The Accounting Function in the Small Business

Abstract

Industrial production in the UK is now lower than it was during the three day week. The country is suffering from a severe recession with no sign of a business upturn on the way. The number of insolvent companies going into liquidation has increased from 714 in the first quarter of 1974 to 1240 in the first quarter of 1975.1741 individuals went bankrupt in the first quarter of 1975 compared with 1147 in the first quarter of 1974. The trend is now apparent even in the high streets with more and more shops closing down. When one considers the history of the printed circuit industry in the UK it would appear that the incidence of failures among small pcb manufacturers is notoriously high. In order to highlight some of the pitfalls likely to be encountered by the small business a discussion of the accounting function is presented for the purpose of providing an insight into how this function works and how it can be used to avoid bankruptcy.

Citation

Carol, G.V. (1975), "The Accounting Function in the Small Business", Circuit World, Vol. 2 No. 1, pp. 20-22. https://doi.org/10.1108/eb043527