AUTOMATED ACCOUNTING SYSTEM AND SMEs PERFORMANCE IN AMUWO-ODOFIN LOCAL GOVERNMENT AREA, LAGOS, NIGERIA
Abstract
Automated Accounting Systems had proved to be well valued assets in the past and present and has a lot of advantages on the performance of firms that make use of them. This paper examined automated accounting systems and the performance of SMEs as the main objective. Other specific objective examined was the effect of automated accounting system on the accuracy of financial statements of SMEs. Primary data in form of a self-made questionnaire was administered to twenty SMEs in Amuwo-Odofin LGA. Regression analysis was adopted in the analysis of the data. This study found out that the correlation coefficient (R)=0.656, β=0.356, P=0.05 indicating a moderately strong positive correlation. The paper found out that automated accounting systems are necessary for the positive performance of SMEs in Amuwo-Odofin, Lagos and it was recommended that SMEs should adopt an automated accounting system.
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