creditors book and debtors book

Large number of small and tiny business units do not maintain even proper books of accounts, which are necessary for proper control of the business. Past experience and intuition plays important role in financial decision making. Among the other factors, the non-use of financial tools and techniques for financial decision making has resulted in a variety of financial problems,which the small unit faces (Vinayak, 1987).Das & Dey (2010) conducted study about the uses of financial accounting tools techniques among the small business owner/ managers of North-Eastern region of India. They discovered that only 12 out of 27 financial & management accounting tools and techniques were known to owner/ managers. Out of these 12 known instruments excepting cash book, creditors book and debtors book (100% aware), the awareness level on other techniques were very low.





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