INVESTIGATING THE ROLE OF COMPUTERIZED ACCOUNTING SYSTEM IN THE DEVELOPMENT OF SME`s IN SIERRA LEONE

Abstract

The success or failure of modern commercial institutions is largely determined by accounting. An accounting system that uses computer technology to collect and handle financial data in businesses is referred to as computerized accounting, also known as electronic or system-based accounting. This study explores SMEs` computerized accounting practices in Sierra Leone. The study also examines effective financial record keeping identifying the role of computerized accounting. The research design is based on a survey methodology that uses a simple random sample design of SMEs selected throughout the country. For the purpose of this research, data were collected using self-structured questionnaire consisting of both open ended and closed questions from that SMEs use accounting software to generate financial information. The main value of this study is the discussion of the computerized accounting practices of SMEs in Sierra Leone. The research has provided valuable input and knowledge on how SME entrepreneurs in Sierra Leone view and use financial information across all districts It is suggested that the government should broaden its efforts to promote SME entrepreneurs by creating a side-by-side approach to beneficiary prospects.