Challenges in Financial Reporting in Small and Medium Enterprises in Buwate ,Wakiso District.
| dc.contributor.author | Faith Whitney Amukun | |
| dc.date.accessioned | 2023-09-08T04:05:55Z | |
| dc.date.available | 2023-09-08T04:05:55Z | |
| dc.date.issued | 2023-09-05 | |
| dc.description | This is a dissertation. | |
| dc.description.abstract | The study sought to examine the challenges faced in financial reporting in Small and Medium Enterprises (SMEs) in Buwate, Wakiso district. The study was guided by three objectives: establishing the level of financial reporting in SMEs, finding out the benefits of financial reporting in SMEs and establishing the challenges faced in the process of financial reporting in SMEs in Buwate and the possible measures undertaken. The study was carried out using explanatory research design where quantitative research approach was utilized. Stratified sampling method was used to get a sample of 80 respondents who were SME owners and managers of the selected businesses dealing in segmented businesses and assorted merchandize and these responded to the questionnaires that were used to collect data. From the study findings, it was revealed that there is a generally positive level of financial reporting, with respondents acknowledging the accuracy, reliability, and compliance of their financial reports. The benefits of financial reporting were evident in informed decision-making, enhanced credibility, and improved access to funding. However, challenges in data gathering, limited financial resources for robust reporting systems, and understanding accounting standards need attention. Moreover, time constraints and limited access to qualified professionals pose additional obstacles. In conclusion, addressing these challenges is vital to further strengthen financial reporting practices in SMEs and contribute to their sustainable growth and success in Buwate. Finally, the study recommends promoting independent auditing and review in SMEs to enhance credibility and reliability of financial reporting, alongside providing capacity building and training on accounting standards. Improving financial data management, ensuring access to financial resources, and supporting qualified professionals are crucial. Timely reporting and fostering collaboration among SMEs will strengthen financial reporting practices. Regular monitoring and evaluation are essential for continual improvement in financial reporting for small and medium businesses in Buwate. | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12311/993 | |
| dc.language.iso | en | |
| dc.publisher | Uganda Christrian University | |
| dc.title | Challenges in Financial Reporting in Small and Medium Enterprises in Buwate ,Wakiso District. | |
| dc.type | Dissertation |