THE EFFECT OF CASH MANAGEMENT ON THE PERFORMANCE OF SMALL AND MEDIUM SIZE ENTERPRISES IN BUEA
Project Details
Department | ACCOUNTING |
Project ID | ACC328 |
Price | 5000XAF |
| International: $20 | |
No of pages | 60 |
Instruments/method | QUANTITATIVE |
Reference | YES |
Analytical tool | DESCRIPTIVE |
Format | MS Word & PDF |
Chapters | 1-5 |
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This study aimed at assessing the effect of cash management on the performance of small and
medium enterprises (SMEs) in Buea municipality, Cameroon. The study has as specific objectives to establish the effect of cash control on the performance of SMEs, to examine the effect of cash position on the performance of SMEs, to examine the effect of cash planning on the performance of SMEs and to assess the effect of credit management on the performance of SMEs. The survey method was used wherein 40 SMEs in Buea where surveyed. Although the number of SMEs surveyed was not large, the survey was distributed across all the SMEs in Buea to ensure representativeness. Data was obtained through a structured questionnaire designed for that purpose and the data was analyzed using descriptive and regression analysis with the help of Statistical Package for Social Sciences (SPSS). The hypothesis was tested through a correlation test, and it revealed that there is a strong positive relationship between the variables (r=0.859) whereby 73.7% of performance of SMEs could be attributed to cash management. Base on the specific objectives, the findings revealed that there exist a significant positive effect between cash control, cash position, cash planning, and credit management and the performance of SMEs in Buea municipality. The study recommended that there is dire need for the management as well as staff charged with managing cash to undergo training in managing performance metrics in order for operation-level decisions to be attached to the expected outcomes. The study also recommended that SME managers should invest their cash surpluses in ventures that yield high returns such as treasury bills or in overnight call accounts which yield high returns. This will help avoid keeping large cash balances in non-interest yielding current accounts. They should also make use of computerized accounting packages to help improve their efficiency in cash management.
KEYWORDS: Cash Management, Cash Control, Cash Position, Cash Planning, Credit management, Performance and Small and Medium Size Enterprises
