
consequences on record management. From the foregoing discussions, it can be deduced that
even though proper accounting system is of paramount importance to the survival of small
scale firms but available evidence shows that most of them in Nigeria do not keep adequate
accounting record.

Related Concept in Cost Accounting System

i. Journalism: Journalism is described as the process by which item of transactions are

entered in the journal before posting to the ledger. In financial Account Made Easy by
Olusegun .A. Aderonmu and Business Account by Frank Wood and J.O Omuya, journal is
defined as the day to day book wherein both aspects of all transactions are recorded in
chronological order. It is also referred to as the book of first entry. It is used in addition to

8
ledger. In the journal the account to be debited is always entered before account to be
credited and followed by the narration or explanation of the transactions. The explanation is
an essential part of the entry and should commence with word “being”. Transfer of entry
from the journal into the ledger is called posting.

ii. Double Entry Principle: This is a method of book keeping which stipulates that all
items of financial transactions must be recorded twice in respect to the receiving aspect and
giving aspects. For every debit entry, there must be a corresponding credit entry. The
principle of double entry is supported by the dual accounting concept. It is required that
double entry principle should be a vital ingredient of god accounting system in any form of
business organization small, medium or large.

iii. Posting of Records: Posting has been described as the process of transferring items of
transactions from journal to ledger. Posting is one of the essential ingredients of good
accounting system. In most cases, journal accountant and account clerk are usually involve in
posting of transactions from journal to ledgers. According to (Salako, 2015), posting helps to
establish the link between journals (subsidiary books of account) and ledger so as to create
avenue where transactions can be kept permanently

Concept of Cost Accounting Systems

Cost Accounting has been describing it as the process of identifying, measuring and
communicating economic information to permit informed judgments and decisions by the
users of the information. It is characterized as the language of business. (Niswonger and Fess,
2012) several concepts, theories and principle under grid the practice of accounting.
Prominent among them are Going Concern, Consistency, Accrual, Business Entity, Money
Measurement, Prudence and the Double Entry. (Rawat, 2014; Dyson, 2014)Accounting
manifests in several ways such as financial, cost, management and tax accounting. An
accounting system is an orderly, efficient scheme for providing accurate information and
controls. Regulatory requirements and internal administration policies must be considered in
designing an effective accounting system. Accounting system should show the books,
records, vouchers, and files and related supporting data resulting from the application of the
accounting process (Oyewole, 2013). It comprises of steps, procedures, documentation and
devices needed to implement a flow of transaction processing. The non-existence or
inadequacy of internal of internal controls is an avenue for wastes, fraud and defalcation. The
existence of sound system guarantees prompt action and customer satisfaction, thus
increasing potentials for greater incomes and growth in real termed. (Robert et. al. 2013)

9
states that measuring a company’s financial performance and final position requires
establishing a distinct accounting period (Warson, 2013; Shukla et al. 2012).

Cost Accounting Techniques Adopted by Manufacturing Companies

The findings of earlier authors from the studies carried out in manufacturing companies are
discussed below:

Sulaiman et. al. (2019) conducted a study on Strategic Cost Management Accounting
Instruments And Their Usage In Albanian Companies. According to the findings of the
study the most used Strategic Cost Management (SCM) instruments were:
benchmarking strategic pricing, customer accounting, and target costing in their order
of intensity. These instruments were the most used instrument by the Albanian
manufacturing companies and the reason behind this selection of instruments were
primarily related to implementation costs and the usage of the non-financial
information, rather than the cost drivers, that can be a very important factor in
determining the product price. This study shows that in recent years the Albanian
business have successfully adapted to the new economic and technological changes by
adopting strategic cost managements instruments to hold or improve their
competitive advantage in the market

THEORETICAL FRAMEWORK

The Theory of Final Accounts

Final accounts are required by the law to be prepared by business entities most especially
public and private limited liability company. Preparation of financial statement or final
account involves the application of accounting concepts, accounting methods and accounting
policies that will ensure the provision of financial information to the users to make informed
decision (Nnanna, 2016). Final account or financial statement involve the processing of
financial data either manually or using accounting packages so as to supply financial
information for decision making to the internal and external parties (Igboke, 2015).

Need of Accounting System in Small Scale Enterprises

There has been various and series of literature review on the need for good accounting system
in small scale enterprises. A good accounting system and book keeping is necessary and it
often plays a vital role in the survival of small, medium and large enterprises. No matter how
efficient and effective a business is operating, failure to keep adequate record may likely to
spell a company down (Gabriel, 2012). The recording of all transaction in term of their

10
monetary value is very vital as this will have direct effect on financial planning, decision and
control and also on the growth and survival of the entity. According to (Covin, 2013)
accounting record in any kinds of business unit will serve the purpose of giving the owner
information on the degree of efficiency or otherwise, of its management, how and where it
earn most income, what trend there are in the trade or services concerned and what if any step
might be taken to improve its earning capacity. (Salako, 2015) pointed out that a good
accounting system is not only to protect business but also it is required by law. From his own
findings, (Barbara 2016) made it clear that legal financial question may be raised by
government agencies and employees.

Relationship between Accounting Records and Business Performance

Performance of business refers to the ability of business to meet the required standards,
increased market share, improve facilities, ensuring returns on profitability, and total
reduction and once this is achieved, a business is believed to be performing effectively
(Fitzgerald, 2016). Performance refers to an ongoing process that involves managing the
criteria for which an institution, agency or project can be held accountable (Duranti and
Thibodeau, 2016). Typically, these criteria are represented as component parts of an internal
system and cover the institution’s ability to; control financial expenses, satisfy staff, deriver
timely interventions and respond to target group reactions to interventions. (Fitzgerald, 2016)
argue further that business enterprises must improve production if they are to effectively
compete in this era of rapid economic and technical change. Improved productivity requires
both capital investment as well as a work force that has the flexibility to acquire new skills
for newly created jobs resulting from structural changes in the economy. (Bititei, 2016)
asserts that performance is a result of workers because they provide the strongest linkage to
strategic goals of the business enterprise, Customer satisfaction and economic contribution
that affects the business, hence it addresses the mode in which an activity is accomplished in
particular and the level of standards to which a task is carried out within the working
environment. According to (Ikechukwu, 2013), keeping records is crucial for the successful
performance of a business. A comprehensive record keeping system makes it possible for
entrepreneurs to develop accurate and timely financial reports that show the progress and
current condition of the business. With the financial report generated from a good
recordkeeping system, performance during one period of time (month, quarter or year) with
another period can be compared. An accurate record of the business' financial performance is
vehicle to monitor performance in specific areas.

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 RESEARCH METHODOLOGY

Introduction

Research methodology according to Holding, (2015) is a systematic process of collecting,

presenting, analyzing and interpreting data for the purpose of arriving at dependable
Solutions to human problems. This chapter gives the methodology employed in this study,
involving a discussion of data collection analysis techniques. This chapter presents the
research design, methods of data collection and techniques analysis of data to be used in the
study. Effort is made to describe different tools or techniques employed while analyzing the
work. The research focuses on the need for good accounting system in small scale businesses
in Nigeria a case study of Butterfield Bakery.

Research Design

This research is carried out using some techniques such as the use of questionnaires and
personal interview and consulting some textbooks. The research design used was to focus on
the need for good accounting system in small scale industries in Nigerian

Population of the Study

Population is described as the entire member of object that needs to be studied. The
population in this research work was the small scale industries in Nigeria.

Sample Size Determination

A sample is a portion of the population selected for study. It is very important to select
sample size that will give sufficient fair representation of the population.

There are two basic way of making the sample size decision, one is by rule of thumb and the
other one is by calculated method. In this research work, the rule of the thumb was used for
this research where 50 workers of total population were selected as the sample size.

Instrumentation

There are many sources or instrument of data but in this study which is purely analytical, two
instruments for data collection which is primary and secondary data or sources were used.
The instrument used for primary source of data collection by the researcher was questionnaire
and personal interview.

• Questionnaires: The researcher designed a well-structured and multiple choice

questionnaires for the staffs of the industries. The questionnaires were personally

12
administered by the researcher. The questionnaires were distributed and collected
immediately to avoid loss in transit and close-ended questions were asked for simple and
direct responses which the respondents could not easily avoid. Out of fifty questionnaires that
were sent to the field, all were returned.

• Personal interview: Another instrument employed in the process of this study was
interview. This is a means of which data are collected verbally by asking question from the
staff of Butterfields Bakery. This was carried out to gain an insight into the feelings and
belief of those interviewed in order to obtain accurate information.

• Secondary Sources: Secondary data was used in this research work to support the data
obtained from the primary sources so as to gain more information on the subject. The sources
of secondary data used include journals, text books and internet.

The data gathered from the fieldwork will be presented in a tabular form and in statistical
testing of hypothesis, the Chi-square (X2) test of hypothesis was employed in analysis the
data collected.

CONCLUSION

The research work as far as it is concerned is concluded by saying accounting system in small
scale business is very important. The researcher is able to point out the way the accounting
system be kept in the business. Then the minimum records which are considered necessary
for the Butterfield Bakery is also mentioned in this reserach.

During the course of investigation of the activities of the industries, showed that the
proprietor do not know how to make use of financial information in order to know the
performance of their business and this makes the researcher to deal with interpretation and
analysis of a good accounting system in order to help them to know the level of their
performance.

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REFERENCES

Ademola, G. O., Samuel O. J.& Ifedolapo O. (2012),The Roles of Record Keeping In the
Survival and Growth of Small Scale Enterprises in Ijumu Local Government Area of
Kogi State. Global Journal of Management and Business Research Volume 12 Issue
13 Version 1.0 Year 2012

Akinyande, S. O. (2015). Funds to Small and Medium Enterprises: Panacea to Poverty

Alleviation. The Certified National Accountant (ANAN) Vol. 12, No. 1, pp 120-200.

Akwaese, G. C (1987)”Roles of Development Banks” Lagos: Business Times, Monday April

27, p12

Anyanwu, C. M (2016): Financing and Promoting Small Scale Industries: Concepts, Issues
and Prospects. Bullion Vol. 25, No. 3, pp 120-126, Central Bank of Nigeria.

Anyigbo C. I. (2014). Cost and Managerial Accounting Decision Emphasis. Enugu: Itugo2
Publication Limited.

Alabede J. O. (2015). Financial Accounting for Nigerian Students, (1st ed.). Bauchi, Nigeria,
Alpha Graphics Publication.

Aremu, M. A. and Adeyemi, S. L (2013) Small and Medium Scale Enterprises as A Survival
Strategy for Employment Generation in Nigeria. in Journal of Sustainable
Development Vol. 4, No. 1; February.

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