ABSTRACT

This study was to find out the level of awareness and indulgence in financial record keeping in the Small and Medium Scale Enterprises by the Ghanaian population. This was to help ascertain whether there was the need for financial records keeping and also to bring to the fore, the benefits that people can derive from the keeping of financial records. In view of this study, probability sampling was adopted in choosing a sample size of 40 to represent the Nkawkaw Township. Various questions were asked in the questionnaires administered and the responses collated. From the responses, it was established that the Nkawkaw Township truly have a high awareness of financial record keeping but low level in engaging in it. The owners of Small and Medium Scale businesses in the Nkawkaw Metropolis were also found to be experiencing a number of problems that needs to address. In view of this, the researcher made recommendations that will help increase the awareness and indulgence in the level of financial record keeping. It is believed that due recognition would be giving to the recommendations made and also future research would be directed into areas not covered by the study to help improve the Ghanaian financial record-keeping system.