CALL FOR PAPERS

CERTIFICATE

IMPACT FACTOR 2018

Subject Area

  • Life Sciences / Biology
  • Architecture / Building Management
  • Asian Studies
  • Business & Management
  • Chemistry
  • Computer Science
  • Economics & Finance
  • Engineering / Acoustics
  • Environmental Science
  • Agricultural Sciences
  • Pharmaceutical Sciences
  • General Sciences
  • Materials Science
  • Mathematics
  • Medicine
  • Nanotechnology & Nanoscience
  • Nonlinear Science
  • Chaos & Dynamical Systems
  • Physics
  • Social Sciences & Humanities

Why Us? >>

  • Open Access
  • Peer Reviewed
  • Rapid Publication
  • Life time hosting
  • Free promotion service
  • Free indexing service
  • More citations
  • Search engine friendly

Plagiarism Detection

IJCR is following an instant policy on rejection those received papers with plagiarism rate of more than 20%. So, All of authors and contributors must check their papers before submission to making assurance of following our anti-plagiarism policies.

Is internal control system an effective tool in financial management? a practical experience from small and medium enterprises in Eldoret municipality, Kenya

Author: 
Peninah Jepkogei Tanui, Sarah Chumba and Jared Bogonko Bitange
Subject Area: 
Social Sciences and Humanities
Abstract: 

Small and Medium Enterprises (SMEs) constitute the engine of economic growth in developing countries. They are the source of employment to millions of people, technological innovations and also help in reducing poverty in developing countries. In Kenya, SMEs created 440,400 jobs in the year 2010 and also accounted for 18.4% of the gross domestic product (GDP) in 2011. The Kenya government has offered great support (both direct and indirect) to SMEs in line with the nation’s goal to become a middle level income economy by the year 2030. Despite their immense contribution to economic growth, SMEs in Kenya continually face challenges, including mainly lack of planning, improper financing and poor management. This has been the main cause of over 60% of the small enterprises failing each year in Kenya. Finance is the backbone for any businesses, whether small or large. As such, systems need be put in place to ensure that they are effectively managed. Guided by Systems and Competitive Advantage Theories, the study sought to establish the internal control systems (ICS) in place, how they are being evaluated, challenges faced by SMEs while implementing these systems and if they are effective tools in their financial management. The study targeted 21,320 SMEs in Eldoret Municipality but sampled 100 using the Taro Yamane’s 1967 table. Questionnaires were used to collect data which was then analyzed using descriptive statistics. From the findings, the ICS were being implemented by SMEs in Eldoret Municipality although no evaluation was being done. Furthermore, the ICS was found to be an effective tool in financial management, although many of the respondents said they lacked the knowledge about ICS while developing and implementing it. The study recommends that further research should be conducted on ways to evaluate the ICS and address the challenges related to ICS faced by SMEs.

PDF file: 

IJMCE RECOMMENDATION

ONLINE PAYPAL PAYMENT

CURRENT ISSUE

NEWS

CHIEF EDITOR
Rosane Cavalcante Fragoso, Brasil
ASSOCIATE CHIEF EDITOR

   

Jean-Marc SABATIER
Chief Scientific Officer and Head of a Research Group
France

Advantages of IJCR

  • Rapid Publishing
  • Professional publishing practices
  • Indexing in leading database
  • High level of citation
  • High Qualitiy reader base
  • High level author suport

EDITORIAL BOARD

Luai Farhan Zghair
Iraq
Hasan Ali Abed Al-Zu’bi
Jordanian
Fredrick OJIJA
Tanzanian
Firuza M. Tursunkhodjaeva
Uzbekistan
Faraz Ahmed Farooqi
Saudi Arabia
Eric Randy Reyes Politud
Philippines
Elsadig Gasoom FadelAlla Elbashir
Sudan
Eapen, Asha Sarah
United State
Dr.Arun Kumar A
India
Dr. Zafar Iqbal
Pakistan
Dr. SHAHERA S.PATEL
India
Dr. Ruchika Khanna
India
Dr. Recep TAS
Turkey
Dr. Rasha Ali Eldeeb
Egypt
Dr. Pralhad Kanhaiyalal Rahangdale
India
DR. PATRICK D. CERNA
Philippines
Dr. Nicolas Padilla- Raygoza
Mexico
Dr. Mustafa Y. G. Younis
Libiya
Dr. Muhammad shoaib Ahmedani
Saudi Arabia
DR. MUHAMMAD ISMAIL MOHMAND
United State
DR. MAHESH SHIVAJI CHAVAN
India
DR. M. ARUNA
India
Dr. Lim Gee Nee
Malaysia
Dr. Jatinder Pal Singh Chawla
India
DR. IRAM BOKHARI
Pakistan
Dr. FARHAT NAZ RAHMAN
Pakistan
Dr. Devendra kumar Gupta
India
Dr. ASHWANI KUMAR DUBEY
India
Dr. Ali Seidi
Iran
Dr. Achmad Choerudin
Indonesia
Dr Ashok Kumar Verma
India
Thi Mong Diep NGUYEN
France
Dr. Muhammad Akram
Pakistan
Dr. Imran Azad
Oman
Dr. Meenakshi Malik
India
Aseel Hadi Hamzah
Iraq
Anam Bhatti
Malaysia
Md. Amir Hossain
Bangladesh
Ahmet İPEKÇİ
Turkey
Mirzadi Gohari
Iran