Impact of Accounting Records on Business Performance: A Case Study of Registered SMEs in Osogbo, Osun State

This study focused on the impact of accounting records on business performance of selected SMEs in Osogbo, Osun State. Specifically, the study evaluated the influence of accounting records on turnover, profitability, return of assets of some selected SMEs in Osogbo, Osun State. A descriptive research design was adopted. Questionnaire was administered to 146 registered SMEs selected by simple random sampling approach while only 108 copies were returned and used for the study. Both descriptive and inferential statistics were adopted to analyse the data. The results of the study showed that accounting records had positive
influence on turnover, profitability and the return on asset of the selected registered SMEs. The study concluded that adequate accounting records that followed relevant accounting standards and guidelines would positively impact on business performance of the registered SMEs. It was recommended that effective accounting records were needed to enhance performance of the SMEs.