• BALA

ABSTRACT Because of their unstructured and independent nature, small businesses usually face growth difficulties which are usually attributed to poor financial record keeping. This paper studies small business within Yola, Adamawa state of Nigeria, the aim of this paper is to investigate if they understand the importance and applications of financial statement. A total of 79 businesses in Yola were sampled and questionnaires were distributed to them at random. The data collected was processed, presented and analyzed using simple percentage and frequency distribution tables in Yola have a vague knowledge of financial statement. They mostly have one-side perspective as to what financial statement is all about majority of the small business in Yola are not affiliated and another findings indicate that businesses are aware that proper financial record helps build an investor’s confidence in Business which could be implied that the businesses do not have partners of improper financial record keeping. It was recommended that business owners should employ individuals with moderate academic background who has knowledge accounting or can easily be taught. They should also embark on training so as to know how to keep financial records. It is also recommended that at least yearly or at certain intervals, the business owners should engage the services of auditors to evaluate the business financial records

Key words: Financial statement, Records, Enterprises, failure, income, cash flow, Balance sheet.

"MANAGING FINANCIAL RECORD IN SMALL AND MEDIUM BUSINESS ENTERPRISES IN YOLA METROPOLIS, ADAMAWA STATE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 5, page no.809-814, May-2020, Available :http://www.jetir.org/papers/JETIR2005248.pdf

"MANAGING FINANCIAL RECORD IN SMALL AND MEDIUM BUSINESS ENTERPRISES IN YOLA METROPOLIS, ADAMAWA STATE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 5, page no. pp809-814, May-2020, Available at : http://www.jetir.org/papers/JETIR2005248.pdf