The study dealt with the place of accounting knowledge in entrepreneurial success in Nigeria. This
study was carried out on members of National Association of Small Scale Industries (NASSI) in the South-East of
Nigeria by ascertaining the business success level and the perceived business success factors of entrepreneurs that
acquired accounting knowledge and their counterparts that did not acquire accounting knowledge over 5 year
period (2008 – 2012). Sample size of 390 from each group totaling 780 was used. Data were collected using
questionnaire and secondary source. z-test statistic and ANOVA were used for hypotheses testing. The result showed
z-value of 8.659 (p = 0.000 < 0.05) for average annual turnover, and z-value of 3.936 (p = 0.000 < 0.05) for
average annual profit, both results indicating a significant difference in the business success level of the two groups
with exceptions. Also, F – value of 0.008 0.05 revealed that there is no significant
difference in perceived business success factors between the two groups, but ranked accounting knowledge/skills as
the first business success factor. The researcher recommended that business organisations should ensure
maintenance of relevant financial data and information, and utilize the identified business success factors for
excellent performance and sustainability.

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