Prospects And Challenges Of Accounting In Small Scale Industries In Umuahia

ABSTRACT

 This study examined survey results on the Prospects and challenges of accounting in small scale industries within the Umuahia, capital city of Abia state, Nigeria. Findings revealed that basic book-keeping practices were not in operation in many of the enterprises with majority (52%) frequently seeking external assistance in their business accounting wise. Also, the absence of control systems has contributed significantly to their exposure to lapse, perceived misappropriations and reported losses with the micro business segment being the worse affected. Future research and policy directions in respect of training and capacity development targeting specifically business segment differences and needs have been recommended.