Forecasting and financial statement adjustment; The case of retail stores in KwaZulu-Natal, South Africa

Abstract

No AccessForecasting and financial statement adjustment; The case of retail stores in KwaZulu-Natal, South Africa Mzwandile Atkins Mbambo Odunayo Magret Olarewaju Brian Thulane Ngiba Mzwandile Atkins Mbambo0 http://orcid.org/0000-0001-6408-6868 Search for more papers by this author Odunayo Magret Olarewaju0 Search for more papers by this author Brian Thulane Ngiba0 http://orcid.org/0000-0001-5242-839X Search for more papers by this author Affiliations 0Durban University of Technology Published Online:1 Mar 2021https://hdl.handle.net/10520/ejc-aa_ajber_v16_n1_a14SectionsPDF ToolsAdd to favouritesDownload CitationsTrack Citations ShareShare onFacebookTwitterLinked InRedditGMailHotmailYammer AboutAbstractThe research paper examines the effects of forecasting on the financial statement adjustment for retail stores in KwaZulu-Natal, South Africa. The study used quantitative design method. A questionnaire was designed for this study and 200 copies were issued to five respondents per retail store in each of the two different branches of the 20 stores in KwaZulu-Natal listed on the Johannesburg Stock Exchange. The Exploratory Factor Analysis was employed in this study. Furthermore, a regression test was prepared to estimate the effect of the independent variable on the dependent variable. The findings showed that pricing and inventory forecasting cause financial statements adjustment in retail stores. Thus, it was concluded that retail store forecasts will influence the business flow cycle if mismanaged. To have more reliable financial statements, adjustments have to be made accordingly. Smooth operations in retail is highly dependent on future predictions. Previous article Next article FiguresReferencesRelatedDetails None Volume 16, Issue 1 | Mar 2021 AffiliationAdonis & Abbey PublishersThe International Bibliography of Social Sciences (IBSS)EnglishBusiness and FinanceInternational JournalsAccreditationThe International Bibliography of Social Sciences (IBSS)LanguagesEnglish InformationCopyright © 2021, Adonis & Abbey Publishers:All rights reservedKeywordsPricingInventoryFinancial Statement AdjustmentFinancial statementsJohannesburg Stock Exchange Disclosure The authors confirm that the manuscript has been read and approved by all named authors and that there are no other persons who satisfied the criteria for authorship but are not listed. The authors confirm that they have given due consideration to the protection of intellectual property associated with this work and that there are no impediments to publication, including the timing of publication, with respect to intellectual property. Ethical conduct of research The authors state that they have obtained appropriate institutional review board outlined in the Declaration of Helsinki for all human or animal experimental investigations. A signed informed consent document has been obtained from all participants included in the study.