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Inadequate accounting system of a medium scale distribution firm in Sri Lanka: a case study

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dc.contributor.author Fernando, LCP
dc.contributor.author Ferdinando, KPMWUA
dc.contributor.author Shehara, WLY
dc.date.accessioned 2023-01-05T04:54:34Z
dc.date.available 2023-01-05T04:54:34Z
dc.date.issued 2022-12-01
dc.identifier.uri http://dl.lib.uom.lk/handle/123/20089
dc.description.abstract This study explores the reasons behind the inadequate accounting system of a medium-scale distribution firm in Sri Lanka, where a problematic manual accounting system has been run for many years, and provides recommendations to overcome this issue. Due to the firm's existing accounting system, many problems have arisen: issues in inventory management, delays in preparing financial statements, and errors in the accounting process. This study adopts a qualitative methodology using semi-structured interviews for gathering data. Our findings suggest the main reasons for having an inadequate accounting system in this firm: inherent issues in the manual accounting system, the impact of information technology, lack of knowledge of accounting staff on new technology, obstacles that resist organizational change, the inappropriateness of record keeping, the reluctance of senior management to hire qualified staff, poor job assignment for accounting staff, and the attempt of top management to reduce the number of staff members. This study highlights the importance of a proper accounting system for entities that have not been enforced by the regulatory bodies to record financial information, and this study aids in identifying reasons behind the inadequacy of their accounting systems. en_US
dc.language.iso en en_US
dc.publisher Business Research Unit (BRU) en_US
dc.subject Accounting system en_US
dc.subject Inventory management en_US
dc.subject Preparing financial statements en_US
dc.subject Errors in accounting process en_US
dc.subject SMEs en_US
dc.title Inadequate accounting system of a medium scale distribution firm in Sri Lanka: a case study en_US
dc.type Conference-Full-text en_US
dc.identifier.year 2022 en_US
dc.identifier.conference International Conference on Business Research en_US
dc.identifier.place Moratuwa en_US
dc.identifier.pgnos pp. 163-177 en_US
dc.identifier.proceeding 5th International Conference on Business Research en_US
dc.identifier.email cpunsala96@gmail.com en_US
dc.identifier.email wageeshaferdinando@gmail.com en_US
dc.identifier.email yauni1996@gmail.com en_US


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