Symposia & Conferences
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Item Application of Sri Lanka accounting standards in small & medium sized enterprises(Department of Accountancy, University of Kelaniya, 2015) Nishanthi, W.P.L.Small and Medium Enterprises (SMEs) play an important role in both developed countries and developing countries. It contributes to the growth of the economy through employment generation, new venture development and by opening up new avenues for the growth in the economy. The Central Bank of Sri Lanka (1998) had stated that inadequate capital, inadequate institutional credit facilities, use of outdated technology, improper accounting techniques, inadequate sales promotion competencies and inattentiveness of small businesses are the main problems faced by the small businesses in Sri Lanka. Huck and McEwen (1991) argue that 12 competency areas such as starting a business, planning and budgeting, management, marketing/selling, advertising and sales promotion, merchandising and finance and accounting is needed for small business success. This study is done in relation to the factors leading to non-compliance with Standard accounting practices by the small and medium scale enterprises (SMEs) in Sri Lanka. The main objectives of the study focused on identifying the nature of the accounting practices and the factors leading to non-compliance with standard accounting practices by the SMEs. Efforts are made to examine the possible causes for noncompliance with the Standard accounting practices by the SMEs in Sri Lanka and the researcher expects that this study would fill the knowledge gap. The researcher uses structured interviews to collect data and selects 30 SMEs and 10 auditors for the study. Two interview guides will be prepared by the researcher for the SME owners, and for the Auditors. In the conceptual model the non-compliance is considered as the dependent variable and the independent variables are the cost of adherence to accounting standards, knowledge and competence of the owners, lack of qualified employees, relevance of standard guidelines and parties interested in the financial reports. The key finding is that, higher cost of adherence to accounting standards, lack of knowledge and competence of the owners, lack of qualified employees, and unavailability of parties interested in the financial reports other than owner is leading to non-compliance and the relevance of standard guidelines does not have a relationship with non-compliance. The non-compliance with Standard accounting practices is not only due to SMEs ‘can’t comply’ with them, but also due to not complying with them even when they are able to comply. The researcher finally makes recommendations to the policy makers, government and professional accounting bodies to design the policies and frameworks to ensure SMEs’ compliance with standard accounting practices.Item The Impact of Marketing Strategies and Behavior of Small and Medium Enterprises on their Business Growth(2010) Gajanayake, R.As per the scholars, the economic growth of developing countries can be sustained by the expansion of private sector, as they are the engine of growth. According to the previous studies it has been observed that the SMEs have become a crucial segment and a major section of private sector in developing countries consists of SMEs. As such, it is important to accelerate the growth of SMEs in order to gain sustainable development in the country. But, according to the past research studies there is a high failure rate of SMEs in Sri Lanka. According to the literature, there are several reasons affect for this high failure rate. Implementation of the correct strategies and the behavior of entrepreneurs are important factors to be considered for the growth of SMEs. As per the white paper 2002, the implementations of the correct marketing strategies are vital factor for the growth of SMEs. Therefore the problem centered in this research was to identify the impact of marketing strategies and behavior of SMEs on their business growth in Sri Lanka. This study was based on secondary and primary data. Primary data was collected through the method of sample survey and for this purpose a structured questionnaire was used as the research instrument. Data was gathered by the sample of 100 entrepreneurs in Gampaha district who were engaged in the manufacturing sector.Both descriptive statistics and inferential statistics such as correlation, and partial correlation were applied through SPSS to test the validity of formulated hypotheses. The findings revealed that there was no significant impact of marketing strategies on their business growth. Moreover, there was no impact of the behavior of the entrepreneurs and the business growth.