Browsing by Author "Tumwebaze, Lydia"

Now showing 1 - 2 of 2
  • Thumbnail Image
    Item
    Accounting standards and financial reporting small enterprise (Mukwano Group of Companies Uganda)
    (Kampala International University: College of Economics and Management, 2015-05) Tumwebaze, Lydia
    The study will aimed at establishing the relationship between accounting standards and financial reporting in Mukwano Group of Companies. It was accompanied by the following objectives, to examine the relationship between accounting standards and financial reporting, to establish the procedures of setting accounting standards, and to find out the factors that inhibit the adoption of accounting standards in the financial reporting in Mukwano Group of Companies the study was explanatory and descriptive, designed. The study explored a population of 100 respondents out of which a sample size of 80 people was obtained using solven's formula. This study used primary data instrument to collect and publications by the same organization that collected them. Research instruments such as observation, interview and questionnaire were also used. The researcher made the following conclusions it will be established at accounting standards are rules primarily and intended to be founded in order to present consistent and favorable financial reports. Standards avoided to present consumption's management from checking unsuspecting investors. They provide guidelines of what to conclude in the financial reports and how it will be reported. It will be also established from the work of Zecharia Bolo of Moi University and Dr. Samuel Sejjaka that most small and medium enterprises do not prepare financial reports and in cases where some do; they fall short of generally accepted standards. Therefore small enterprises like Mukwano Group of Companies will adopt proper and better financial reporting practices like adopting accounting standards. Since it's a fact that small and medium enterprises make up the majority of business in Uganda the benefits will also extend to the economy as a provision of security and other services by the Mukwano Companies. Accounting standards if adopted as recommended by (ICPAU) by SMe's, will give formats on preparations of financial reports and the accounting documents to include in the final report. This will most likely prolong the continuity of SMEs and will go along away in removing the a aforementioned inadequacies in SMEs reporting and enable them acquire the much needed finance from financial institutions and hence better reporting. The researcher made the following recommendations, Mukwano Group of Companies should carry out a cost and benefit analysis to find out whether the benefit of preparing proper financial statements as defined by international accounting standards exceeds the costs, Mukwano Group of Companies' management should acquire more knowledge in business management and financial reporting. Going for training in preparation of financial reports and performance can do this from educational Centres like the small business Centre in Kampala International University, Mukwano Group of Companies' management should adopt accounting standards when preparing their financial statements; this practice will make their financial reports comparable and consistent.
  • Thumbnail Image
    Item
    Micro finance institutions and rural development; a case study of Rukungiri town council
    (Kampala International University, College of Economics and Management, 2007-10) Tumwebaze, Lydia
    Micro-finance institutions that include cooperatives, credit unions, NGOs and some commercial banks were identified as the only financial institutions that would serve the poor. The services provided include savings and credit, assistance with group formation, business information and training services to their clients. Utilization of the services will enable the poor to increase their income levels, reduce poverty levels and women clients will be empowered. Despite MFls’ efforts to reach the poor in rural communities, the poor are still unemployed, their level of poverty is high, and their general welfare is also low. The study was guided by both general and specific objectives; to establish the impact of MFls on rural development. The specific objectives to: examine how MFls have contributed development in Rukungiri town council, find out the challenges faced by MFIs while rendering their services to the rural people in the area and establish the strategies they have put in place to help overcome the challenges. The study was also based on a descriptive case study research design and both primary and secondary data was used in the study. Primary data was obtained with the help of researcher-administered questionnaires. The findings were analyzed in line with the objectives and found out that MFIs have to a greater extent contributed to development in the area. Through the services rendered, the MFls clients were able to increase their income and reduce poverty levels. However, MFIs are faced with challenges while serving the people in the area that included high transaction costs, lack of appropriate products for the poor. And MFIs have tried to put in place strategies to help overcome some of the challenges like the classification of the rural people so that they can be assisted accordingly, adoption of credit registers. The researcher made recommendations on various aspects like savings, credit, and training so that the quality of the services could be improved. And that the government of Uganda should utilize Twesigye (1995)’s recommendation so as to be able to realize development in rural areas.