Adoption of GAAP: An Insight Into the Small & Medium Enterprises

Veena Babani and Gunjan Agrawal Sharma
Additional contact information
Veena Babani: Assistant Professor, Vivekanand Education Society?s Institute of Management Studies & Research, Chembur, Mumbai, India.
Gunjan Agrawal Sharma: Manager (Credit), Allahabad Bank, Nariman point, Mumbai, India.

Indian Journal of Commerce and Management Studies, 2015, vol. 6, issue 3, 63-72

Abstract: This paper analyses the financial accounting practices that are adopted by SME’s, which are operating in Mumbai in the state of Maharashtra. The sample consists of 57 units consisting of, manufacturing firms, suppliers of various services and retail shops through administration of a structured questionnaire. The findings of the study says that most of the enterprises do not record each and every financial transaction and do not follow the accounting rules that are framed by the regulatory authorities. Thus, a further attempt was made to find out the reason for not recording the financial transactions. The findings reveal that the enterprises finds recording the transaction as a time consuming activity, which involves efforts and knowledge and the owners also lacks accounting education.

Keywords: GAAP; Accounting; SME’s and Accounting Practices. (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://scholarshub.net/index.php/ijcms/article/view/134/128 (application/pdf)
http://scholarshub.net/index.php/ijcms/article/view/134 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aii:ijcmss:v:6:y:2015:i:3:p:63-72

Access Statistics for this article

Indian Journal of Commerce and Management Studies is currently edited by Dr. Arif Anjum

More articles in Indian Journal of Commerce and Management Studies from Educational Research Multimedia & Publications,India
Bibliographic data for series maintained by Mr. Asif Anjum ().