Author : Anisiuba C. A(Ph.D), Prof. Okafor R. G., Ezeaku H. C.
The goal of this paper is to carry out an empirical study of the impact of accounting knowledge and skills on the competitive ability of the Nigerian entrepreneurs and the perceived business obstacles. This study was carried out on members of National Association of Small Scale Industries (NASSI) in the South-East of Nigeria using two groups, entrepreneurs that acquired accounting knowledge/skills and their counterparts that did not acquire accounting knowledge/skills. Sample size of 390 from each group totalling 780 was used. Data were collected using questionnaire.Multiple Linear Regression (MLR) and ANOVA were used for hypotheses testing. The result of the MLR in which competitive ability was predicted using budgeting (B), financial management techniques (FMT), and management report (MR) as predictors revealed a positive significant regression equation (F(2,777) = 30.005, p < 0.05, with an R2 of .67 showing that there is a positive significant relationship between competitive ability and accounting knowledge/skills. Also, F-value of 17.569 > Fcritical of 4.35, and p < 0.05 showed that there is a significant difference in the perceived business obstacles between entrepreneurs that have accounting background and those that do not have accounting background. The researcher recommended that business organisations should improve their competitive ability by deliberately imbibing the culture of budgeting, adherence/utilization of accounting reports/policies, and possessing the arts of financial management. They should also guide against the identified business obstacles irrespective of their educational background for excellent business performance and sustainability.
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