A STUDY ON ACCOUNTING PRACTICES IN MICRO, SMALL AND MEDIUM ENTERPRISES (MSMES) IN KAMRUP DISTRICT OF ASSAM
Micro, Small, and Medium Enterprises (MSMEs)are considered the backbone of the economy in almost every country in the world and India is no exception thereto. The MSME sector plays an important role in creating employment opportunities comparatively at a lower capital cost than large industries and it contributes significantly to the country’s economy. Despite playing crucial for the development of the economy, MSMEs’ sickness is at an alarming rate as they are facing some major problems/challenges. One of the major reasons for the sickness of MSMEs is the lack of proper management. Though the Government is taking initiatives from time to time to support MSMEs, still MSMEs are facing some issues which affect the performance of MSMEs at different levels of their operations. A business, no matter how big or small needs an effective accounting system that plays an important role in the management of the enterprise to sustain and establish long-term operational and financial goals. Accounting helps in decision making; planning and controlling processes as it provides significant information. Accounting is considered a supporting activity for the success of a business entity. This present study has been undertaken to study the accounting practices adopted by MSMEs in Kamrup district of Assam.
Accounting, Management, Micro, Small, Economy.