FACULATY OF EDUCATION N - University Of Nigeria Nsukka

ACCOUNTING SKILLS REQUIRED BY

ENTREPRENEURSHIP

Ebere Omeje

OLINYA, TIMOTHY ONWUMERE

PG/M.Ed/10/52963

ACCOUNTING SKILLS REQUIRED BY BUSINESS

EDUCATION GRADUATES FOR SUSTAINABLE

ENTREPRENEURSHIP IN ENUGU STATE, NIGERIA

FACULATY OF EDUCATION

DEPARTMENT OF VOCATIONAL TEACHER

EDUCATION

Ebere Omeje Digitally Signed by: Content manager’s

DN : CN = Webmaster’s name

O= University of Nigeri

OU = Innovation Centre

1

ONWUMERE

BUSINESS

FOR SUSTAINABLE

IN ENUGU STATE, NIGERIA

N

DEPARTMENT OF VOCATIONAL TEACHER

: Content manager’s Name

Webmaster’s name

O= University of Nigeria, Nsukka

OU = Innovation Centre

2

ACCOUNTING SKILLS REQUIRED BY BUSINESS EDUCATION

GRADUATES FOR SUSTAINABLE ENTREPRENEURSHIP


By


PG/M.Ed/10/52963

DEPARTMENT OF VOCATIONAL TEACHER EDUCATION

(BUSINESS EDUCATION)

UNIVERSITY OF NIGERIA, NSUKKA

SUPERVISOR: DR. E.A.C ETONYEAKU

JULY, 2015.

3

TITLE PAGE

ACCOUNTING SKILLS REQUIRED BY BUSINESS EDUCATION

GRADUATES FOR SUSTAINABLE ENTREPRENEURSHIP


By


PG/M.Ed/10/52963

A PROJECT REPORT SUBMITTED TO THE DEPARTMENT OF

VOCATIONAL TEACHER EDUCATION, UNIVERSITY OF

NIGERIA, NSUKKA, IN PARTIAL FULFILMENT OF

THE REQUIREMENTS FOR THE AWARD OF

MASTERS DEGREE IN BUSINESS

EDUCATION

JULY, 2015

4

APPROVAL PAGE

This project has been approved for the Department of Vocational

Teacher Education, University of Nigeria, Nsukka.

By

……………………………... …………………………

Dr. E.A.C Etonyeaku Prof. C.A. Igbo

Supervisor Head of Department

……………………………. ………………………..

External Examiner Internal Examiner

……………………………

Prof. Uju Umo

Dean of Education

5

CERTIFICATION

Olinya, Timothy Onwumere, a postgraduate student in the

Department of Vocational Teacher Education with Registration Number,

PG/M.Ed/10/52963, has satisfactorily completed the requirement for

the course and research work for the Degree of Masters in Business

Education.

The work embodied in this project is original and has not been

submitted in part or full for any other Diploma or Degree of this or any

other university.

………………………………. ……………………………

Olinya, T.O Dr. E.A.C Etonyeaku

Researcher Project Supervisor

6

DEDICATION

This work is dedicated to Almighty God and to my wife Sussan,

and children Lotachukwu, Chimeremma and Chimdalu.

7

ACKNOWLEDGEMENTS

All praise, Honour and Adoration be unto our great God, the

provider and sustainer of life. The researcher is most grateful to God to

have spared his life, as he was always on the road with his motorcycle

in cause of this programme. The researcher is grateful to his

supervisor, Dr. E.A.C. Etonyeaku for his precious and constructive

suggestions, criticism, tolerance and guidance in going through every

stage of the study.

Great thanks are due to all his lecturers in the Department of

Vocational Teacher Education for their support, encouragement,

valuable suggestions, corrections and advice in the making of this

project work. The researcher is thankfully acknowledging the special

contributions of Dr. C.I. Agbo and Mr. J.K. Ede (ACA) for assisting in

validating the research instrument. His thanks go to Prof. E.E.

Agomuo, Prof. C.A. Obi, Prof. E.C. Osinem and Prof. C.A. Igbo for their

wonderful instructions during his course work.

The researcher wants to thank most sincerely Dr. (Mrs) N. Ibezim

and Dr. E.O. Ugwoke his design and content readers respectively for

their constructive criticisms raised during his proposal defence. He is

very grateful to his dear wife Mrs. Sussan Ogechukwu and his children

Lotachukwu, Chimeremma and Chimdalu for their support, patience

and prayers towards his work and God’s journey mercies each time he

8

stepped out of his house to Nsukka. He thanks God for their patience

to bear his absence whenever he was out of home.

In the same vein, the researcher owes special gratitude to his

brother, Dr. and Mrs Felix Ebe, his Daddy, and friend Ven. and Mrs. T.

Ugwuishiwu who accommodated me and fed me throughout my stay

with them without demanding anything. The researcher extends his

sincere gratitude to his friends, Comrade and Mrs. Mathew Ede,

Comrade Livinus Ede, Mr. Augustine Iweya, Vivian and Mrs. Akpa

Chinenye who typed the manuscripts.

Finally, the researcher appreciate the special support of Enugu

State SMEs for her permission to use the necessary data which formed

the population of the study.

Olinya, T.O. University of Nigeria Nsukka

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TABLE OF CONTENTS

TITLE PAGE i

APPROVAL PAGE ii

CERTIFICATION PAGE iii

DEDICATION iv

ACKNOWLEDGEMENT v

TABLE OF CONTENT vii

LIST OF TABLES x

ABSTRACT xii

CHAPTER ONE: INTRODUCTION 1

Background of the Study 1

Statement of the Problem 9

Purpose of the Study 11

Significance of the Study 12

Research Questions 14

Hypotheses 15

Delimitation of the Study 16

CHAPTER TWO: REVIEW OF RELATED LITERATURE 17

Conceptual Framework 18

� Business Education 18 � Business Education Graduates 21 � Skills 22 � Accounting 24 � Accounting Skills 25 � Accounting Skills required by Business Education

Graduates 28 � Business Education Lecturers 43 � Entrepreneurship 44 � Sustainability of Entrepreneurship 48

Theoretical Framework 52

� Katz’s three Skill Approach Theory 52 � Entrepreneurial Skill Trait Theory 53 � Winterbothem Theory of Soft Skill 54

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Related Empirical Studies 55

Summary of Literature Reviewed 61

CHAPTER THREE: METHODOLOGY 67

Design of the Study 67

Area of the Study 66

Population for the Study 67

Sample and Sampling Technique 67

Instrument for Data Collection 69

Validation of the Instrument 70

Reliability of the Instrument 70

Method of Data Collection 71

Method of Data Analysis 71

CHAPTER FOUR: PRESENTATION AND ANALYSIS OF

DATA 73

Research Question 1 73





Testing of Hypotheses 85

Hypothesis 1 85

Hypothesis 2 86

Hypothesis 3 87

Hypothesis 4 88

Hypothesis 5 89

Finding of the Study 90

Discussion of the Findings 99

CHAPTER FIVE: SUMMARY, CONCLUSIONS AND

RECOMMENDATIONS 102

Re-statement of the Problem 102

Summary of Procedures Used 103

Summary of Findings 104

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Implications of the Study for Cost Accounting 113

Conclusions 114

Recommendations 115

Limitations of the Study 115

Suggestions for Further Studies 116

REFERENCES 117

APPENDICES

Appendix A: Letter to Respondents 127

Appendix B: Questionnaire 128

Appendix C: Sample Distribution Table 136

Appendix D: Some of the Business Areas Visited 137

Appendix E: Letter to Validates 138

Appendix F: Reliability of the Instrument 139

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LIST OF TABLES

Tables Pages

1. Mean and Standard Deviation of Lecturers and Business

Education graduates rating of Stocktaking Skills required

by Business Education Graduates for Sustainable

Entrepreneurship in Enugu State 74

2. Mean and Standard Deviation of Lecturers and Business Education graduates rating of Profit and Loss Account Skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State 77 3. Mean and Standard Deviation of Lecturers and Business Education graduates rating of Statement Reconciliation Skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State 79 4. Mean and Standard Deviation of Lecturers and Business

Education graduates rating of Balance Sheet Skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State 81

5. Mean and Standard Deviation of Lecturers and Business

Education graduates rating of Computer Skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State 83

6. t-test analysis comparing mean ratings of Business Education

Graduates and Business Education Lecturers on Stocktaking skills required by business Education Graduates for Sustainable Entrepreneurship in Enugu State 85


Graduates and Business Education Lecturers on Profit and Loss account skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State 86

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8. t-test analysis comparing mean ratings of Business Education Graduates and Business Education Lecturers on Bank Statement reconciliation skills required by Business Education Graduates for Sustainable Entrepreneurship Ventures in Enugu State 87


Graduates and Business Education Lecturers on Balance Sheet skills required by business Education Graduates for Sustainable Entrepreneurship in Enugu State 88


Graduates and Business Education Lecturers on Computer based Accounting skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State 89

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Abstract

The major purpose of the study was to determine the accounting skills required by Business Education graduates for sustainable entrepreneurship in Enugu State, Nigeria. Five research questions and five null hypotheses were formulated to guide the study. Descriptive survey design was adopted for the study. Four hundred and fifty four (454) business education lecturers and graduates in entrepreneurship businesses in Enugu state under Small and Medium Scale enterprises (SMEs) form the population of the study. While two hundred and forty six (246) business education lecturers and graduates in entrepreneurship businesses in Enugu state under Small and Medium Scale enterprises (SMEs) form the sample, made up of 224 graduates and 22 lecturers. A questionnaire on accounting skills required of business education graduates was used for the study. The reliability of the instrument was gotten using Cronbach Alpha formula with overall reliability index of 0.76 gotten. Mean and standard deviation was used to answer the research questions and t-test was used to test the null hypotheses. Findings revealed that the accounting skills required by business education graduates are in the area of stocktaking, profit and loss account, bank statement reconciliation, balance sheet and computer based accounting skills. Finally, it was recommended among others, that in-services training should be provided to graduates of business education so as to enable them acquire the skills for sustainable entrepreneurship venture to be achieved.

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CHAPTER ONE

INTRODUCTION

Background of the Study

Business education is a type of education that gives skills for

business rated occupations. Business education trains learners or

provides learners with information or competencies needed by all in the

management of personal business affairs. However, Business

Education according to the American Vocational Association in Osuala

(2004) is a programme of instruction which consists of two parts: the

first part is office education; a programme for office careers through

initial refresher and upgrading education, leading to employment and

advancement in office occupation. The second part is general business

education; a programme to provides students with information and

competencies which are needed by all in managing personal business

affairs and in using the services of the business world.

Business education is the sum total of human activities directed

towards providing and acquiring specialist knowledge, skills and

attitude that are required for successful promotion of business

enterprise (Osuala, 2004). Anao (2006) defined business education as

an educational process or content which has its primary aim as the

preparation of people for roles in business enterprise. Two major

specific objectives of business education are the preparation of learners

1

16

for vocational experience and development of skills, activities and

personal habits which forms the basis for further development of

employable skills (Nolan, Hayden and Masbary in MounyJoy, 2007). In

essence business education apart from equipping one with such

vocational skills as secretarial, marketing, administrative and

management skills for business success, also equips its graduates with

accounting skills, which enables the graduates succeed in

entrepreneurship.

Accounting is one of the major occupation areas of Business

Teacher Education that prepares students for job or employment within

a wide range of business careers. Accounting is generally viewed as

information system about the financial affairs and the operation of a

business. It is a statement of money held in trust, expressed in credit

and debits. Accounting may also be defined as a statement proffering

the use of assets and management of liabilities of a business venture,

expresses in a book-keeping form (Clarke, 2002). Accounting is

generally useful for effective management of business ventures through

the accurate recording, analyses and interpretation of business

transactions (Osuala, 2004). American Institute of Certified Public

Accountants (AICPA) in Anao (2002) defines accounting as an art of

reading, classifying and summarizing in a significant manner and in

terms of money, transactions and events of a financial character and

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interpreting the result thereof. According to Anao (2002), this definition

identifies the major activities found in accounting which include,

recording and summarizing of data, usually expressed in monetary

terms and the subsequent interpretation of the resultant accounting

information. This definition also emphasizes that accounting has to do

with only transactions and events which have financial implications. In

the context of this study, accounting is one of the areas of business

education that prepare graduates for a job or employment within a wide

range of business careers due to the inherent skills the beneficiaries

acquired.

Skill is the ability acquired through training, and it is

demonstrated by action. It is the ability to perform a particular tasks

expertly. According to Obi (2011), skill is the ability to use one’s

knowledge effectively and readily in performing an art or the habit of

doing a particular thing competently. Skill is an ability and capacity

acquired through deliberate, systematic and sustained effort to

smoothly carryout complex activities or job functions involving ideas

(Drucker, 2007). Skills is very imperative for good record-keeping and

in controlling the inventory of a business.

Accounting skill is the ability to creatively identify, analyse,

record, classify and interpret financial information and activities of an

enterprise in order to aid management take business decisions. Ezeani

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(2008), opines that accounting skill is a service activity and the

functions of which are identifying, measuring, recording and

communicating quantitative information, primarily financial in nature,

about economic entities. Obviously, no single research work will

capture all accounting skills. Hence, Odo (1990) enumerated some

accounting skills business education graduates should be conversant

with to include: stocktaking skills, profit and loss account skills, bank

statement reconciliation skills, balance sheet skills, postings to

journals, preparing ledger accounts and trial balance, simple

partnership accounts and so on. This study will concentrate on

stocktaking skills, profit and loss account skills, bank statement

reconciliation skills, balance sheet skills and computer based skills

required of business education graduates in entrepreneurship.

Stocktaking skills are those competencies required in ascertaining

the overall cost of all the goods in the store either bought or

manufactured for the purpose of resale or use. Stocktaking skills may

include; taking physical count of inventory to manage deterioration and

obsolesce. Calculating the value of closing stock of goods, cost of goods

sold and the gross profit or loss using correctly the stocktaking

methods of First-in-First-Out (FIFO), Last-in-First-Out (LIFO),Next-in-

First-Out (NIFO), and the averaging methods (Odo, 1990). Stock taking

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skills, in summary among other things aids the accountant or book

keeper to determine the profit or loss position of a business enterprise.

Another accounting skill that is important for successful business

operation and management is the profit and loss account skill. The

profit and loss account skill is the ability to compute the trading

expenses for the period, and its deduction from the gross profit or loss,

plus other revenue income, to determine the Net profit or loss. It is a

deliberate and systematic effort to smoothly carryout book-keeping

functions to aid the determination of the actual profit or loss of a

business (Agbo, 2007). Agbo further stated that profit and loss account

is prepared to determine the actual profit or loss of a business. The

balancing figure in profit and loss account is either net profit or net

loss. According to Igboke (2008), in the preparation of profit and loss

account, a trading account is first prepared to obtain the gross profit or

loss which is brought down and all the administrative, office, selling

and distribution expenditure charged (debited) against it. Igboke further

opined that an accounting officer should be able to credit all revenue

income to add to the gross profit or charged against the gross loss and

able to debit expenses. The net profit or net loss is usually transferred

to the balance sheet usually referred to as the statement of affairs of a

business.

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The possession of balance sheet skills by a business education

graduate would also help him to establish and manage his business or

as a employee of business. Balance sheet skills are the abilities the

book-keeper exhibit in summarizing the statement of the net worth of a

business venture at a particular date. A balance sheet is not accepted

until it is systematically arranged in an order or the balance sheet order

of permanency. Agbo further listed some balance sheet skills to

include; ability to arrange assets and liabilities in their order of

permanency and recording of long term liabilities, current liabilities,

fixed assets and current assets to clearly show the net worth of the

business. One important transaction in the balance sheet is the cash

and the bank balance, the amount of money which the business will

depend on for its routine business activities in the next business year.

In order to check fraud or ensure an error free cash and bank balance,

it is important that the balancing values of cash and bank are

reconciled with the bank statement (Agbo, 2007). A statement the

book-keeper prepares for this function is referred to as the bank

statement reconciliation.

Bank statement reconciliation skills are such skills required of an

accounting officer to identify record or records that caused the

differences between the bank balance in the cash book and the bank

balance as per the bank’s statement of account. The ability to identify

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and correct such discrepancies can only be possible if one has bank

reconciliation statement skills. According to Wood and Omuya (2003),

a bank statement reconciliation may be defined as a statement

presented to correct at a certain date, the discrepancies or imbalances

between the bank statement balance and the customer’s cash book

balance of the bank column. In order to facilitate an error free

reconciliation accounting statements and procedures in this era of

information and communication technology (ICT), computer skills are of

utmost important.

Business education graduates should be able to apply computer

skills to generate accounting information for effective and successful

business operations. Computer skills, according to Stewart (2000), is

the ability to use computer to carry out a function. This function entails

using computer in processing accounting data. Computers are used in

almost every field of business as it speeds up data processing

tremendously. Computer is an electronic device that work under the

control of stored programme, automatically accepting, storing and

processing data to produce information/result (Osuala, 2007). The

application of computer today in all facets of life due to its efficiency,

consistency, accuracy and speed has made computer literacy a major

prerequisite for employment especially in the field of business

education. Thus, a business education graduate ought to acquired

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computer skills to able to prepare, interpret, analyze and summarise

accounting statement for modern business organization and

management of entrepreneurship.

Entrepreneurship is concerned with the identification of gaps and

business opportunities in one’s immediate environment and bringing

together the necessary resources in an innovative way to fill these gaps,

bearing the risks involved and in the process gaining personal rewards

(Emmanuel, 2013). Entrepreneurship is the willingness and ability of

an individual to seek out investment opportunities and the collating of

the necessary resources to establish and run an enterprise

successfully. Agomuo (2002), defined entrepreneurship as a process of

bringing together creative and innovative ideas, and combining them

with management and organization skills in order to manage people,

money and resources to meet an identified need and thereby create

wealth. Oduma (2009), on his study on Employers Expectations for

gainful employment recommended that the possession of accounting

skills is imperative for gainful employment of business education

graduates either as self or as a paid employer in entrepreneurship for

sustainability.

Sustainability in entrepreneurship takes a slightly different

perspective from the traditional focus of entrepreneurship by

emphasizing additional focus of promoting sustainable living and

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environmental improvement. Sustainable entrepreneurship can be

defined as the continuing commitment of business to behave in an

ethical way and contribute towards economic development while

improving the quality of life of the workforce, their families and the local

and global community, as well as future generation (World Business

Council for Sustainable Development, 2000). Brundland Commission

(2007) also defined sustainability development as the process in which

the exploitation of natural resources, the allocation of investments, and

the process of technological development and organizational change are

in harmony with each other for both current and future generations. In

the context of this study, sustainability is the persistence growth and

development in the assets of entrepreneurship.

Statement of the Problem

Every entrepreneurship business in form of micro, small, medium

and large scale production need some sort of financial information for

effective business operations. Accounting information is required by

managers or owners of enterprise for effective business decision

making. However, graduates of business education in Nigeria and

Enugu State in particular employed in entrepreneurship at various

position, seem to be lacking in some knowledge and skills required for

keeping accounting records of entrepreneurship.

24

Ogalanya (2010) conducted a research to ascertain the extent to

which employers are satisfied with the accounting job skills exhibited

by business education graduates. The result showed that as a result of

low job skills exhibited, especially in accounting areas, some employers

subject their new employees to several weeks of in-plant retraining

session (on-the-job-training) to beef up their job-skills, and hence

improve their performance as business education graduates. Business

education programmes prepare graduates for a job or employment

within a wide range of business careers due to the inherent skills the

beneficiaries acquire.

However, lack of accounting employability skills among the

graduates may have contributed to a large extent, why business

education graduates due not venture into entrepreneurship business

after graduation. While those employed in entrepreneurship perform

below expectation as was observed by Ogalanya’s study (2000). In fact

some of the small and medium scale industries visited by the

researcher in Enugu State on his pilot survey, preferred employing

OND, HND and B.Sc graduates in accountancy to business education

graduates whom they fill lack some basic skills in keeping financial

records of enterprise. This may be responsible why business education

graduates are considered last in appointment of accounting officers in

entrepreneurship.

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In fact, business education graduates because of the specialist

accounting skills the course offers, were suppose to be the best

entrepreneurs who should employ others rather than being in the

labour market seeking for job. Based on the foregoing, there is the

need to determine the areas of lack in accounting skills required by

business education graduates for sustainable entrepreneurship in

Enugu State.

Purpose of the Study

The major purpose of the study was to determine the accounting

skills required by business education graduates for sustainable

entrepreneurship in Enugu State. Specifically, the study will determine:

1. The stocktaking skills required by business education graduates

for sustainable entrepreneurship in Enugu State, Nigeria.

2. The profit and loss account skills required by business education

graduates for sustainable entrepreneurship in Enugu State,

Nigeria.

3. The bank statement reconciliation skills required by business

education graduates for sustainable entrepreneurship in Enugu

State, Nigeria.

4. The balance sheet skills required by business education


Nigeria.

26

5. The computer based accounting skills required by business


State, Nigeria.

Significance of the Study

The findings of this study would be of immense benefit to

business education graduates, business education lecturers, managers

of entrepreneurship and future researchers.

The findings of this study would be beneficial to business

education graduates in the following ways: Graduates of business

education will benefit from this study as it will expose them to the areas

of lack in the skills required for proper keeping of books of account in

their work place. Many of the graduates who still lack in the knowledge

of using computer in keeping accounting records will come to

appreciate ICT skills as an indispensible skill in the job market. This

study will also spur business education graduates for retraining in ICT

skills especially those who graduated before the introduction of ICT

programmes in the business education curriculum. Moreso, business

education graduates at various levels of higher learning will equally

benefit from the outcomes of this study as it will afford them

opportunity of having broader understanding in areas of lack in

stocktaking, profit and loss account, bank statement reconciliation,

balance sheet and computer based accounting skills required for

27

sustainable entrepreneurship and success in the world of work. These

skills if properly acquired will spur business education graduates to be

more creative in order to be self-employed or secure employment in any

paid entrepreneurship establishment.

The findings of this study would be beneficial to business

education lecturers in the following ways; the outcome of the study will

expose areas of lack in accounting skill needs of business education

graduates. These areas of lack in accounting skills will enable lecturers

launch out procedures or methodologies to better address these

accounting skill needs to undergraduates and postgraduates students

for better performance in entrepreneurship.

Studies have identified lack of accounting skills required for

success in entrepreneurship ventures as one of the factors causing the

winding-up of firms during the first few years of its establishment.

Therefore, managers of entrepreneurship ventures will benefit through

this study in the sense that the outcome of the study will expose the

areas of lack in the skills required for proper stocktaking, preparation

of profit and loss account and the balance sheet of the

entrepreneurship prepared by business education graduates. Secondly,

the managers will be exposed to the areas of lack in the computer

based skill needs of the graduates especially in using computer in

preparation of pay roll, and in keeping accounting books of the

28

entrepreneurship. These may call for retraining of these employed

graduates for optimal performance. Thirdly, through the outcome of

this study managers who are still keeping accounting on books may

come to appreciate the importance of keeping their accounting records

on softwares.

Finally, the study would also make a significant contribution to

the existing body of literature in the discipline, researchers and

textbook writers.

Research Questions

The following research questions were formulated to guide the

study:

1. What are the stocktaking skills required by business education


Nigeria?

2. What are the profit and loss account skills required by business


State, Nigeria?

3. What are the bank statement reconciliation skills required by


Enugu State, Nigeria?

29

4. What are the balance sheet skills required by business education


Nigeria?

5. What are the computer based accounting skills required by

business education graduates for sustainable entrepreneurship

ventures in Enugu State, Nigeria?

Hypotheses

The study tested the following null hypotheses at 0.05 level of

significance:

H01: There is no significant difference in the mean responses of

business education graduates and business education lecturers

in stocktaking skills required by business education graduates for

sustainable entrepreneurship in Enugu State.

H02: There is no significant difference between the mean ratings of


on profit and loss account skills required by business education

graduates for sustainable entrepreneurship in Enugu State.

H03: There is no significant difference between the mean rating of


on bank statement reconciliation skills required by business


State.

30



on balance sheet skills required by business educating graduates

for sustainable entrepreneurship in Enugu State.



on computer based accounting skills required by business


State.

Delimitation of the Study

This study was delimited to the determination of accounting skills

required by business education graduates for sustainable

entrepreneurship ventures in Enugu State. No attempt will be made to

include other business education graduates in other states of the

federation. The study would specifically determine the stocktaking,

bank statement reconciliation, profit and loss account, balance sheet

and computer based accounting skills required by business education

graduates for sustainable entrepreneurship ventures in Enugu State,

Nigeria.

The study elicited the opinions of business education graduates

and business education lecturers to answer the research questions and

achieve the objectives of the study.

31

CHAPTER TWO

REVIEW OF RELATED LITERATURE

This chapter reviewed the literature related to this study. The

literature was reviewed under the following sub-headings:

Conceptual Framework

� Business Education

� Business Education Graduates

� Skills

� Accounting

� Accounting Skills

� Accounting Skills required by Business Education Graduates

� Business Education Lecturers

� Entrepreneurship

� Sustainability of Entrepreneurship

Theoretical Framework

� Katz’s three skill approach theory

� Entrepreneurial skill trait theory

� Winterbothem theory of soft skill.

Related Empirical Studies

Summary of Literature Reviewed

17

32

Conceptual Framework

Business Education

Business education is a program of instruction which consists of

two parts: (1) office education, a vocational education program for office

careers through initial refresher, and upgrading education, and (2)

general business education, a program to provide students with

information and competencies which are needed by all in managing

personal business affairs and in using the services of the business.

Business education is one of the major areas offered in Vocational

Teacher Education. According to a survey conducted at the University

of Nigeria in 1979, about 86 percent of young Nigerians enter the labor

market without a bachelor’s degree. The situation emphasizes the need

for business education.

Business education represents a broad discipline that is included

in all types of educational delivery system, elementary and secondary

schools, colleges and universities. Business education is the sum total

of knowledge, skills and attitude that are required for successful

promotion and administering of business enterprises

(http://www.kent.ac.uk/ces.retrieved on 7/04/2014). The program is

designed to develop special competencies in marketing, office and

accounting business skills and techniques. One of the specific

objectives of business education is the preparation of learners for

33

vocational experiences and developing skills, activities and personal

habits which form basis for the further development of employable

competencies (Nolan, Hayden and Masbary in Mountjoy, 2007). The

product of business education program should fit into offices in private

business and government organizations. Business education is

therefore strategic to development. The big question arises as to

whether graduates of business education program possess the required

employability skills more especially accounting skills.

Anao (2006) defined business education as an educational

process or content which has its primary aim as the preparation of

people for roles in business enterprise. Similarly, Adeyemi (1988) and

Nanassy (1997) see business education as that branch of vocational

teacher education which equips the learner with knowledge, skill and

attitude which will enable them to function efficiently in the production

and consumption of goods and services. The above definitions and

views reveal that business education is a comprehensive academic

discipline that produces skilled, self-reliant, responsible and productive

citizens (Amahua, 2009).

Objectives of Business Education

Historically, business education has played an important role in

manpower development.

Osuala (2004) listed the objectives of business education as follows:

34

� To educate individuals for and about business;

� To provide a continuous programme of planned learning

experiences designed to equip individuals to fulfill effectively three

roles;

� To produce and distribute goods and service as workers;

� To use the results of production as consumer;

� To make judicious socio-economic decisions as citizens.

� To provide career information that helps student relate their

interest, needs and abilities to occupational opportunity in

business.

The policy commission for business education (2005) outline the

objectives of business educations as follows;

� To educate the individual for and about business

� To provide a continuous programme of learning experience to

equip individuals to fulfill effectively the roles of production and

distribution of goods and service.

� To provide education opportunities for student preparing for

career in field other than business knowledge and skill need to

function effectively in those career.

Business education centers on education for and about business

or training in business skills and competencies required for use in

business offices, clerical occupations and business policy analysis.

35

Osuala (2007) stated that business education is part of the field of

education which deals with business experiences both for specialized

occupational uses and for general uses. Similarly, Ulinfun and Nwokolo

(2008) observed that it is proper to identify very clearly the mission of

business education so as to provide the necessary information needed

to assess where we were, where we are going and how far we have gone,

In their view, business education is aimed at turning out the right

caliber of work force and people with business entrepreneurial ability

for positions in various sectors of the economy.

Business Education Graduates

A business education graduate is one who has been exposed to

certain fundamental principles and theories of teaching and learning in

business courses. A business education graduate should have the

knowledge, skill and attitudes that are required for success in business

management. Business education is therefore strategic to human

resource development. The big question arise as to whether graduates

of business education programmes posses the required accounting

skills. A business education graduate requires accounting skills to

enable him undertake, organize and manage his business venture

successfully (Nwokolo, 2007). In the context of this study, a business

education graduate is a professional who is skillful and constantly

aware of the state of the art in the business education programme.

36

Buttressing this assertion, Osuala (2004) described business education

graduate as a person knowledgeable in the six (6) components that

make up a business education programme. In the word of the author,

the six components in the curriculum of business education consists of

the following: general education, general business subjects, secretarial,

marketing and distributive subjects, professional educational, and

accounting as well as teaching practice and industrial work experience.

The author added further that business education graduate is a person

who has taken series of courses in business education curriculum

which enables such graduate enter the world of work and earn a

livelihood.

Skill

Skill is ability acquired through training, and it is demonstrated

by action. According to Obi (2005), skill is the ability to use one’s

knowledge effectively and readily in performing an act, or a habit of

doing a particular thing competently. Education and training create

circumstances in which a person can acquire and apply the skill that

will help a person to achieve the objective of a business venture.

According to Kathryn (2005), skill refers to the knowledge and ability

that enables one to do the work. Skill is knowledge acquired through

training and it is demonstrated by actions. This definition is in

consonance with that of Perks and Smith (2006) which stated that skill

37

is the ability acquired through formal or informal training as well as

through practice. Skill is an ability and capacity acquired through

deliberate systematic and sustained effort adaptively to carry out

complex activities or job functions involving ideas (Drucker, 2007).

Skill, according to Hullbert (2008), is manual dexterity through the

performance of an operation. Skill can be referred to as acquired

attitudes and behaviour after an exposure to the theories and practices

inherent in a field of study. Anne-Boyele (2009), observed that the

possession of the required skills by the entrepreneur will make him fit

to work in an establishment and more especially, have the opportunity

of becoming an executive in future time, if he is able to acquire and

utilize the needed skills. It is therefore compelling to monitor from time

to time, skills that employers of labour want and prefer for maximum

productivity (Arukwe, 2009).

Every profession has a minimum skill needs or requirements

which must be satisfied through schooling for any members to enter

into the world of work. Entrepreneurship ventures need the accounting

skills required for performance. Accounting provides the knowledge and

skills which entrepreneurs require to enable them take important

economic decisions. Skill, therefore, is imperative for good record-

keeping and inventory control. The operators of small and medium

scale businesses should posses accounting skills needed to propel the

38

business to higher level of performance (Nnachi, 2009). Similarly, Obi

(2011) stated that managers of entrepreneurship ventures should

possess skills in marketing, accounting, personnel management and

accounting for sustainability.

Accounting

Accounting is the art of recording business transactions in a way

to ascertain the true financial position of the business at any point in

time. Major activities found in accounting include; recording and

summarizing of data, usually expressed in monetary terms and

subsequent interpretation of the resultant accounting information. This

implies that accounting has to do with only transactions and events,

which have financial implications. Okwo (2001) described accounting

as mainly consisting of financial accounting, cost accounting and

management accounting. Financial accounting, according to the

author, entails the recording, classifying and summarizing of the

financial data of an organization according to established concepts,

principles, accounting standards and legal requirements. Management

accounting is concerned with the application of accounting knowledge

to assist management in its functions of promoting maximum efficiency

in operations. It also assists management in formulating and

coordinating future plans. Cost accounting involves analyzing and

recording of financial transactions with respect to materials, labour and

39

over heads to show cost of a given product or service rendered (Adeyeye,

2000). Accounting is, therefore, regarded as the language of business.

To say that accounting is the language of business means that it is the

mode in which business information is identified, processed,

transmitted and received by the relevant parties in business.

Accounting is one of the major occupation areas of business education

that prepares students for jobs or employment within a wide range of

business career. According to Clarke (1971), accounting is generally

viewed as information system about the financial affairs and the

operations of a business. It is a logical thinking process made up of a

precise method of recording, classifying and summarizing financial data

for interpretation and decision- making. In support of Clarke, Odo

(1990) stated that accounting occupies an important position in any

business because it records the financial happenings from which the

general public is informed of the general performance of the business.

Accounting Skills

People with accounting aptitude are typically detail-oriented and

are good in analysis and logical thinking. Accounting skills are not just

about mathematics, accounting skills are also logic and analysis. The

ability to organize and synthesize information is also important, since a

lot of accounting is about classifications and reporting. According to

Odo (1990), accounting skills involve the recording of transactions in a

40

regular or systematic way to show the financial position of the

business. Accounting skills required by a business education graduates

are numerous. Obviously, no single research work will capture all

accounting skills. Hence, Odo (1990) enumerated eleven accounting

skills that a student of accounting is required to be conversant with.

The skills are:

� Ability to extract information from source documents like invoice,

debit and credit notes, vouchers, requisitions notes etc.

� Postings to journals

� Preparing ledger accounts and trail balance

� Preparing financial statements (income statements and balance

sheet)

� Interpretation of financial statement

� Use of financial statement

� Various methods of valuing stock

� Bank statement reconciliation

� Various methods of providing for depreciation

� Simple partnership accounts

� Preparation of various cash books, imprest and analytical cash

book.

Umunna (1992) defined accounting skills as the ability to identify,

measure and communicate financial information to permit informed

41

judgments and decision of the users of the information. The author

added that the role of accounting in the operation of business

enterprise entails recording, classifying and summarizing the enterprise

monetary transactions and interpreting the results for both the internal

and external users of the information. In agreement with Umunna,

Agbobu (2003) also defined accounting skills as the ability to measure,

record and communicate competently all data relating to the economic

activities of an organization to interested parties for analysis and

interpretation. Agbobu pointed out that accounting had its root on the

need to keep the records of business transactions and that the major

reasons for keeping accounts are the trader’s need to know how much

he owes, how much he owns, profit he has made and what his financial

position is at a given time. According to Umunna, accounting education

is an area of study which is needed to equip the youths with knowledge,

skills and attitudes necessary for efficient financial calculations

required for occupational competencies and economic self-reliance.

Agbobu further stated that accounting education has a broad and

comprehensive curriculum that provides every student with the

assistance to acquire the basic and essential knowledge, skills, feelings,

ideas, attitudes and understanding necessary to assume the roles of a

worthy human being and as an effective and intelligent member of the

society. Furthermore, Agbobu submitted that accounting education

42

leads to the development of better skills and attitudes to work because

the individual knows he is contributing to the growth of the society.

Accounting education is designed to develop skill encompassing

knowledge and information needed by the workers to enter and make

progress in employment on a useful and productive basis.

Regarding the personal uses of accounting to business education

graduates, Umunna submitted that accounting helps:

• To develop in the graduate the ability and desire to keep records

of personal use;

• To develop in the graduate the ability to interpret and analyze

business papers and records.

• To develop in a student an understanding of some of the problems

and characteristics of a business enterprise;

• To train graduates with the knowledge of keeping records

necessary to carry on a small business; and

• To train graduates to become book-keepers or accountants in the

business houses or in their self-established business.

Accounting Skills required by Business Education Graduates

Every job has specific skills needed to perform it. In his study on

wage earning skills required by entry level business graduates, Canon

(2007) suggested revision of programmes to train students with skills

for current and projected jobs and follow-up measures to monitor the

43

outcomes of training and the employment of programme completers. A

business education graduate requires accounting skills, ability and

capacity to enable him undertake, organize and manage his business

venture successfully. The thrust of this study therefore is to determine

the stocktaking, profit and loss, bank statement reconciliation, and

balance sheet and computer skills required by business education


Nigeria.

Stocktaking Skills

Stock means the goods and services that business hold. Stock

could be defined as the amount of goods or materials waiting in a store

or a factory at any given time (Bessong, 2005). Stocktaking therefore

means ascertaining the overall costs of all the goods in the store either

bought or manufactured for the purpose of resale at profit. The life

span of every business venture depends largely and solely on its stock.

Stocktaking skills are the skills business education graduates should

possess to enable them take physical count of inventory to manage

detoriation and obsolescence. Stocktaking skills enable an accountant

to calculate the value of closing stock of goods, cost of good sold and

the gross profits. The First-in-First-Out (FIFO) and Last-in-First-Out

(LIFO) are some of the stocktaking methods used in taking inventories

of business.

44

Stocktaking skills involve accurate physical verification of the

quantities and condition of items held, as a basis for accurate inventory

audit valuation and management. Other stocktaking techniques,

according to Bessong (2005), include:

� Taking physical count of inventory to manage deterioration and

obsolescence.

� Calculating the minimum stock level to avoid stock out

� Periodic stocktaking to determine the quality of items in the store.

� Keeping buffer stock to avoid the loss of customers.

� Record the issuance and usage of inventory

� Set inventory prices as low as possible to attract customers.

Profit and Loss Account Skills

The profit and loss statement is a summary of the financial

performance of the business over time (monthly, quarterly or annually).

It reflects the past performance of the business and is the report most

often used by business owners to track how their business is

performing (Meredith, 2006). Although there are a variety of reasons

why any business is formed, one of the most important reasons and

objectives of all business is to earn a profit so that it can sustain the

owner. In businesses, success is frequently measured in terms of

profits earned in relation to funds invested (Meredith, 2006). This

implies that entrepreneur that continuously incur losses have little

45

chance of survival in the long run. It is important for an entrepreneur

to have the necessary accounting skills to determine if the business is

achieving a profit or a loss, and the impact that the business variables

may have on the profitability of the entity. For example, if an owner has

undertaken a business expansion, he should be able to understand the

impact that such an expansion has on the profitability of the entity.

The business sector can gain an insight into the measurement and

analysis of profitability by preparing an income statement on a monthly

basis. An income statement provides information relating to the

financial performance or profitability of the entity and it includes all

incomes and expenses (Sowden-service, 2007). The income statement

usually comprises the following sections, which when combined reflect

the profit of the business.

Trading account, which provides the measurement of the gross

profit by deducting the cost of goods sold from the revenue earned; a

summary of expenses that have been incurred in the production of the

revenue. These may include administration, establishment, financial

costs and other business activities and the final section deals with

other or non-trading income that may have been received by the

business, such as income on the sale of an asset or investment income

(Taylor, 2003). As the name indicates the profit and loss statement (also

known as a statement of financial performance or an income statement)

46

measures the profit or loss of a business over a specified period.

According Agbo (2007), a profit and loss statement summarizes the

income for a period and subtracts the expenses incurred for the same

period to calculate the profit or loss for the business. Profit and loss

statements are very useful in helping the stakeholders to objectively

determine the financial performance of business.

The appearance of the income statement of a manufacturer,

retailer or a service business will differ to some extent (Baker and

Hayes, 2008). However, the basic concept of its use to determine and

measure the profitability will remain the same for all entities. The

income that is earned by the business is always relevant to a specific

time frame and it is important that the income statement relates to a

specific period. For example, many listed companies prepare an income

statement on a quarterly basis for their shareholders. It is

recommended that entrepreneurs prepare an income statement on a

monthly basis so that it can be used as an effective tool to monitor and

solve business problems in a timely manner. Although the income

statement is a useful tool in managing the business, Agbo (2007)

opined that it does have some limitations and therefore cannot be used

as the sole accounting mechanism to control a business venture.

Longe (2009) identified some reasons for preparing the profit and

loss statement. Longe stated that producing regular profit and loss

47

statement (at least quarterly or monthly) will enable a business owner

to;

� Know how much money he is making, if any;

� Compare projected performance with actual performance;

� Compare performance against industry benchmarks,

� Use past performance trends to form reasonable forecasts for the

future;

� Show business growth and financial health over time;

� Detect any problems regarding, sales, margins and expense

within a reasonable time so that adjustments may be made to

recoup losses or decrease expenses;

� Provide proof of income in case of obtaining loan or mortgage.

� Calculate income and expense when completing and submitting

tax return.

In the preparation of profit and loss account, the business

graduate should have skills in determining revenue, cost of goods sold,

gross profit, expenses and finally net profit or loss. Revenue (sales) is

the total earning from ordinary business operations. Revenue includes

return on sales of goods and services, interest received, dividends,

rebates and rent received.

Cost of goods sold (cost of sales) is the cost of merchandise sold

during the period. Cost of goods sold includes all the cost directly

48

related to getting your inventory ready for sale such as, the purchase

price, import duties, non-recoverable taxes, freight inwards, freight

insurance, handling, direct labour, and other cost of converting

materials into finished goods. Cost of goods is calculated as follows:

open inventory (cost of inventory at the beginning of the period) plus

inventory purchased (during the period) equals total inventory available

during the period less closing inventory (cost of all unsold stock) equal

cost of goods sold. Gross profit: gross profit, according to Agbo (2010),

is the difference between sales and the cost of producing or purchasing

products or providing service before subtracting operating expenses

such as wage, rent, accounting fees, or electricity. Gross profit reflects

how efficiently labour and material are used to produce goods. Gross

profit = sales- cost of goods sold. The gross profit margin is one

indicator of the financial health of a business. Larger gross profit

margins are better for business. Expenses: expenses (overheads,

outgoings) are costs incurred for the purpose of earning income. They

include items such as wages, rent, accounting and legal fees, electricity,

depreciation and interest paid on loans. Net profit: net profit (net

income; net earning; or the bottom line) is calculated by subtracting

expenses from the gross profit, showing what the business has earned

(or lost) in a given period of time (usually monthly, quarterly or

annually) after both the cost of goods sold and operating expenses have

49

been taken into account. Net profit = gross profit- expenses. While net

loss occurs when expenses is greater than gross profit.

Bank Statement Reconciliation Skills

Bank statement reconciliation skills means finding out what or

which record or records that cause the differences in the two balances

(bank statement and the cash book bank column balances) which were

supposed to be the same, and the correcting of such, to maintain the

same balance at a date? According to wood (2002), a bank statement

reconciliation may be defined as a statement presented to correct

certain data, the discrepancy or imbalance between the bank statement

balance and the customer’s cash book. The ability to closely examine

and select items that cause the discrepancies like unpresented

cheques, bank interest received, standing order, balance transfers,

dishonored cheques and direct debits are some of the skills that are

required for bank statement reconciliation by business education

graduates.

Certain items of record in the bank statement, either in terms of

payment (s) or withdrawal(s), to or from the bank account of the current

account holder may not be in her fore-knowledge. Creditors cashing

their cheques, debtors paying-in some of its debt. Balance, charges

made on the account, dividend or interest being credited to the

account, etc., are all additions and subtractions in the account of the

50

customer without any prior notice to her, on the due data such will be

made (Agbo,2007). Ability to recomputed the balance as is represented

in the cash book to ensure that the balance represented is correct is a

special skill in bank statement reconciliation. A debit balance,

according to Agbo (2007) stands as the cash balance the customer was

supposed to have in the credit of his bank statement balance while a

credit balance presupposed an overdraft, which stands as a debit

balance in the bank statement of the customer.

Balance Sheet Skills

The balance sheet, is a statement of what a business owns

(assets) and what it owes (liabilities) to other people. NERDC (1999)

remarked that after the preparation of the trading, the profit and loss

accounts at the end of the year, the balance sheets is finally prepared

to show the state of affairs of the business at a given date. The NERDC

(2001) further stated that a balance sheet is often required by private

investors, the public and government to assess the financial position of

a business at a particular date. Banks also requests for balance sheet

of business as a pre-condition for granting loans. In addition, the

company and Allied Matters Act 1990 as amended require all

businesses to prepare the profit and loss account and balance sheet for

various reasons including tax assessment.

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The purpose of a balance sheet is to represent a true and fair view

of the financial position of the business at a given date. It is prepared

from the balances of the accounts that remain open in the books after

the preparation of the trading and loss accounts (Martin, 2001). The

balance sheet is not a ledger account. It is simply a statement in a

particular form and way which can best be defined as a classified list of

the debit and credit balances remaining in the books after the

preparation of the trading, profit and loss accounts.

According to wood and songster (2002), the balance sheet is not

independent of the income statement, that is, profit and loss account,

for it reflects that statement up to the point at which the books are

closed. It shows more than operations since it represents in monetary

terms the items that can be used to expand or limit future operations of

the business. The balance sheet shows the financial position of an

enterprise at a specific point in time showing its assets and liabilities. It

consists of two parts: the assets, which are the resources owned by the

business; and the liabilities which are the claims against these

resources (that is, what the business owes). In the opinion of Osuala

(2004), assets are resources owned or controlled by the firm while the

liabilities are debts of the firm and consist of obligations to pay or to

render service either now or in future. Owner’s equity represents the

52

interest of the owner(s) in the firm’s assets and is measured as the

excess of total assets over total liabilities.

According to Ede (2005) balance sheet is simply a classified

statement which intends to show clearly and concisely the financial

position of the business as at the date to which the accounts are

prepared. This means that balance sheet does not relate to the period

but sets out the book values of the assets, liabilities and capital ‘as at ‘a

particular date. For the balance sheet to present a true and fair view of

the financial position, it is essential that its components should be

examined with the greatest care to ensure that each appears at its

appropriate value. Much will depend upon the work done to ensure that

all outstanding debts and all declines in value of assets have been

provided for.

Glautier and Underdown (2005) emphasized that the provision for

deprecation must be made because normal wear and tear in the use of

fixed assets must cause some loss of value. To ignore such would give a

false value for the assets in the balance sheet. Glautier and Underdown

also observed that the balance sheet shows as a rule, expected residue

after allowing for depreciation on the original cost of the assets;

ignoring any change that may have taken place in the purchasing

power of money since the assets was bought or to the amount of money

the asset now cost in the market. Therefore a balance sheet is a

53

document that provides a factual financial description of the value of

business. It is a statement that lists the monetary measures of the

resources used (assets) in the enterprise and the sources of funds

(owner’s equity or liabilities) used to finance those resources. Whilst the

income statement is prepared by showing the cumulative revenue and

expenses for a period, the balance sheet is prepared at a particular

point in time to represent a snapshot of the financial position of the

business (Meredith, 2006).

A typical balance sheet consists of three main elements:

i. Assets: Assets comprised of items that are owned by the business,

with a monetary value, that are usually employed to earn a

return. Examples of assets include fixed assets such as property,

plant and equipment and current assets such as stock debtors

and cash. All assets are recorded at cost and their monetary value

does not change to reflect any change in its market value.

ii. Liabilities: Liabilities are debts of a business certain liabilities in a

business are short term, usually payable within a year, in nature

such as payment for stock, salaries and other business

expenditure. Other liabilities are long term and include

mortgages, bonds and leases for equipment, payable in medium

to long term.

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iii. Owner’s Equity: The owners equity in a business is the total

assets less the total liabilities and represents what the business is

worth. The owner’s equity generally emanates from an investment

into the business by the owner and from the profit/losses of the

business. A negative owners equity implies that the liabilities

exceed the assets and that the business is insolvent, (Mountjoy,

2009). Whilst the income statement is important in determining

the profit or loss that is incurred, the balance sheet illustrates the

level of solvency of the business, how the business is financed

and the ability of the entity to convert assets into cash.

Computer based Accounting Skills

The application of computer today in all facets of life due to its

efficiency, consistency, accuracy and speed, has made computer

literacy a major prerequisite to employment. This is moreso in the field

of accounting (Osuala, 2004). A computer is a machine that can be

programmed to accept data (input), process it into useful information

(output) and store it away in a secondary storage device for safekeeping

or later reuse. Osuala (2004) stated that any business manager who

fails to educate himself in the practical application of the computer in a

variety of business situation, risks becoming obsolete and endangers

the existence of his business. The ability to use computers has become

a job requirement in many sectors of Nigeria labor market and those

55

who are competing for the jobs should know be conversant with

technological changes.

In accounting, computers are used to maintain such information

as bills receivable, payable and in tracking records of customers whose

accounts are overdue for settlement. Agbo (2007) stated that

computerizing a business general ledger, payroll, journals and other

accounting records and tasks, increase office and business efficiency.

With a computer, one can request and receive an in house balance

sheet, an income statement, or other accounting reports at a moment’s

notice. Computers are used in almost every field of business as it

speeds up data processing tremendously. Despite its speed and record

keeping purpose, Osuala (2007) maintained that computer still carry

out other essential business function as, monitoring of account

receivable, accounts payable , payroll, the keeping and updating of the

general ledger and so fort. Accountants in banks use powerful

computer system to handle a wide range of banking tasks like: the

processing of cheques, customers deposits and withdrawals, keeping

track of customers accounts, and the transfer of funds/money

transfers, the use of computer in inter-bank and intra-bank operations.

In fact the use of computer in accounting have had an overwhelming

influence in the field of accounting in particular and in overall

management of business and other organization (Agbo,2007). Electronic

56

spreadsheet is one of the accounting packages used by accountants to

perform accounting and other financial activities like preparation of

ledgers, journals, balancing of accounts etc. it is equally used in

banking sectors as it allows one to do anything that would normally be

done with a calculator, pencil, and columnar scratch pad. Examples of

spreadsheet are lotus 1,2 and 3; Microsoft excel etc. According to

Wood and Sangster (2009), an accounting information system (AIS) is

the total suite of components that, together, comprise all the input,

storage, transaction processing, and reporting of financial transactions

data. Spreadsheets are used for general accounting, like in the

computation and presentation of cash balances, statement of affairs

balance, trail balance, the profit and loss account balance, and other

accounting balances (Neddles, 2009). Totaling the bottom line must be

the number one priority for any business. A small scale business can

have simple spreadsheet software to work up a ledger and balance

sheet and generate basic invoice and payroll worksheet. Ability to use

computer in stocktaking, profit and loss account, bank statement

reconciliation and balance sheet preparation by a business education

graduates are the computer skills that are imperative for the survival of

an entrepreneurship.

57

Business Education Lecturer

Business education lecturers are the most important factor in

teaching and imparting accounting skills to business education

graduates. They play strong roles in the impartation of accounting

knowledge and skill on the students. An accounting lecturer in

business education is a key factor in the transmission of worthwhile

knowledge to young generation in every society. Ndu (1996) explained

that business education teachers were seen in early days of education

as demigods who had all answer to every question in guidance,

instruction and learning. Similarly, Oguegbune and Okwuenu (1996),

explained that a good teacher should be friendly, understanding,

responsible, business like, systematic, stimulating and imaginative. The

authors added that the teacher must be innovative so as to cope with

the elements of the changing society and must be mentally alert to cope

with the rigours of teaching.

Teaching is the impartation of knowledge and skills to the learner.

According to Osuala (2002), business education teacher should be able

to teach skills inherent in business subjects which accounting is a part.

Aliyu (2002) added that, the business education teacher has

responsibilities as other teachers to help the students develop to their

maximum capacity. For effective teaching of accounting, the business

education teacher has to make use of good methods and approaches in

58

teaching the subject. Teachers have the main duties of imparting

knowledge and skill to youths in the society, which helps them to

become useful in a just and egalitarian society (FGN, 2004). For the

accounting teacher to be effective in his duty, he needs to attain some

qualifications with that, the teacher should be given his rightful place

in the society. Aliyu (2002) observed that there is no other profession

which has the opportunity to influence the youth and the future of any

country than the teaching profession. Therefore, it is necessary to

ensure that business education teachers are well trained. They need

such training because they indirectly influence the quality and quantity

of service provided by all other trades and profession. An accounting

teacher needs to have up to date knowledge in this era of information

technology. An accounting teacher should be well prepared, informed

and should posses the knowledge, skill and attributes desired of all

business educated persons, the technical competencies required on one

or more areas of business education, a knowledge of the principles and

methods of teaching, and some practical experiences in one of the

business occupations.

Entrepreneurship

Entrepreneurship plays an important role in the economic growth

and development of nations. Most economists today agree that

entrepreneurship is a necessary ingredient for stimulating economic

59

growth and employment opportunities in all society. In developing

countries, small businesses are the engines of job creation, income

growth and poverty reduction (Okpukpara, 2004). It is a purposeful

activity that includes an initiation, promotion and distribution of wealth

and service.

The recognition of entrepreneurs dates back to the eighteenth

century when the French economists Richard Cantillon associated the

‘risk bearing ‘ activity in the economy with the entrepreneur. The word

entrepreneur is derived from the French entreprendre, meaning to

undertake. The entrepreneur is one who undertakes to organize,

manage and assume the risks of a business. The 18th-century

economist Richard Cantillon used the word entrepreneur to mean an

employer in the character of one who assumes the risk and

management of business, and undertaker of economic enterprises.

Entrepreneur is also used to identify some individuals who stimulated

economic progress by finding new and better ways of doing things

(Osuala, 2005).

In the 20th century, the economist most closely associated with

the term was Joseph Schumpeter. He described entrepreneurs as the

innovators. In his words, “the functions of entrepreneurs is to reform or

revolutionize the pattern of production.” The developments of

entrepreneurship will optimize the use of the unexploited resources,

60

generate self-employment and a self-sufficient economy. Business

expert Drucker (1909-2005) took this idea further, describing the

entrepreneur as someone who actually searches for change, responds

to it, and exploits change as an opportunity. A quick look at changes in

communications from typewriters to personal computers to the

internet-illustrates these ideas. Entrepreneurship is for people who got

the right level of interest that could make them pursue their dreams,

improve their life, and create a business. Entrepreneurship can also be

viewed as incorporating innovation and growth. Entrepreneurship has

been found to extend beyond small business (Ezedum, 2011).

The entrepreneur is commonly seen as an innovator, a generator

of new ideas and business process. According to Schumpeter, an

entrepreneur is willing and able to convert a new idea or invention into

a successful innovation. An entrepreneur is someone who

commercializes his or her innovation (Ronald May, 2012). An

entrepreneur is a person with a high need for achievement. He is

energetic and a moderate risk taker. Peter Drucker (2010) stated that

an entrepreneur searches for change, responds to it and exploits

opportunities. Innovation he says is a specific tool of an entrepreneur

hence an effective entrepreneur converts a source into a resource.

Cantillon (2012) similarly defined entrepreneur as a person who pays a

certain price for a product and resells it at an uncertain price: making

61

decisions about obtaining and using the resources while consequently

admitting the risk of enterprise”. An entrepreneur is an economic agent

who unites all means of production land of one, the labour of another,

and the capital of yet another and thus produces a product. By selling

the product in the market he pays rent of land, wages to labour,

interest on capital and what remains pin his profit. He shifts economic

resources out of an area of lower and into an area of higher productivity

and greater yield. Furthermore, entrepreneurship is a process of

identifying and starting a business venture, sourcing and organizing

the required resources and taking both the risks and rewards

associated with the venture.

An entrepreneur is defined as an individual who organizes or

operates a business or businesses. The credit for coining the term

entrepreneur generally goes to the French economist Jean-Baptise Say,

but in fact the Irish-French economist Richard Contillon defined it first

in his Essai Sur la Nature du commerce en general, or Essay on the

nature of Trade in General in the 18th-Century. A book William Stanley

Jevous considered the “Cradle of political economy”. Say and Contillon

used the term “entrepreneur” differently. However, Contillon

biographer, Anthony Breer notes that Contillon saw the entrepreneur

as a risk taker while Say considered the entrepreneur as a planner.

Contillon defined the term as a person who pays a certain price for a

62

product and resells it at an uncertain price: making decisions about

obtaining and using the resources while consequently admitting the

risk of enterprise.

Sustainability of Entrepreneurship

The word sustainability is derived from the Latin word “sustinere

(tenere, to hold; sus, up). To sustain can mean “maintain “supper; or

endure”. Business education plays an important role in the

sustainability of entrepreneurship ventures. Business education helps

in imparting accounting, secretarial, marketing and management skills

in individuals. Entrepreneurship typically focuses on identifying new

opportunities for creating value for customers or users and

commercially developing those opportunities to establish a profitable

business (Share and Venkataraman, 1986). Sustainability in

entrepreneurship takes a slightly different perspective from the

traditional focus of entrepreneurship by emphasizing additional focus

of promoting sustainable living and environmental improvement.

Sustainable development has been defined as development that meets

the needs of the present without compromising the ability of future

generations to meet their own needs (Brundland commission 1987).

An emphasis on sustainability within entrepreneur involves

searching for opportunities for new products or services or new

technologies or production process that alleviate social or

63

environmental conditions, make more efficient use of energy and

natural resources, and harness new resources that are more abundant,

cheaper to produce, and less harmful to society. Brundland

commission (1987) defined sustainable development as the process in

which the exploitation of natural resources, the allocation of

investments, and the process of technological development and

organizational change are in harmony with each other for both current

and future generations. Sustainable entrepreneurship can be defined

as the continuing commitment of business to behave in an ethical way

and contribute towards economic development while improving the

quality of life of the workforce, their families and the local and global

community, as well as future generation (World Business Council for

Sustainable development, 2000).

From a sustainable enterprising perspective, entrepreneurs have

a responsibility to their investor and shareholder but also to nature,

society, and future generations. Sustainable entrepreneurship can be

regarded as involving the three ps: people, planet and profit (Crals and

Vereek, 2007). The first aspect, people, refer to an enterprise’s

treatment of its workforce, the protection of human rights, guarding

against child labour and imposing self-restraint in desisting from

following unethical labour practices. It might include creating jobs,

which is a laudable goal but cannot be undertaken without

64

simultaneously considering its impact on the third P. which is profit.

The second aspects refer to the company on natural resources and the

environment. Thus sustainable entrepreneurship may be regarded as a

process that creates enterprises that can be contributory and

restorative in their interactions with human and ecological systems”

(Tilley, 2007). The third aspect profit, is the essence of a business

enterprise. When broadly defined, profit relate not just to the financial

return of the enterprise, but to the allocation of the financial returns

between investment in machines, infrastructure, and the distribution of

the gains between those involved in the entrepreneurial process

(source:http://www.Business.Uvicical/green/course/bcom/).

Sustainability improves the quality of human life. It implies responsible

and proactive decision making and innovation that minimizes negative

impacts.

65

Accounting Skills

Schema of the Conceptual Framework

The schema presented above shows that stocktaking skills, profit

and loss skills, balance sheet skills, bank statement reconciliation

skills and computer based accounting skills are some of the accounting

skills required by business education graduates. The schematic

diagram shows that the acquisition of the skills by the graduates will

lead them to sustainable entrepreneurship in Enugu State.

Business education graduates

Stocktaking

skills

Profit loss

account

skills

Balance

sheet

skills

Bank statement

reconciliation

skills

Computer

based

accounting

skills

Business Education Graduates

Suitability of entrepreneurship ventures in Enugu State

Source: Researcher (2014)

66

Theoretical Framework

The theoretical framework upon which this study is hinged are

on the following:

Katz’s three Skill Approach Theory

The three- skill approach theory was propounded by Katz of the

Harvard Business School in 1955. This theory postulates that learned

knowledge and acquired skill/abilities are significant factors in the

practice of effective leadership. The theory emphases on skills and

abilities that can be learned and developed. The theory believed that a

Leader’s effectiveness depends on his ability to solve complex

organizational problems. The theory recognizes three basic

administrative skills as technical, human and conceptual. Katz’s

argued that skills are what leaders can accomplish. Leadership skills

are defined as the ability to use one’s knowledge and competencies to

accomplish a set of goals or objectives. The theory also emphasized that

leadership skills can be acquired through training and that technical

skill is the knowledge about and proficiency in a specific type of work or

activity. It includes competencies in a specialized area, analytical ability

and the ability to use tools and techniques. The theory is relevant to

this study because in an accounting firm, technical skill might include

understanding and having the ability to apply generally accepted

accounting principles to a client’s business audit. Accounting skills can

67

be learned and developed for good leadership in entrepreneurship

ventures. The theory is also related to the present study, in the sense

that, accounting skills are part of the leadership competencies, and the

technical, human and conceptual skills the theory recognizes and

teach.

Entrepreneurial Skill Trait Theory

Research on complex skills really began with the work of Bryan

and Harter (1977). Observation of Plateaus Led Bryan and Harter

(1977) to propose that skill learning involved the acquisition of a

hierarchy of habits. The theory emphasizes on skill acquisition through

training. In a statement that has no doubt influenced some of today’s

theories of skill acquisition. Bryan and Harter theory of 1977 believes

that hierarchical view of skilled behaviour is fundamental to many

modern theories of skills acquisition. The theory emphasizes that

increasing the precision of feedback increase the accuracy of motor

performance. Secondly, the theory also emphasizes that if knowledge of

results are provided during training and then subsequently removed,

performance deteriorates. The theory believed that one of the methods

researchers have used to track improvement on a skill has been to plot

performance on the job as a function of amount of training or practice.

The theory is relevant to this study because accounting skills required

by business education graduates are part of the entrepreneurial skills

68

the theory recognizes and teaches. The theory is also related to the

present study in the sense that accounting skills and other

entrepreneurial skills are functions of amount of training and practice

as emphasized by the theory.

Winterbothem Theory of Soft Skill

The theory of soft skill was propounded by Winterbothem on

August 1, 2001. Winterbothem was an American writer of western and

science fiction. The theory emphasizes that serious employers are less

demanding of academic excellence and technical skills, and consider

them trainable if candidates are able to demonstrate positive attribute

and soft skills. Winterbothem (2001) affirmed that serious employers

are less demanding of academic excellence and technical skills, and

consider them trainable if candidates are able to demonstrate positive

attributes and soft skills. The theoretical framework of Winterbothem

also observed that employers are demanding the demonstration of

positive attributes and ability to use soft skills. The theory considers

the use of modern technology as essential for graduate to gain a

foothold in the labour market. The advocate of this theory was of the

opinion that ICT skills are dominant engine for productivity

improvement and business opportunities, and a key factor for

generating future employment. The theory had support of international

employer barometer (IEB) who maintains that skills employers value

69

most among graduates are ‘soft’ and ‘hard’ skills measures satisfaction

ratings on how far graduates demonstrate these capabilities. The theory

of soft skill is related to this study in the sense that, computer skills

required by business education graduates for entrepreneurship

ventures sustainability, are similar to soft and hard skills acquired

through modern technology like computer which Winterbothem

advocated as essential for graduates to gain, foothold in the labour

market. The present study is also related to Winterbothem advocacy of

ICT skills as dominant engine for productivity improvement and

business opportunities.

Related Empirical Studies

This section reviewed empirical studies related to the study. Few

empirical studies have been conducted in the area of the present study.

David (2001) conducted a survey on accounting skills required by

entry-level managers in Business organizations in Kogi State. The

population for the study comprised 215 entry-level managers of

Business organizations in Kogi State. The sample for this study was

150 entry level managers in business organizations in Kogi State

representing 70 percent of the total population. A self developed

questionnaire was used as the major instrument for data collection.

The results of the data collected were analyzed using frequency and

mean to answer research question one, two three and four. T. test

70

statistic was used to analyze the first hypothesis, while chi-square was

used for second and third hypotheses. All the hypotheses were tested at

0.05 level of significance. The findings of the study revealed that,

extracting a trial balance has been identified as part of the accounting

skills required by entry-level managers. Provision for depreciation was

also identified as accounting skills required by entry-level managers in

business organizations in Kogi State. The findings also revealed that

reducing liabilities is viewed as one of the most financial accounting

skills required by entry level managers for business organizations in

Kogi State. The present study is related to David’s study in that: both

of them are on accounting skills; both have close range of population;

both use purposive sampling techniques; both use descriptive survey

through self developed questionnaire items as instrument for data

collection. However, the previous study was on accounting skills

required by entry-level mangers in business organizations in Kogi State,

while the present study is on accounting skills required by business

education graduates for sustainable entrepreneurship ventures in

Enugu State.

Another study was conducted by Oduma (2009) on Employers

expectations for gainful employment. The study was on the employers

expectation of the general work competencies needed by business

education graduates for gainful employment in organizations.

71

Descriptive survey design was adopted for this study. The respondents

consisted of employers of labour (Chief Executive Officer) responsible

for employment which were drawn randomly from government and

private establishments in Ebonyi State, Nigeria. Two hundred and

eighty (208) Chief Executives were used in this study to serve as the

sample for the study. The instrument for data collection was a

structured questionnaire developed by the researcher. The weighted

mean and standard deviation were used for answering the research

questions. The study revealed among others that employers of labour

desired business education graduates to possess ICT skills and

leadership competencies as a pre-requisite for gainful employment in

establishment and organizations. The researcher recommended, among

others that business education programmes in tertiary institutions

should be restructured to enable the recipient acquire general work

competencies desired by employers of labour. The present study is

related to Oduma’s study in that accounting skills are part of the

general competencies required by Business education graduates; the

present study adopted structured questionnaire items as instrument

for data collection; the present study adopted weighted mean and

standard deviation to answer research questions as was used in the

previous study. However, Oduma’s study differed from the present

study in that the present study focused on accounting skills required

72

by Business education graduates for sustainability of entrepreneurship

ventures in Enugu State, while Oduma’s work was on general

competencies employers expected from Business education graduates

for gainful employment in Ebonyi State, Nigeria.

Angyu (2010) carried out a study on skills needed by secondary

school business education teachers for effective teaching and factors

hindering their acquisition in Taraba State. The major purpose of the

study was to identify skills that must be acquired by Business

Education Graduates. The population for the study was 85 Business

Education Lecturers in tertiary institutions in Taraba State. There was

no sample for the study. A self developed questionnaire was used as

the major instrument for data collection. The results of the data

collected were analyzed using frequency and mean to answer research

questions. T-test statistic was used to analyze all the four hypotheses.

All the hypotheses were tested at 0.05 level of significance. The

findings of the study revealed that there were lacks of professionally

qualified business education teachers in the tertiary institutions in

Taraba State. The study also revealed that the business teachers lack

skills needed for proper teaching of business courses. The researcher

recommended an in-service training programme for business education

lecturers who are not business educators by training. He further

recommended appropriate teaching qualification and skills required by

73

business education lecturers before employed as business education

lecturers. The researcher recommended and stressed on the need for

the use of instructional materials during teaching. ANGYU’S study was

similar to the present work in that both are on skills required by

business education graduates. Accounting skills are part of those skills.

However, Angyu’s work differed significantly because the present study

was specifically on accounting skills required by business education


while Angyu’s work was on skills needed by business education

Lecturers for effective teaching of those skills to business education

students before graduation in Taraba State, Nigeria.

In a similar vein, Oliver and Okoye (2013) conducted a study on

Employability Skills required by Business Education Graduates for the

Global Workplace as perceived by employers in Enugu metropolis. The

study determined the employability skills needed by business education

graduates to run a successful career and be sure of life –long

employment in the present global workplace. Specifically, the following

research questions were answered by the study. What are the

communication and presentation skills required by business education

graduates for the global work place. What are the time management

and problem solving skills required by business education graduates

for the global workplace. What are the leadership and team building

74

skills required by business education graduates for the global work

place. The research was a descriptive survey. The area of the study was

Enugu metropolis comprising Enugu North, Enugu South and Enugu

East where Emene, the city’s prime industrial layout is located. The

population of the study was 107 comprising 34 human resource

managers of randomly selected business, 27 lecturers of business

education in tertiary institutions and 46 unemployed graduates of

business education. Purposive sampling techniques was used for

sampling of graduates and managers. A 41-item researcher constructed

questionnaire was used for data collection in accordance with the

research questions. The study was conducted to determine the

employability skills required by business education graduates for the

global workplace. Fifteen items of communication and presentation

skills were considered as required. The standard deviation showed no

significant difference in the opinions of respondents. As a further proof

of the respondent’s agreement on the skills required for global

workplace, the ANOVA result indicated no significant differences in the

mean responses of the groups of respondents on the communication

and presentation skills. The present study is related to Oliver and

Okoye’s study in that; accounting skills required by business education

graduates are part of employability skills for global workplace; both

study used lecturers of business education in tertiary institutions as

75

pay of their samples for data collection; both used structured

questionnaire for data collection; both used mean and standard

deviation to answer research questions. However, Oliver and Okoye’s

study differs significantly because, the present study is specifically on

accounting skills for entrepreneurship ventures sustainability, while

Over and Okoye’s work was on general employability skills for global

workplace.

Summary of Literature Review

Many literatures related to the present study titled accounting

skills required of business education graduates for sustainable

entrepreneurship in Enugu State were reviewed. Three theoretical

framework upon which the present study is hinged were also reviewed.

They are: Katz’s three skill approach theory, entrepreneurial skill trait

theory, and winterbothem theory of soft skills.

The authors agreed that the central purposes of accounting is

to make possible the periodic matching of costs (efforts) and revenues

(accomplishment). The authors further agreed that accounting uses the

process of identifying, measuring and communicating economic

information to permit informed judgment or decision by users of the

information. Accounting as agreed by the author is an act of recording

transactions in a way to ascertain the true financial position of the

business at any point in time.

76

The authors further agreed that skill is the ability that enables

one to do work which is acquired through training and education,

demonstration by actions and applied into the business that will help

him or her achieve the objectives of business. The authors further

advised that if accounting skills are adequately possessed by business

education graduates, they can work effectively in various

entrepreneurship business or even be able to establish

entrepreneurship of their own after graduation.

Similarly, the authors concurred that stocktaking skills should

be possessed by business education graduates to enable them manage

deterioration and obsolescence. The authors agreed that stocktaking

skills involve accurate physical verification of the quantities and

condition of items held in the store, as a basis for accurate inventory

audit and valuation. Profit and loss account skills as agreed by the

authors are the summary of the financial performance of the business

overtime (monthly, quarterly or annually). The ability to recomputed the

balance as is presented in the cash book to ensure that the balance

represented is correct is a special skill in bank statement reconciliation.

The authors agreed that a balance sheet shows the financial position of

an enterprise at a specific point in time showing its assets and

liabilities. There is also a consensus by the authors that the ability to

use computer in stocktaking, profit and loss account, bank statement

77

reconciliation and balance sheet preparation by business education

graduates is a necessity in this era of information and communication

technology.

Furthermore, authors of the literature reviewed agreed that

business education is an educational process or content, which has its

primary aim as the preparation of people for roles in business

enterprise. The authors see business education as that branch or unit

of vocational technical education which equip the learner with

knowledge, skills and attitudes which enable them function efficiently

in the production and consumption of goods and services. The authors

added that teachers of business education courses must be innovative

so as to cope with the changing society and must be mentally alert to

cope with rigors of teaching. The authors agreed that an entrepreneur

is an economic agent who unites all means of production, land of one,

the labour of another and the capital of yet other and thus produces a

product.

Furthermore, many studies relating to the present study were

revealed. Most of the studies were on accounting skills required by

entry-level managers in business organization in Kogi State. Another

was on employers expectation for gainful employment in Ebonyi State,

Nigeria and employability skills required by business education

78

graduates for the global workplace as perceived by employers in Enugu

metropolis.

However, none of the studies reviewed or any other known to the

researcher was on accounting skills required by business education

graduates for sustainable entrepreneurship in Enugu State, which is

the focus of this study.

79

CHAPTER THREE

METHODOLOGY

This chapter presents the procedure used for this study under

the following sub-headings: design of the study; area of the study,

population for the study; sample and sampling technique; instrument

for data collection; validation of the instrument, reliability of the

instrument; method of data collection, and method of data analysis.

Design of the Study

This study adopted descriptive survey design. Descriptive survey

design was considered appropriate as it aimed at obtaining information

concerning the current status of phenomena using a questionnaire

(Osuala, 2001). Descriptive survey design is regarded suitable for

research that was aimed at describing the characteristics of a

population of people or situation, with respect to specific variables.

Nworgu (2009) affirms that what determines perspective of design that

is appropriate is dependent on the purpose or objective of the

investigation. The researcher therefore adopted a descriptive survey

design, in this study, in the sense that a survey of business education

graduates in entrepreneurship in Enugu State under small and

medium scale enterprises (SMEs) and lecturers in business education

in the four public tertiary institutions that offer business education in

Enugu State enabled the researcher ascertain the respondents opinion

67

80

on accounting skills required by business education graduates for

sustainable entrepreneurship ventures in Enugu State.

Area of the Study

The area of the study was Enugu State. Enugu State was

chosen for the study because a reasonable number of registered

entrepreneurship businesses under small and medium scale

enterprises are located therein. Eneh (2005) stated that

entrepreneurship businesses have been found to extend beyond small

scale business to medium scale enterprises. The study was carried out

in Enugu metropolis especially at Emene, the city’s prime industrial

layout and Nsukka where small and medium scale enterprises (SMEs)

are predominant.

The choice of these areas was that operators of

entrepreneurship, human resource managers, internal auditors,

purchasing managers, accountants, bookkeepers, store keepers and

other financial officers who are business education graduates are found

in these work places. The study was carried out in all the four public

tertiary institutions that offer business education in Enugu State. The

institutions included University of Nigeria, Nsukka (UNN), Enugu State

Science and Technology (ESUT), Enugu State College of Education

(Technical) and Federal College of Education Eha-Amufu (FCEE), where

81

lecturers of business education who are business education graduates

that impart these accounting skills through instructions are found.

Population for the Study

The population for this study was 454 respondents made up of

432 business education graduates in entrepreneurship business in

Enugu State under Small and Medium Scale Enterprises (SMEs) and

22 accounting lecturers in the four public tertiary institutions that

offer accounting courses in Business Education Departments in Enugu

State. Survey report on number of micro, small and medium

enterprises (MSMES) in Nigeria conducted in collaboration between

Small and Medium Enterprises Development Agency of Nigeria

(SMEDAN) and National Bureau of Statistics (2010) showed that there

were 432 small and medium enterprises (SMEs)in Enugu State (See

Appendix D). The choice of this population was that reasonable

number of business education graduates as authentic respondents

were found in the Small and Medium Scale Enterprises (SMEs) in

Enugu State as entrepreneurs.

Sample and Sampling Technique

The sample for this study consisted of 246 Business Education

graduates made up of 224 graduates in small and medium scale

enterprises (SMEs) in Enugu State, and 22 accounting lecturers who

82

were Business Education graduates teaching in Business Education

units in the four Public Tertiary Institutions in Enugu State.

Purposive sampling technique was used to select the 246

respondents in small and medium scale enterprises (SMEs) in Enugu

State as shown in the population in Appendix D and in selection of the

lecturers. In purposive sampling, specific elements which satisfy some

predetermined criteria are selected. Nworgu (2006) emphasized that in

purposive or judgmental sampling, the criteria to be used are usually a

matter of the researcher’s judgement, who exercises this judgement in

relation to what he thinks will constitute a representative sample with

respect to the research purpose which is only assumed. The researcher

therefore, assumed that this sample size contains reasonable elements

in which business education graduates can be located, since Business

Education graduates are not found in all the population. The small

and medium scale enterprises (SMEs) to be selected are those that are

owned by Business Education graduates or Business Education

graduates are employed as human resource managers, internal

auditors, purchasing managers, accountants or accounting officers,

store keepers, and computer operators. The sample distribution is as

shown in Appendix C, while the names and addresses of some

registered small and medium scale enterprises (SMEs) in Enugu is as

attached in Appendix D.

83

Instrument for Data Collection

A structured questionnaire, titled accounting skills required by


Enugu State, Nigeria (ASBEGSE) was used for data collection. The

instrument was developed by the researcher based on review of

literature. The questionnaire was divided into 6 sections, section A-F.

Section A dealt with general information about the respondents. This

section contained items with options to enable the respondents check

(√) or fill as appropriate. Section B attempted to elicit answers for

research question one with twelve (12) items. Section C was also

attempted to elicit answers for research question two with twelve (12)

items. Section D was expected to answer research question three (3)

with twelve (12) items. Section E was also attempted to elicit answers

for research question four (4) with twelve (12) items. While section F

was expected to answer research question five (5) with twelve (12)

items. The questionnaire items were assigned values to the five-point

Likert Scale with the following response categories and ratings: Very

Highly Required (VHR), Highly Required (HR), Required (R), Somewhat

Required (SR), and Not Required (NR), with corresponding values of

5,4,3,2 and 1 respectively.

84

Validation of the Instrument

The instrument for the study was subjected to face validation by

three experts: one from the Internal Audit Unit of the University of

Nigeria, Nsukka, one from Business Education Unit, University of

Nigeria, Nsukka. While one from Business Education Department,

Federal College of Education, Eha-Amufu. The validates were provided

with the title of the study, specific purposes of the study, the research

questions and hypothesis to be tested. The validates were requested to

access the items of the instrument in terms of relevance, clarity,

appropriateness in addressing the purpose of the study. The comments

and suggestions of these experts were used to refine the instrument

and produce the final copy of the instrument.

Reliability of the Instrument

The reliability of the instrument was established using Cronbach

Alpha reliability test to ascertain the internal consistency of the

instrument. The analysis was computer-based with the aid of SPSS

16.0 version. A pilot study of 20 business education graduates

employed or owners of the entrepreneurship in Anambra State which

was outside the study area was used.

Cluster one (items 1-12) gave an index of 0.61, cluster two (items

1-12) gave an index of 0.72, cluster three (items 1-12) gave an index of

0.80, cluster four (items 1-12) gave an index of 0.81, cluster five (items

85

1-12) gave an index of 0.89 while the overall clusters yielded a

reliability index of 0.76. This result indicates that instrument is

consistent in measuring the data.

Method of Data Collection

246 copies of the questionnaire were personally administered to

the 246 respondents by the researcher with the help of four trained

research assistants. The four research assistants were briefed on how

to approach the respondents for easy acceptance and return of the

questionnaire. They were equally enlightened on the contents of the

questionnaire and the purposes of the study to enable them explain to

the respondents when the need arises. The researcher administered

questionnaires in the small and medium scale enterprises in Enugu

East and South Senatorial Zones in which some of the business names,

product line of businesses and addresses to be covered are shown in

Appendix E as recorded by Small and Medium Enterprise Directory,

organize by Enugu SME centre. Two research assistants covered the

four public tertiary institutions. While the other two covered small and

medium scale enterprises in Enugu North senatorial zone.

Method of Data Analysis

The data collected was analyzed using descriptive statistic of

mean (x) and standard deviation (SD). The criteria for acceptance were

the average of mean of 3.00 and above. While rejection were any rating

86

below 3.00. That is, any item with 3.00 and above were required, while

any item below 3.00 was required. Standard deviation (SD) was used to

measure the dispersion or variability of the respondents’ responses

from the mean. T-test was used to test the formulated null hypotheses

at 0.05 level of significance, t-test was suitable for small sample sizes

and when there are two groups to be compared. Accepting or rejecting

H0 depends on whether the calculated value of the test statistics was

greater than or less than the critical value at 0.05 level of significance.

Therefore, if the calculated value is greater than the critical value, H0

were rejected, but if the calculated value is less than the critical value,

H0 were accepted.

87

CHAPTER FOUR

RESULTS

This chapter discusses the results of the study. The results are

presented in tabular form in line with the research questions and

hypotheses that guided the study.

Research Question 1: What are the stocktaking skills required by


ventures in Enugu State, Nigeria?

Data relevant to this research question were presented in Table 1.

73

88

Table 1: Mean and Standard Deviation of Lecturers and Business Education Graduates rating of Stocktaking skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State

S/N Items Lecturers (N=22)

Graduates (N=224)

X SD R X SD R

1 Ability to calculate value of stock using different stock valuation methods 4.23 0.61

A

3.90 1.26

A

2 Ability to calculate the cost of goods sold using the first-in-first-out (FIFO) method

4.09 0.81

A 4.02 0.53

A

3 Ability to determine the gross profit applying the accounting principles of prudence in selecting stock valuation method

4.18 0.73

A

3.66 0.69

A

4 Ability to compute the value of closing stock using last-in-first-out (LIFO) method

3.95 0.89

A 3.91 0.61

A

5 Ability to calculate the cost of goods sold using different methods of stock valuation

4.27 0.94

A 3.60 0.63

A

6 Competencies in using the appropriate stock valuation method in valuing stock issues

3.86 0.89

A 3.63 0.57

A

7 Ability to determine the stock method to adopt at any given point in time 4.05 0.79

A 3.67 0.69

A

8 Ability to identify which price method to adopt in valuing different stocks bought at different times from the store.

3.73 0.77

A

3.63 0.68

A

9 Ability to determine unit cost of stock using various methods 4.05 0.89

A 3.89 0.78

A

10 Ability to set equitable stock level e.g minimum, maximum or re-order stock level

4.23 0.87

A 3.77 0.75

A

11 Ability to carry stock taking effectively to check for fraud, pilfering and stock loss.

4.27 0.83

A 3.79 0.61

A

12 Ability to observe the accounting principles of prudence to avoid overstatement of profit.

3.91 1.15

A 3.63 0.73

A

NB: R= Remark; SD= Standard Deviation; A= Agreed

89

Table 1 above showed that both business education lecturers and

graduates agreed in all the items of the instrument on the stocktaking


entrepreneurship ventures in Enugu State, Nigeria. This is because

their mean responses were above 3.5 mean benchmark set for this

study. This means that ability to calculate value of stock using

different stock valuation methods; ability to calculate the cost of goods

sold using the first-in-first-out (FIFO) method; ability to determine the

gross profit applying the accounting principles of prudence in selecting

stock valuation method; ability to compute the value of closing stock

using last-in-first-out (LIFO) method; competencies in using the

appropriate stock valuation method in valuing stock issues; ability to

calculate the cost of goods sold using different methods of stock

valuation; ability to determine the stock method to adopt at any given

point in time; ability to identify which price method to adopt in valuing

different stocks bought at different times from the store; ability to

determine unit cost of stock using various methods; ability to set

equitable stock level e.g minimum, maximum or re-order stock level;

ability to carry stock taking effectively to check for fraud, pilfering and

stock loss; and ability to observe the accounting principles of prudence

to avoid overstatement of profit are the stocktaking skills required of

90


ventures.

Research Question 2: What are the profit and loss account skills


entrepreneurship ventures in Enugu State?


91

Table 2: Mean and Standard Deviation of Lecturers and Business Education Graduates rating of Profit and Loss Account skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State

S/N Items lecturers (N=22) Graduates (N=224)

X SD R X SD R

1 Ability to calculate the gross or loss of a business 4.41 0.67

A

3.77 0.70 A

2 Ability to calculate the net profit or net loss of a business

4.32 0.65 A

4.01 0.62 A

3 Ability to identify the expenses of the business 4.14 0.83

A

3.81 0.75 A

4 Ability to determine all revenue income.

4.27 0.77 A

3.71 0.60 A

5 Ability to graduate the overhead expenses into office, selling and distribution.

4.00 1.02 A 3.64 0.81

A

6 Ability to differentiate between trading and overhead expenses

3.82 0.85 A

3.75 0.58 A

7 Ability to apply closing stock and opening stock expenses 4.05 0.84

A 3.85 0.72

A

8 Ability to observe the rules/principles of accrual or matching concept.

4.18 0.73 A 3.81 0.75

A

9 Ability to observe that carriage inwards in part of the product cost

4.05 0.84 A

3.76 0.70 A

10 Competency in observing full accounting rules for withdrawals of both cash and goods

3.73 0.77 A 3.59 0.63

A

11 Ability to observe provisions for both depreciation and bad debt.

4.05 0.79 A

3.72 0.71 A

12 Ability to post correctly discount received and discount allowed or given.

3.64 0.79 A 3.97 0.70

A


Table 2 above revealed that both business education lecturers

and graduates agreed in all the items of the instrument on the profit

and loss account skills required of business education graduates for

92

sustainable entrepreneurship ventures in Enugu State, Nigeria. This is

because their mean responses were above 3.5 mean benchmark set for

this study. This implies that ability to calculate the gross or loss of a

business; ability to calculate the net profit or net loss of a business;

ability to identify the expenses of the business; ability to determine all

revenue income; ability to graduate the overhead expenses into office,

selling and distribution; ability to differentiate between trading and

overhead expenses; ability to apply closing stock and opening stock

expenses; Ability to observe the rules/principles of accrual or matching

concept; ability to observe that carriage inwards in part of the product

cost; competency in observing full accounting rules for withdrawals of

both cash and goods; ability to observe provisions for both depreciation

and bad debt; and ability to post correctly discount received and

discount allowed or given are the profit and loss account skills required

of business education graduates for sustainable entrepreneurship

ventures in Enugu State

Research Question 3: What are the statement reconciliation skills


entrepreneurship ventures in Enugu State?


93

Table 3: Mean and Standard Deviation of Lecturers and Business Education Graduates rating of Statement Reconciliation skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State

S/N Items Lecturers (N=22) Graduates (N=224)

X SD R X SD R

1 Ability to identify unpresented cheque(s) 4.32 0.78

A

3.90 0.87 A

2 Ability to identify uncredited cheque

4.09 0.92 A

4.07 0.77 A

3 Ability to identify bank interest and charges

4.27 0.77 A

3.88 0.62 A

4 Ability to identify bank interest received and paid.

4.05 0.84 A

3.74 0.63 A

5 Ability to identify any standing order(s) made to the bank 4.23 0.75

A 3.76 0.54

A

6 Capacity to recognize bank transfers made by customers

4.18 0.91 A

3.71 0.60 A

7 Ability to recognize dishonoured cheques of customers. 4.09 0.68

A 3.75 0.66

A

8 Ability to adjust the cash book balance

4.55 0.67 A

3.76 0.74 A

9 Ability to adjust the bank balance 4.23 0.75 A 3.68 0.72 A

10 Ability to sought the items of discrepancy in the presented cash book and bank statement.

4.41 0.67 A 3.55 0.77

A

11 Ability to reconcile the bank statement with the cash book balance.

4.09 0.68 A 3.70 0.67

A

12 Ability to reconcile the cash book balance with the bank statement.

4.18 0.96 A

3.89 0.70 A



graduates agreed in all the items of the instrument on the statement

reconciliation skills required of business education graduates for

sustainable entrepreneurship ventures in Enugu State, Nigeria. This is

94

because their mean responses were above 3.5 mean benchmark set for

this study. This indicates that ability to identify unpresented cheque(s);

ability to identify uncredited cheque; ability to identify bank interest

received and paid; ability to identify any standing order(s) made to the

bank; capacity to recognize bank transfers made by customers; ability

to recognize dishonoured cheques of customers; ability to adjust the

cash book balance; ability to adjust the bank balance; ability to sought

the items of discrepancy in the presented cash book and bank

statement; ability to reconcile the bank statement with the cash book

balance; and ability to reconcile the cash book balance with the bank

statement are the statement reconciliation skills required of business

education graduates for sustainable entrepreneurship ventures.

Research Question 4: What are the balance sheet skills required by


ventures in Enugu State Nigeria?


95

Table 4: Mean and Standard Deviation of Lecturers and Business Education Graduates rating of Balance Sheet skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State


X SD R X SD R

1 Ability to identify all the assets of the business

4.23 0.61 A

4.02 0.92 A

2 Ability to distinguish between fixed and current assets

4.14 0.71 A

4.01 0.69 A

3 Ability to identify all forms of liabilities of the business

4.23 0.75 A

3.77 0.79 A

4 Ability to classify liabilities into capital (owners equity) long term liabilities (loan of all sort) and short term liabilities

4.05 0.72

A

3.79 0.68

A

5 Ability to arrange both assets and liability in the T form of balance sheet.

4.05 0.89 A 3.85 0.75

A

6 Ability to prepare the balance sheet in form of T account in order of permanency.

4.14 0.77 A 3.83 0.66

A

7 Ability to recognize that all bank loan, mortgage, debenture loans and bonds are long term liabilities.

3.95 0.99

A

3.68 0.71

A

8 Ability to post balance sheet items appropriately in the balance sheet.

4.00 0.62 A 3.85 0.61

A

9 Ability to calculate and post goodwill as fixed assets.

4.09 0.75 A

3.71 0.66 A

10 Ability to accurately calculate depreciation and subtract from all fixed assets.

4.05 0.84 A 3.72 0.59

A

11 Ability to include all adjustment figures at the appropriate sides of the balance sheet.

4.23 0.81

A

3.66 0.65

A

12 Ability to prepare a balance sheet suitable for publication.

4.05 0.89 A

3.82 0.67 A


96


graduates agreed in all the items of the instrument on the balance

sheet skills required of business education graduates for sustainable



study. This implies that ability to identify all the assets of the business;

ability to distinguish between fixed and current assets; ability to

identify all forms of liabilities of the business; ability to classify

liabilities into capital (owners equity) long term liabilities (loan of all

sort) and short term liabilities; ability to arrange both assets and

liability in the T form of balance sheet; ability to prepare the balance

sheet in form of T account in order of permanency; ability to recognize

that all bank loan, mortgage, debenture loans and bonds are long term

liabilities; ability to post balance sheet items appropriately in the

balance sheet; ability to calculate and post goodwill as fixed assets;

ability to include all adjustment figures at the appropriate sides of the

balance sheet; and ability to prepare a balance sheet suitable for

publication are the balance sheet skills required of business education

graduates for sustainable entrepreneurship ventures.

97

Research Question 5: What are the computer skills required by


ventures in Enugu State Nigeria?


Table 5: Mean and Standard Deviation of Lecturers and Business Education Graduates rating of Computer skills required by Business Education Graduates for Sustainable Entrepreneurship in Enugu State


X SD R X SD R

1 Ability to use electronic spread sheet in the preparation of ledger account. 4.18 0.66

A

3.79 0.82

A

2 Ability to use computer in preparing pay slips of workers. 4.05 0.79

A 3.80 0.73

A

3 Ability to use computer in preparing profit and loss account. 4.18 0.59

A

3.70 0.78

A

4 Ability to use accounting software in preparing statement of affairs. 4.14 0.64

A 3.85 0.73

A

5 Ability to use computer in tracking records of customers. 4.23 0.75

A 3.65 0.72

A

6 Ability to use computerized business general ledger for business efficiency. 4.00 0.69

A 3.85 0.68

A

7 Ability to use database for proper stock management and control. 4.27 0.77

A 3.57 0.79

A

8 Ability to use computer to write memo for staff meeting 4.18 0.66

A 3.64 0.88

A

9 Ability to store and retrieve accounting information in a computer. 4.18 0.73

A 3.77 0.85

A

10 Ability to use computer in typing mailable business letters to customers and business partners.

3.91 0.75

A 3.76 0.82

A

11 Ability to use computer to transact e-business (using the internet to buy and sell)

4.36 0.90

A

3.71 0.92

A

12 Ability to use internet and computer software to generate current accounting information.

3.95 0.89

A 3.78 0.79

A


98


graduates agreed in all the items of the instrument on the computer




study. This implies that ability to use electronic spread sheet in the

preparation of ledger account; ability to use computer in preparing pay

slips of workers; ability to use computer in preparing profit and loss

account; ability to use accounting software in preparing statement of

affairs; ability to use computer in tracking records of customers; ability

to use computerized business general ledger for business efficiency;

ability to use database for proper stock management and control;

ability to use computer to write memo for staff meeting; ability to store

and retrieve accounting information in a computer; ability to use

computer in typing mailable business letters to customers and

business partners; ability to use computer to transact e-business

(using the internet to buy and sell); and ability to use internet and

computer software to generate current accounting information are the

computer skills required of business education graduates for

sustainable entrepreneurship ventures.

99

Hypothesis 1: There is no significant difference in the mean responses

of business education graduates and business education lecturers on

stocktaking skills required by business education graduates for

sustainable entrepreneurship ventures in Enugu State

Data relevant to this hypothesis 1 were presented in Table 6.

Table 6: t-test analysis comparing mean ratings of business education graduates and business education lecturers on stocktaking skills required by business education graduates for sustainable entrepreneurship in Enugu State

Group N Mean SD T df Sig.(2-

tailed) Decision

Lecturers 22 4.07 0.55

4.869 244 0.000

S

Graduates

224 3.69 0.32

NB: SD= Standard Deviation; df= degree of freedom; S=Significant; Sig.(2-tailed)= Associate probability

Table 6 above showed that sig. (2-tailed; 0.000 - Associate

probability) was less than the level of significance (0.05) set to test the

hypothesis. This means that the null hypothesis was rejected and the

alternative upheld. This implies that there is a significant difference in

the mean responses of business education graduates and business

education lecturers on stocktaking skills required by business


100

favour of the lecturers with high mean score of 4.07 against the

graduates of 3.69.



profit and loss account skills required by business education graduates

for sustainable entrepreneurship ventures in Enugu State.


Table 7: t-test analysis comparing mean ratings of business education graduates and business education lecturers on profit and loss account skills required by business education graduates for sustainable entrepreneurship in Enugu State

Group N Mean SD t df

Sig.(2-tailed)

Decision


3.237 244 0.001

S

Graduates

224 3.78 0.35

NB: SD= Standard Deviation; df= degree of freedom; S= Significant; Sig.(2-tailed)= Associate probability

Table 7 above showed that sig. (2-tailed) (0.001) was less than the

level of significance (0.05) set to test the hypothesis. This means that

the null hypothesis was rejected and the alternative upheld. This

implies that there is a significant difference in the mean responses of

business education graduates and business education lecturers on


101

for sustainable entrepreneurship ventures in favour of the lecturers

with high mean score of 4.05 against the graduates of 3.78.



bank statement reconciliation skills required by business education

graduates for sustainable entrepreneurship ventures in Enugu State


Table 8: t-test analysis comparing mean ratings of business education graduates and business education lecturers on bank statement reconciliation skills required by business education graduates for sustainable entrepreneurship in Enugu State

Group N Mean SD T df

Sig.(2-tailed)

Decision


4.825 244 0.000

S

Graduates

224 3.78 0.39

NB: SD= Standard Deviation; df= degree of freedom; S=Significant; Sig. (2-tailed) = Associate probability

Table 8 above showed that sig.(2-tailed)(0.000) was less than the






102

graduates for sustainable entrepreneurship ventures in favour of the

lecturers with high mean score of 4.22 against the graduates of 3.78.



balance sheet skills required by business education graduates for

sustainable entrepreneurship ventures in Enugu State


Table 9: t-test analysis comparing mean ratings of business education graduates and business education lecturers on balance sheet skills required by business education graduates for sustainable entrepreneurship in Enugu State


Sig. (2-tailed)

Decision


3.142 244 0.002

S

Graduates

224 3.80

0.40

NB: SD= Standard Deviation; df= degree of freedom; S= Significant; Sig. (2-tailed)= Associate probability

Table 9 above revealed that sig. (2-tailed)(0.002) was less than the






103

sustainable entrepreneurship ventures in favour of the lecturers with

high mean score of 4.09 against the graduates of 3.80.


of business education graduates and business education lecturers in

computer based accounting skills required by business education

graduates for sustainable entrepreneurship ventures in Enugu State.


Table 10: t-test analysis comparing mean ratings of business education graduates and business education lecturers on computer based accounting skills required by business education graduates for sustainable entrepreneurship in Enugu State


Sig. (2-tailed)

Decision


3.296 244 0.001

S

Graduates

224 3.74 0.54

NB: SD= Standard Deviation; df= degree of freedom; S= Significant; Sig.(2-tailed)= Associate probability

Table 10 above showed that sig.(2-tailed)(0.001) was less than the





computer skills required by business education graduates for

104



Findings of the Study

Below are the summary of the findings done inline with the

research questions that guided the study

Research Questions

A. Business education lecturers and graduates agreed that the


sustainable entrepreneurship ventures are:

1. Ability to calculate value of stock using different stock valuation

methods with mean scores of 4.23 and 3.90 for lecturers and

graduates;

2. Ability to calculate the cost of goods sold using the first-in-first-

out (FIFO) method with mean scores of 4.09 and 4.02 for

lecturers and graduates;

3. Ability to determine the gross profit applying the accounting

principles of prudence in selecting stock valuation method with

mean scores of 4.18 and 3.66 for lecturers and graduates;

4. Ability to compute the value of closing stock using last-in-first-

out (LIFO) method with mean scores of 3.95 and 3.91 for


105

5. Ability to calculate the cost of goods sold using different methods

of stock valuation with mean scores of 4.27 and 3.60 for lecturers

and graduates;

6. Competencies in using the appropriate stock valuation method in

valuing stock issues with mean scores of 3.86 and 3.63 for


7. Ability to determine the stock method to adopt at any given point

in time with mean scores of 4.05 and 3.67 for lecturers and

graduates;

8. Ability to identify which price method to adopt in valuing

different stocks bought at different times from the store with


9. Ability to determine unit cost of stock using various methods with


10. Ability to set equitable stock level e.g minimum, maximum or re-

order stock level with mean scores of 4.23 and 3.77 for lecturers

and graduates;

11. Ability to carry stock taking effectively to check for fraud, pilfering

and stock loss with mean scores of 4.27 and 3.79 for lecturers

and graduates;

106

12. Ability to observe the accounting principles of prudence to avoid

overstatement of profit with mean scores of 3.91 and 3.63 for

lecturers and graduates.

13. However, there is a significant difference in the mean responses of


on stocktaking skills required by business education graduates

for sustainable entrepreneurship ventures in favour of the

lecturers with high mean score of 4.07 against the graduates of

3.69.

B. Business education lecturers and graduates agreed that the profit

and loss account skills required by business education graduates

for sustainable entrepreneurship ventures:

1. Ability to calculate the gross or loss of a business with mean

scores of 4.41 and 3.77 for lecturers and graduates;

2. Ability to calculate the net profit or net loss of a business with


3. Ability to identify the expenses of the business with mean scores

of 4.14 and 3.81 for lecturers and graduates;

4. Ability to determine all revenue income with mean scores of 4.27

and 3.71 for lecturers and graduates;

107

5. Ability to graduate the overhead expenses into office, selling and

distribution with mean scores of 4.00 and 3.64 for lecturers and

graduates;

6. Ability to differentiate between trading and overhead expenses

with mean scores of 3.75 and 3.75 for lecturers and graduates;

7. Ability to apply closing stock and opening stock expenses with


8. Ability to observe the rules/principles of accrual or matching

concept with mean scores of 4.18 and 3.82 for lecturers and

graduates;

9. Ability to observe that carriage inwards in part of the product cost


10. Competency in observing full accounting rules for withdrawals of

both cash and goods with mean scores of 3.72 and 3.59 for


11. Ability to observe provisions for both depreciation and bad debt


12. Ability to post correctly discount received and discount allowed or

given with mean scores of 3.64 and 3.97 for lecturers and

graduates.



108

on profit and loss account skills required by business education

graduates for sustainable entrepreneurship ventures in favour of

the lecturers with high mean score of 4.05 against the graduates

of 3.78.

C. Business education lecturers and graduates agreed that the

statement reconciliation skills required by business education

graduates for sustainable entrepreneurship ventures are:

1. Ability to identify unpresented cheque(s) with mean score of 4.32

for lecturers against the graduates of 3.90;

2. Ability to identify uncredited cheque with mean score of 4.09 for

lecturers against the graduates of 4.07

3. Ability to identify bank interest and charges with mean score of

4.27 for lecturers against the graduates of 3.88;

4. Ability to identify bank interest received and paid with mean score

of 4.05 for lecturers against the graduates of 3.74;

5. Ability to identify any standing order(s) made to the bank with

mean score of 4.23 for lecturers against the graduates of 3.76;

6. Capacity to recognize bank transfers made by customers with


7. Ability to recognize dishonoured cheques of customers with mean

score of 4.09 for lecturers against the graduates of 3.75;

109

8. Ability to adjust the cash book balance with mean score of 4.55


9. Ability to adjust the bank balance with mean score of 4.23 for

lecturers against the graduates of 3.68;

10. Ability to sought the items of discrepancy in the presented cash

book and bank statement with mean score of 4.41 for lecturers

against the graduates of 3.55;

11. Ability to reconcile the bank statement with the cash book

balance with mean score of 4.09 for lecturers against the

graduates of 3.70;

12. Ability to reconcile the cash book balance with the bank

statement with mean score of 4.18 for lecturers against the

graduates of 3.89.



on bank statement reconciliation skills required by business


favour of the lecturers with high mean score of 4.22 against the

graduates of 3.78.

D. Both business education lecturers and graduates agreed that the



110

1. ability to identify all the assets of the business with mean score


2. ability to distinguish between fixed and current assets with mean


3. ability to identify all forms of liabilities of the business with mean


4. ability to classify liabilities into capital (owners equity) long term

liabilities (loan of all sort) and short term liabilities with mean


5. ability to arrange both assets and liability in the ‘T’ form of

balance sheet with mean score of 4.05 for lecturers against the

graduates of 3.85;

6. ability to prepare the balance sheet in form of ‘T’ account in order

of permanency with mean score of 4.14 for lecturers against the

graduates of 3.83;

7. ability to recognize that all bank loan, mortgage, debenture loans

and bonds are long term liabilities with mean score of 3.95 for


8. ability to post balance sheet items appropriately in the balance

sheet with mean score of 4.00 for lecturers against the graduates

of 3.85;

111

9. ability to calculate and post goodwill as fixed assets with mean


10. ability to accurately calculate depreciation and subtract from all

fixed assets with mean score of 4.05 for lecturers against the

graduates of 3.72;

11. ability to include all adjustment figures at the appropriate sides of

the balance sheet with mean score of 4.22 for lecturers against

the graduates of 3.67;

12. ability to prepare a balance sheet suitable for publication with

mean score of 4.05 for lecturers against the graduates of 3.82



on balance sheet skills required by business education graduates

for sustainable entrepreneurship ventures in favour of the

lecturers with high mean score of 4.09 against the graduates of

3.80.

E. Both business education lecturers and graduates agreed that the

computer skills required of business education graduates for


1. Ability to use electronic spread sheet in the preparation of ledger

account with mean scores of 4.18 and 3.79 for lecturers and

graduates;

112

2. Ability to use computer in preparing pay slips of workers with


3. Ability to use computer in preparing profit and loss account with


4. Ability to use accounting software in preparing statement of

affairs with mean score of 4.14 for lecturers against the graduates

of 3.85;

5. Ability to use computer in tracking records of customers with


6. Ability to use computerized business general ledger for business

efficiency with mean score of 4.00 for lecturers against the

graduates of 3.85;

7. Ability to use database for proper stock management and control

with mean score of 4.27 for lecturers against the graduates of

3.57;

8. Ability to use computer to write memo for staff meeting with mean


9. Ability to store and retrieve accounting information in a computer


3.77;

113

10. Ability to use computer in typing mailable business letters to

customers and business partners with mean score of 3.91 for


11. Ability to use computer to transact e-business (using the internet

to buy and sell) with mean score of 4.36 for lecturers against the

graduates of 3.71;

12. Ability to use internet and computer software to generate current

accounting information with mean score of 3.95 for lecturers

against the graduates of 3.78.



on computer skills required by business education graduates for

sustainable entrepreneurship ventures in favour of the lecturers


Discussion of Findings

Findings showed that the stocktaking skills required by business


Enugu State, Nigeria are: ability to calculate value of stock using

different stock valuation methods; ability to calculate the cost of goods

sold using the first-in-first-out (FIFO) method among others. Also,

findings of the study revealed that the profit and loss account skills

required of business education graduates for sustainable

114

entrepreneurship ventures in, Nigeria are: ability to calculate the gross

or loss of a business; ability to calculate the net profit or net loss of a

business; ability to identify the expenses of the business; and ability

to determine all revenue income among others. The findings equally

revealed that the statement reconciliation skills required by business

education graduates for sustainable entrepreneurship ventures in ,

Nigeria are the ability to identify unpresented cheque(s); ability to

identify uncredited cheque; ability to identify bank interest received

and paid; ability to identify any standing order(s) made to the bank;

capacity to recognize bank transfers made by customers; ability to

recognize dishonoured cheques of customers among others. Also, the

balance sheet skills required of business education graduates for

sustainable entrepreneurship ventures in Nigeria are the ability to

identify all the assets of the business; ability to distinguish between

fixed and current assets; ability to identify all forms of liabilities of the

business; ability to classify liabilities into capital (owner’s equity) long

term liabilities (loan of all sort) and short term liabilities among others.

Finally, findings revealed that the computer skills required of business

education graduates for sustainable entrepreneurship ventures in,

Nigeria are the ability to use electronic spread sheet in the preparation

of ledger account; ability to use computer in preparing pay slips of

115

workers; ability to use computer in preparing profit and loss account

among others.

These findings are in agreement with the findings of David (2001)

that found that extracting of trial balance, provision depreciation, and

reducing reliability are the accounting skills required of entry level

managers for business organization in Kogi state. Also, the findings of

Angyu, (2010) agreed with the findings of the present study. Similarly,

Oliver and Okoye (2013) found that communication and presentation

skills are the skills required of business education graduates. These

findings of Oliver and Okoye (2013) agreed equally with the findings of

the present study. The consistency of the findings attest to the fact that

stocktaking, profit and loss, bank statement reconciliation, balance

sheet and computer skills are some of skills required by business

education graduates for sustainable entrepreneurship ventures.

116

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

Re-statement of the Problem

Every entrepreneurship business in form of micro, small, medium

and large scale production need some sort of financial information for

effective business operations. Accounting information is required by

managers or owners of enterprise for effective business decision

making. However, graduates of business education in Nigeria and

Enugu State in particular employed in entrepreneurship at various

position, seem to be lacking in some knowledge and skills required for

keeping accounting records of entrepreneurship.

Ogalanya (2010) conducted a research to ascertain the extent to

which employers are satisfied with the accounting job skills exhibited

by business education graduates. The result showed that as a result of

low job skills exhibited, especially in accounting areas, some employers

subject their new employees to several weeks of in-plant retraining

session (on-the-job-training) to beef up their job-skills, and hence

improve their performance as business education graduates. Business

education programmes prepare graduates for a job or employment

within a wide range of business careers due to the inherent skills the

beneficiaries acquire.

102

117

However, lack of accounting employability skills among the

graduates may have contributed to a large extent, why business

education graduates due not venture into entrepreneurship business

after graduation. While those employed in entrepreneurship perform

below expectation as was observed by Ogalanya’s study (2000). In fact

some of the small and medium scale industries visited by the

researcher in Enugu State on his pilot survey, preferred employing

OND, HND and B.Sc graduates in accountancy to business education

graduates whom they fill lack some basic skills in keeping financial

records of enterprise. This may be responsible why business education

graduates are considered last in appointment of accounting officers in

entrepreneurship.

In fact, business education graduates because of the specialist

accounting skills the course offers, were suppose to be the best

entrepreneurs who should employ others rather than being in the

labour market seeking for job. Based on the foregoing, there is the

need to determine the areas of lack in accounting skills required by


Enugu State.

Summary of Procedure Used

The study titled accounting skills required by business education

graduates for sustainable entrepreneurship in Enugu State, Nigeria was

118

guided by five research questions and hypotheses. Descriptive survey

design was adopted for the study. Four hundred and fifty four (454)

business education lecturers and graduates in entrepreneurship

businesses in Enugu state under Small and Medium Scale enterprises

(SMEs) form the population of the study. While two hundred and forty

six (246) business education lecturers and graduates in

entrepreneurship businesses in Enugu state under Small and Medium

Scale enterprises (SMEs) form the sample, made up of 224 graduates

and 22 lecturers. A questionnaire on accounting skills required of

business education graduates was used for the study. The reliability of

the instrument was gotten using Cronbach Alpha formula with overall

reliability index of 0.94 gotten. Mean and standard deviation was used

to answer the research questions and t-test used to test the

hypotheses.

Summary of Findings

Research Questions

A. Business education lecturers and graduates agreed that the



1. Ability to calculate value of stock using different stock valuation

methods with mean scores of 4.23 and 3.90 for lecturers and

graduates;

119

2. Ability to calculate the cost of goods sold using the first-in-first-

out (FIFO) method with mean scores of 4.09 and 4.02 for lecturers

and graduates;

3. Ability to determine the gross profit applying the accounting

principles of prudence in selecting stock valuation method with


4. Ability to compute the value of closing stock using last-in-first-out

(LIFO) method with mean scores of 3.95 and 3.91 for lecturers

and graduates;

5. Ability to calculate the cost of goods sold using different methods

of stock valuation with mean scores of 4.27 and 3.60 for lecturers

and graduates;

6. Competencies in using the appropriate stock valuation method in

valuing stock issues with mean scores of 3.86 and 3.63 for


7. Ability to determine the stock method to adopt at any given point

in time with mean scores of 4.05 and 3.67 for lecturers and

graduates;

8. Ability to identify which price method to adopt in valuing different

stocks bought at different times from the store with mean scores


120

9. Ability to determine unit cost of stock using various methods with


10. Ability to set equitable stock level e.g minimum, maximum or re-

order stock level with mean scores of 4.23 and 3.77 for lecturers

and graduates;

11. Ability to carry stock taking effectively to check for fraud, pilfering

and stock loss with mean scores of 4.27 and 3.79 for lecturers

and graduates;

12. Ability to observe the accounting principles of prudence to avoid

overstatement of profit with mean scores of 3.91 and 3.63 for

lecturers and graduates.

However, there is a significant difference in the mean responses of





B. Business education lecturers and graduates agreed that the profit

and loss account skills required by business education graduates

for sustainable entrepreneurship ventures:

1. Ability to calculate the gross or loss of a business with mean

scores of 4.41 and 3.77 for lecturers and graduates;

121

2. Ability to calculate the net profit or net loss of a business with


3. Ability to identify the expenses of the business with mean scores


4. Ability to determine all revenue income with mean scores of 4.27

and 3.71 for lecturers and graduates;

5. Ability to graduate the overhead expenses into office, selling and

distribution with mean scores of 4.00 and 3.64 for lecturers and

graduates;

6. Ability to differentiate between trading and overhead expenses


7. Ability to apply closing stock and opening stock expenses with


8. Ability to observe the rules/principles of accrual or matching

concept with mean scores of 4.18 and 3.82 for lecturers and

graduates;

9. Ability to observe that carriage inwards in part of the product cost


10. Competency in observing full accounting rules for withdrawals of

both cash and goods with mean scores of 3.72 and 3.59 for


122

11. Ability to observe provisions for both depreciation and bad debt


12. Ability to post correctly discount received and discount allowed or

given with mean scores of 3.64 and 3.97 for lecturers and

graduates.




for sustainable entrepreneurship ventures in favour of the lecturers


C. Business education lecturers and graduates agreed that the

statement reconciliation skills required by business education

graduates for sustainable entrepreneurship ventures are:

1. Ability to identify unpresented cheque(s) with mean score of 4.32


2. Ability to identify uncredited cheque with mean score of 4.09 for

lecturers against the graduates of 4.07

3. Ability to identify bank interest and charges with mean score of


4. Ability to identify bank interest received and paid with mean score


123

5. Ability to identify any standing order(s) made to the bank with


6. Capacity to recognize bank transfers made by customers with


7. Ability to recognize dishonoured cheques of customers with mean


8. Ability to adjust the cash book balance with mean score of 4.55


9. Ability to adjust the bank balance with mean score of 4.23 for


10. Ability to sought the items of discrepancy in the presented cash

book and bank statement with mean score of 4.41 for lecturers

against the graduates of 3.55;

11. Ability to reconcile the bank statement with the cash book

balance with mean score of 4.09 for lecturers against the

graduates of 3.70;

12. Ability to reconcile the cash book balance with the bank

statement with mean score of 4.18 for lecturers against the

graduates of 3.89.




124

graduates for sustainable entrepreneurship ventures in favour of the

lecturers with high mean score of 4.22 against the graduates of 3.78.

D. Both business education lecturers and graduates agreed that the



1. ability to identify all the assets of the business with mean score of


2. ability to distinguish between fixed and current assets with mean


3. ability to identify all forms of liabilities of the business with mean


4. ability to classify liabilities into capital (owners equity) long term

liabilities (loan of all sort) and short term liabilities with mean


5. ability to arrange both assets and liability in the ‘T’ form of

balance sheet with mean score of 4.05 for lecturers against the

graduates of 3.85;

6. ability to prepare the balance sheet in form of ‘T’ account in order

of permanency with mean score of 4.14 for lecturers against the

graduates of 3.83;

125

7. ability to recognize that all bank loan, mortgage, debenture loans

and bonds are long term liabilities with mean score of 3.95 for


8. ability to post balance sheet items appropriately in the balance

sheet with mean score of 4.00 for lecturers against the graduates

of 3.85;

9. ability to calculate and post goodwill as fixed assets with mean


10. ability to accurately calculate depreciation and subtract from all

fixed assets with mean score of 4.05 for lecturers against the

graduates of 3.72;

11. ability to include all adjustment figures at the appropriate sides of

the balance sheet with mean score of 4.22 for lecturers against

the graduates of 3.67;

12. ability to prepare a balance sheet suitable for publication with

mean score of 4.05 for lecturers against the graduates of 3.82






126

E. Both business education lecturers and graduates agreed that the



1. Ability to use electronic spread sheet in the preparation of ledger

account with mean scores of 4.18 and 3.79 for lecturers and

graduates;

2. Ability to use computer in preparing pay slips of workers with


3. Ability to use computer in preparing profit and loss account with


4. Ability to use accounting software in preparing statement of

affairs with mean score of 4.14 for lecturers against the graduates

of 3.85;

5. Ability to use computer in tracking records of customers with


6. Ability to use computerized business general ledger for business

efficiency with mean score of 4.00 for lecturers against the

graduates of 3.85;

7. Ability to use database for proper stock management and control


3.57;

127

8. Ability to use computer to write memo for staff meeting with mean


9. Ability to store and retrieve accounting information in a computer


3.77;

10. Ability to use computer in typing mailable business letters to

customers and business partners with mean score of 3.91 for


11. Ability to use computer to transact e-business (using the internet

to buy and sell) with mean score of 4.36 for lecturers against the

graduates of 3.71;

12. Ability to use internet and computer software to generate current

accounting information with mean score of 3.95 for lecturers

against the graduates of 3.78.






Implications of the Study for Cost Accounting

The findings of this study implicated the following groups:

Business education graduates, lecturers, and managers of

128

entrepreneurship businesses. For the graduates, the findings of the

study have shown that skills required by them for sustainable

entrepreneurship are in the area of stocktaking, profit and loss

account, bank statement reconciliation, balance sheet and computer

based accounting skills. This means that they need these skills if they

are in lack, in order to function effectively in any entrepreneurship

venture.

For the business education lecturers, the findings of the study

have revealed the areas of lack in accounting skills. Lecturers, by these

findings are expected to launch an effective programme towards

addressing them for the undergraduates and postgraduates.

For the managers, the findings of the study have exposed the

areas of lack in accounting skills which may be reason some

entrepreneurship firms are closing up. Hence, managers are expected

to update themselves in these skills and make sure that their

employees possess them.

Conclusions

Based on the findings made, the following conclusions were

drawn: Findings of previous studies were consistent with findings of the

present study, which means that stocktaking, profit and loss, bank

statement reconciliations, balance sheet and computer skills are some

of skills required by business education graduates for sustainable

129

entrepreneurship ventures. Hence, for the graduates to become good

entrepreneurs in Nigeria, the skills are paramount.

Recommendations

Based on the findings made and conclusion drawn, the following

recommendations were made:

1. Stocktaking, profit and loss, bank statement reconciliations,

balance sheet and computer skills should be acquired by


Nigeria;

2. In-services training should be provided to graduates of business

education so as to enable them acquire these skills.

3. Business education lecturers should mount a programme for the

undergraduate and postgraduate in their schools, in order to

address the problem of lack of accounting skills

Limitations of the Study

The major limitation for this study was that not all the Small and

Medium Scale enterprises (SMEs) in Enugu state were covered since

many of them did not employ business education graduates. This

means that only selected business education graduates in SMEs in

Enugu were covered, hence making the findings non generalizable.

130

Suggestions for Further Study

The following suggestions were proffered for future researchers.

Future researchers should:

1. Investigate the accounting skills required by business education

students for sustainable entrepreneurship ventures;


lecturers for sustainable entrepreneurship ventures;


teachers for sustainable entrepreneurship ventures

4. Investigate the accounting skills required by managers of

entrepreneur business for sustainable entrepreneurship ventures

131

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141

APPENDIX A

Department of Vocational Teachers Education (Business Education) University of Nigeria Nsukka.

Dear Respondent,

REQUEST FOR COMPLETION OF QUESTIONNAIRE

I am a postgraduate student in the above named department.

Currently conducting a research on the Accounting Skills required by

Business Education Graduates for Sustainable Entrepreneurship in

Enugu State. You have been identified as one who could furnish the

researcher with the relevant information to effectively carryout the

study.

The researcher humbly requests your sincere opinion in

completing the attached questionnaire. You are assured that the

information given by you will be treated confidentially and will only be

used for the purpose of this study.

Thank you for your cooperation.

Yours faithfully

Olinya Timothy

142

APPENDIX B

QUESTIONNAIRE

Section A: General Information

Please fill in this personal data information by checking (√) where

applicable.

Questions

1. Name of University/College ______________________________

2. Sex Male________ Female _____________

3. Student

Lecturer

4. Students levels

First or 100 level

Second or 200 level

Third or 300 level

Forth or 400 level

5. Lecturers year of Experience

1-5

6-10

11-15

16-20

21-25

26-30

31 and above

143

Key:

Very Highly Required - VHR

Highly Required - HR

Required - R

Somewhat Required - SR

Not Required - NR

Section B

What are the stocktaking skills required of business education


Nigeria?

Please indicate with a check (√) on level of requirement.

S/N Item Statement VHR HR R SR NR

1 Ability to calculate value of stock using

different stock valuation methods

2 Ability to calculate the cost of goods sold

using the First-In-First-Out (FIFO)

method.

3 Ability to determine the gross profit

applying the accounting principles of

prudence in selecting stock valuation

method.

4 Ability to compute the value of closing

stock using Last-In-First-Out (LIFO)

method.

5 Ability to calculate the cost of goods sold

using different methods of stock

144

valuation.

6 Competencies in using the appropriate

stock valuation method in valuing stock

issues.

7 Ability to determine the stock method to

adopt at any given point in time.

8 Ability to indentify which price method

to adopt in valuing different stocks

bought at different times from the store.

9 Ability to determine unit cost of stock

using various methods.

10 Ability to set equitable stock level e.g

minimum, maximum or re-order stock

levels.

11 Ability to carry stock taking effectively to

check for fraud, pilfering and stock loss.

12 Ability to observe the accounting

principles of prudence to avoid

overstatement of profit.

Section C

What are the profit and loss account skills required of business


Enugu State?


1 Ability to calculate the gross profit or

loss of a business.

2 Ability to calculate the net profit or Net

loss of the business.

145

3 Ability to identify the expenses of the

business.

4 Ability to determine all revenue income.

5 Ability to graduate the overhead

expenses into office, selling and

distribution expenses.

6 Ability to differentiate between trading

and overhead expenses.

7 Ability to apply closing stock and

opening stock appropriately.

8 Ability to observe the rules/principles of

accrual or matching concept.

9 Ability to observe that carriage inwards

in part of the product cost.

10 Competency in observing full accounting

rules for withdrawals of both cash and

goods.

11 Ability to observe provisions for both

depreciation and bad debt.

12 Ability to post correctly discount

received and discount allowed or given.

146

Section D

What are the bank statement reconciliation skills required of


ventures in Enugu State?


1 Ability to identify unpresented cheque (s)

2 Ability to identify uncredited cheque

3 Ability to identify bank interest and

charges.

4 Ability to identify bank interest received

and paid.

5 Ability to identify any standing order(s)

made to the bank

6 Capacity to recognize bank transfers

made by customers

7 Ability to recognize dishonoured

cheques of customers.

8 Ability to adjust the cash book balance

9 Ability to adjust the bank balance

10 Ability to sought the items of

discrepancy in the presented cash book

and bank statement.

11 Ability to reconcile the bank statement

with the cash book balance

12 Ability to reconcile the cash book

balance with the bank statement.

147

Section E

What are the balance sheet skills required of business education

graduates for sustainable entrepreneurship ventures in Enugu State

Nigeria?

S/N Item statement VHR HR R SR NR

1 Ability to identify all the assets of the

business.

2 Ability to distinguish between fixed and

current assets

3 Ability to identify all forms of liabilities

of the business.

4 Ability to classify liabilities into capital

(owners equity) long term liabilities (loan

of all sort) and short term liabilities.

5 Ability to arrange both assets and

liability in the ‘T’ form of balance sheet

6 Ability to prepare the balance sheet in

form of ‘T’ account in order of

permanency.

7 Ability to recognize that all bank loan,

mortgage, debenture loans and bonds

are long term liabilities.

8 Ability to post balance sheet items

appropriately in the balance sheet.

9 Ability to calculate and post Goodwill as

fixed assets

10 Ability to accurately calculate

depreciation and subtract from all fixed

assets.

148

11 Ability to include all adjustment figures

at the appropriate sides of the balance

sheet.

12 Ability to prepare a balance sheet

suitable for publication.

Section F

What are the computer skills required of business education


Nigeria?


1 Ability to use electronic spread sheet in

the preparation of ledger account.

2 Ability to use computer in preparing pay

slips of workers.

3 Ability to use computer in preparing

profit and loss account

4 Ability to use accounting software in

preparing statement of affairs.

5 Ability to use computer in tracking

records of customers

6 Ability to use computerized business

general ledger for business efficiency

7 Ability to use database for proper stock

management and control.

8 Ability to use computer to write memo

for staff meeting.

9 Ability to store and retrieve accounting

information in a computer.

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10 Ability to use computer in typing

mailable business letters to customers

and business partners

11 Ability to use computer to transact e-

business (using the internet to buy and

sell)

12 Ability to use the internet and computer

software to generate current accounting

information.

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APPENDIX C

SAMPLE DISTRIBUTION OF BUSINESS EDUCATION GRADUATES AS PROPRIETORS AND EMPLOYEES OF

SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) IN THE THREE SENATORIAL ZONES IN ENUGU STATE

S/N Senatorial Zones

No of Proprietors or Managers

No of Human Resource Managers

No of Internal Auditors

No of Purchasing Managers

No of Accountants or Accounting Officers

No of Store Keepers

No of Computer Operators

Total

1 Enugu East 40 16 15 10 25 15 5 126 2 Enugu South 20 5 3 5 10 5 4 52

3 Enugu North 20 6 2 5 4 5 4 46 Total 80 27 20 20 39 25 13 224

SAMPLE DISTRIBUTION OF BUSINESS EDUCATION GRADUATES AS LECTURERS IN ACCOUNTING AREA IN THE FOUR PUBLIC TERTIARY INSTITUTIONS IN ENUGU STATE Gender S/N Names of Institutions No of Accounting

Lecturers Males Females Total

1 University of Nigeria, Nsukka (UNN)

4 3 1 4

2 Enugu State University of Science and Technology (ESUT)

5 4 1 5

3 Enugu State College of Education (Technical)

6 3 3 6

4 Federal College of Education Eha-Amufu (FCEE)

7 5 2 7

Total 22 16 6 22

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APPENDIX D

SOME OF THE BUSINESS AREAS VISITED THAT FORMED THE POPUALTION

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APPENDIX E Department of Vocation Teacher Education (Business Education) University of Nigeria Nsukka

__________________________

__________________________

__________________________

Dear Sir/Madam,

REQUEST FOR VALIDATION OF NEW RESEARCH INSTRUMENT I am a postgraduate student in the above names department and University with the Reg. No PG/M.Ed/10/52963, currently carrying out a Study on Accounting Skills Required of Business Education Graduates for Sustainable Entrepreneurship Ventures in Enugu State, Nigeria. Attached here is a draft of the instrument for the study. I solicit your assistance in vetting the instrument for content, clarity and suitability for collecting data for the study. Thanks. Yours faithfully

OLINYA, TIMOTHY NWUMERE

FACULATY OF EDUCATION N - University Of Nigeria Nsukka

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