 |
| Business man |
Any businessman going into the production of goods and services is to make profit. In other to achieve this ultimate goal therefore, he must be able to put in place qualified financial experts to handle the financial aspect of the organization, besides employing good managers to mange the resources of the organization efficiently and effectively.
The task of managing the financial resources of any business, so that profit can be maximized is that of an accountant.
An accountant therefore is seen as a person whose profession is to keep or check financial accounts. It is also referred to as a qualified financial experts who uses different accounting techniques and tactics in the ascertainment and reduction of cost vis-à-vis maximization of profit in many business organization. For the purpose of this study, we shall restrict ourselves to the role of these financial experts in the small scale business world.
The Nigerian bank for commerce and industries has defined small scale business as those firms or companies with assets (including working capital but excluding land) not exceeding N750,000 and paid employment up to fifty (50) persons.
To be able to accommodate our study in this research work, manufacturing units exceeding the limit of investment and employment as stated above may still be considered as, small scale business output, is relatively small compared to prevalent sizes of plants and the technology is fairly labour intensive .
DEFINITION OF ACCOUNTING
Accounting is an interesting field of study that have permeated all aspect of human endeavour . This is because as a social process it entails responsibilities for an effective planning and regulations of operation of an enterprise in fulfilment of a given purpose of task. Such responsibilities involves
i. Judgement and decisions in determining plans and progress of the business
ii. Guidance, integration, motivation and supervision of personal comprising the enterprise and carrying out its operations. Okafor and Udu (2005) in the work said that management refers to those charges with the responsibility of taking actions that will make it possible for individuals to make their best contributions to group objectives.
Accounting as stated by Igben is the process of collecting, recording, presenting information and analyzing or interpreting financial information for the uses of financial statement. It involves collecting, recording, evaluation and communication of economic events qualified in monetary terms. Its basic roles facilitate control processes in management activities so as to provide means for making intelligent business decisions.
Management therefore requires Accountant for the record of accounting information for the purpose of making;
i. Plans and controlling the affairs of the organizations.
ii. Choices among alternatives and
iii. Policy decisions
Chukwu (2004) sees accounting as the process of recording, classified, summarizing, analyzing and interpreting financial transactions and communicating the result therefore to the interested users.
SUMMARY
The role of accountant which is independent objective assurance and consulting activities designed to add value and improve enterprise operations. It helps on enterprise to accomplish its objectives by brining systematic disciplined approach to evaluate and imp rove the effective of risk management, control and governance process as it concerns Cuttix enterprise.
1. The following findings were made in the course of an enterprise. The presence of an accountant in the enterprise made every employee to sit up thus resulting to over all efficiency which leads to improved performance in the enterprise.
2. Proper management and accounting system can help to make small scale business more viable, effective, efficient, and successful as 88% of the total population respondents agreed on it.
3. The accountant in Cuttix enterprise has positively contributed to the financial system of the enterprise. The accountant always monitor every transactions thus fraud is also almost at a zero level since staff are conscious of the presence and function of accountants
4. Proper staffing and financing of the enterprise positively affects its efficient performance.
Download This Paper