Browsing by Author "Gloria Nalubiri"

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    An Assessment of Finacial Reporting in Small and Medium Enterprises: A Case Study of SMEs in Lugazi Municipality-Uganda.
    (Uganda Christian University, 2023-08-31) Gloria Nalubiri
    This study sought to assess financial reporting in Small and Medium Enterprises (SMEs) in Uganda – Lugazi Central Division and it particularly focused on International Financial Reporting Standards (IFRS) for SMEs. Specifically, the study examined the awareness and understandability of IFRS for SMEs, the limitation of the implementation of IFRS for SMEs and assessed the benefit of adopting IFRS for SMEs to SMEs in Uganda – Lugazi Central Division. A survey design was used and a sample of 66 SMEs was selected from 80 SMEs in Lugazi Central Division. Of the 66 questionnaires that were distributed, only 32 were answered hence they were used as the final sample size of the study. The findings of the research unveiled the following key insights. First of all, the findings of the study showed that majority of SMEs were in there start up and their number decreased over the next period. Secondly most of the respondents had minimal awareness and understanding of the IFRS for SMEs due to the various challenges faced during implementation of the standards. The findings also showed that some SMEs did not understand the benefits of investing in and implementing IFRS for SMEs. On the other hand, the few that seemed to adhere to the IFRS for SMEs were notably benefiting. The discussions depicted an agreement between study and previous topics on the same topic. The researcher therefore concluded that the short life span of the SMEs could be attributed to poor financial reporting practices in terms of failure to adhere to the IFRS for SMEs. Lastly the researcher presented some recommendations and also area for further research for other research.