IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Functions and Reliability of International Financial Reporting Systems of Rural Smes in Kwazulu Natal: Knowledge and Understanding of Financial Management

Listed author(s):
  • Lawrence Mpele Lekhanya


    (Durban University of Technology)

Registered author(s):

    A review of the understanding of the functions and reliability of International Financial Reporting Systems applied by rural SMEs in KwaZulu Natal (KZN) will determine the level of knowledge and understanding in the use of financial management by rural entrepreneurs in KZN, in order to evaluate the functions reliability of financial reporting systems of rural SME in KZN. Mixed approaches of both qualitative and quantitative techniques were used to collect primary data from five rural villages in KwaZulu Natal. The results of the survey revealed that the majority of respondents do not follow proper international financial reporting international standards. They do, however, use traditional methods in recording their cash collections by using exercise books to keep daily records. Further research should aim to establish financial management training needs of rural SMEs in KZN. Financial management and financial reporting systems knowledge and understanding by rural entrepreneurs will be improved. The paper provides practical guidance on how to perform financial management activities and financial reports as applied in remote rural areas.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    Article provided by Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences in its journal International Journal of Academic Research in Accounting, Finance and Management Sciences.

    Volume (Year): 3 (2013)
    Issue (Month): 3 (July)
    Pages: 125-132

    in new window

    Handle: RePEc:hur:ijaraf:v:3:y:2013:i:3:p:125-132
    Contact details of provider: Web page:

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    in new window

    1. Francis Aboagye-Otchere, 2012. "The International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMES): Suitability for small businesses in Ghana," Journal of Financial Reporting and Accounting, Emerald Group Publishing, vol. 10(2), pages 190-214, October.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:hur:ijaraf:v:3:y:2013:i:3:p:125-132. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hassan Danial Aslam)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.