MSME managing small business

The implication from this study is that there is a gap between the theory of accounting and actual use of accounting tools for managing small business by the owners/managers of MSMEs in Tripura. Most of the respondents in this present study, making less use of financial accounting tools and techniques for systematic record keeping or any kind of financial business decision making.Debtors book is the most used books of accounts, followed by creditors book, profit & loss account, and balance sheet by the owner/manager of the responding MSMEs of Tripura.Cash and bank balance is the most used tools for controlling purpose followed by profit & loss account and balance sheet.Though the users for these accounting tools and techniques are significantly less, perceived to be important for these financial accounting tools and techniques are satisfactory as good number of respondents consider these tools and techniques as either moderately important or important.



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