The Effect of Record-Keeping on Financial Performance of Small and Medium Scale Enterprises in Uganda in Lira City

Okello Apollo
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Okello Apollo: Department of Accounting and Finance, Uganda Martyrs University P.O. Box 5498 Kampala (U)

International Journal of Research and Innovation in Applied Science, 2022, vol. 7, issue 5, 44-53

Abstract: The study sought to examine the effect that Record-keeping could have on financial performance of SMEs in Lira city. The researcher used both descriptive and correlational design. The study adopted a quantitative approach. The researcher used simple random sampling in selecting 118 SMEs operators in the service sector that formed the sample size of the study. A structured questionnaire was used as the main instrument of quantitative data collection from the selected SMEs Operators. Completed questionnaires were edited, coded, and entered into and categorized into themes and analyzed using SPSS 20 for Windows. Bivariate analysis in form of Pearson’s product moment correlation was used to show the direction and strength of the relationship between each dimension of Record-keeping and financial performance. Regression analysis was also used to test the effect each construct of Record-keeping on financial performance. The study therefore concludes that Record-keeping has effect on financial performance of SMEs and recommends proper record filling, retention and retrieval in order to improve financial performance of SMEs

Date: 2022
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