Barriers and catalysts to sound financial management systems in small sized enterprises

Stuart McChlery, Alan D. Godfrey, Lesley Meechan

Research output: Contribution to journalArticlepeer-review

8 Citations (Scopus)


This study focused upon the role, function and scope of the financial management systems operating in the small business sector of the economy. The research sought to understand why in certain firms robust financial systems exist whereas in others they are seen to be weak. To this end the role of the accounting profession as it effects financial management systems was investigated. The study produced some interesting results. Bookkeeping systems adopted for financial accounting scored positively which may well be linked to the high preponderance of integrated computer systems adopted by firms. Management accounting systems did not score as well as financial accounting overall. Whilst smaller businesses were most likely to be dissatisfied with their management accounting systems, long established firms were as likely to be dissatisfied with their financial and management accounting systems than more recently established entities.
Original languageEnglish
Number of pages27
JournalJournal of Applied Accounting Research
Issue number3
Publication statusPublished - 1 Jun 2005


  • small business sector
  • financial systems
  • management accounting
  • financial accounting
  • computerised systems


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