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VOLUME 03 ISSUE 12 DECEMBER 2020

A Challenge of Accounting Practices on Small and Medium Enterprises (SMEs): Case Study of Palestine.
1Adnan A.A. Qubbaja, 2Ishaq A.H. Talahmeh
1,2Department of Finance, Palestine Ahlia University-Bethlehem- Palestine
DOI : https://doi.org/10.47191/ijmra/v3-i12-07

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ABSTRACT:

This paper examined the accounting practices of SMEs drawing on a survey of 100 SMEs in Palestine. The results revealed that majority of SMEs failed to keep proper accounting records pertaining to their businesses. Consequently, it was difficult for the owner-managers to determine the profit earned or loss suffered in the business during a particular accounting .The major reasons for the entities failure to maintain proper accounting records and prepare a complete set of financial statements included inability to prepare financial reports as a result of poor records keeping, Lack of skills, inability to prepare financial Reports, Distrustful attitude of owner /manager, Cost of hiring qualified employees, finally fear to disclose all information to government.

It is recommended that training programs must be organized to sensitize owners/managers on the need to maintain proper books of accounts. The government should also come out with the necessary legal instruments to make the preparation of proper books of accounts mandatory in order to improve SMEs practice of accounting in Palestine.

KEYWORDS

Accounting practices of SMEs, Palestine, SMEs practice of accounting

REFERENCES

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2) Dawuda, A & Azeko, I. 2015, An Assessment of Financial Records Keeping Behaviour of Small Scale Businesses in Ghana: A Case Study of Bolgatanga Municipality, International Journal of Finance and Accounting 4(3), 187-194

3) Deresee Lakew, Zerihun Biribirsa , 2017 Does Access to Formal Financial Sources Leads to Growth of Micro and Small Enterprises? Evidence from West Oromia Region, Ethiopia Journal of Developing Country Studies,volume7, pp .61-69

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17) Williams and Susan Haka and Mark Bettner and Joseph Carcello, 2018. Financial Accounting 17th Edition, McGraw-Hill Education

VOLUME 03 ISSUE 12 DECEMBER 2020

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