ACCOUNTING SKILL AND INDUSTRY NEED AS VERITABLE TOOL FOR SUSTAINABLE SMALL AND MEDIUM-SCALE ENTERPRISES.

Abstract

This study uses Ogun State as a case study to examine the accounting skills needed for

sustainable Small and Medium Scale Enterprises (SMEs) and to assess the competency level

of these skills in universities. Three hundred and forty-four (344) SME operators were

selected randomly using the methods developed by Taro Yammane (1967). Respondents for

Accounting Educators were drawn from senior lecturers and above. Google Forms were used

to distribute a 5-point Likert-scale survey to the sampled respondents. We used the Wilcoxon

signed-rank test for statistical significance and Ordinary Least Squares (OLS). The results

showed that all areas of accounting expertise management accounting information skills

(MAIS), pricing policy skills (PPS), budgeting, risk and uncertainty skills (BRUS), and

general business-related skills (GBRS) are crucial for SMEs and significantly affect their

long-term viability. The study's findings led the researchers to recommend that universities

are prioritising the teaching and learning of accounting so that students acquire a strong

foundation in the four core areas of management accounting (MAI, PP, BRUS, and GBR)

and also take into account the unique accounting needs of micro, small, and medium

enterprises.