Abstract
This study investigated effects of cost accounting skills on performance of small and medium scale architectural firms in Imo state. Specifically, the study appraises cost accounting skills applied in contract costing and also relationship between efficient financial record keeping and financial performance of architectural firms in Imo state, two hypotheses were developed From the objectives. The population consists of owners of 50 architectural firms in Owerri metropolis, which also served as sample. Primary data was used with questionnaire structured in four point likert scale of very great extent (VGE), great extent (GE), very little extent (VLE) and little extent (LE). Cronbach Alpha reliability test was used to determine internal consistency of respondents responses and reliability co-efficient of 0.796. Data were analysed with ordinary least square regression model with SPSS stastitical tool version 20. Findings reveal that SMEs architectural firms … null hypothesis one was accepted with conclusion that SME architectural firms do not practice cost accounting skill in contract costing while null hypothesis two was rejected with conclusion that significant relationship exist between efficient financial record keeping and financial performance of the firms. The research therefore recommend that; architectural firms should apply cost accounting skills in their contract costing and also keep efficient financial record to enhance their performance.
Highlights
A dynamic small scale enterprise sub-sector is important and imperative for the overall economic development in Nigeria
This study investigated effects of cost accounting skills on performance of small and medium scale architectural firms in Imo state
The population consists of owners of 50 architectural firms in Owerri metropolis, which served as sample
Summary
A dynamic small scale enterprise sub-sector is important and imperative for the overall economic development in Nigeria. Promoting Performance of Smes Architectural Firms in Imo State Through Application of Cost Accounting Skills of tax authorities. According to Onoh (2011) fundamental accounting skill are those competencies in basic accounting required by an individual to perform competently, confidently and successfully in daily business transactions They include skill in book-keeping, purchasing and supply, bargaining, determining labour cost, simple budgeting, keeping of accurate receipts and payments, sales record skills, work in progress records, prudent financial and working management and skills needed for accounting for store and materials among others. This paper set out to investigate effects of cost accounting skills on performance of small and medium scale firms in Imo state
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