Appraising The Role Of Financial Accounting Literacy On The Performance Of Small And Medium Enterprises (SMEs):- Udo Bliss C.

ABSTRACT

 The study appraised the role offinancial accounting literacy on the performance of SMEs. Specifically, the study determined the role offinancial accounting literacy on the performance of small and medium scale enterprises and also determined the impact offinancial accounting literacy on the performance ofsmall and medium scale enterprises. To attain the above specific objectives the study adopted the survey research design, which was descriptive in nature. The study used simple linear regression analysis to test the significance offormulated hypotheses. The empirical result obtained showed that financial accounting literacy has a significant impact on the performance ofsmall and medium scale enterprises and that there is a significant relationship between financial accounting literacy and the performance of SMEs. Based on the above findings, it was recommended that awareness be created to the SMEs on the importance ofparticipating in financial accounting literacy training program to quip the staffwith financial accounting literacy information and skills; stakeholders providing financial accounting literacy in Nigeria should consider adding ICT as one ofthe critical components ofthe training andproviding adequate information on information accounting literacy as this will opens more doors to sourcefor information on the available accountingpackages capable ofimproving the performance and efficiency ofSMEs in Nigeria and lastly that research work should be undertaken to look at how financial accounting literacy influence SMEs” entrepreneurs in otherparts ofthe countryfor comparison purposes.