A study of financial management practices and their effect on the quality of accountability in churches: a case of friends churches in Nairobi.
Likhanga, Belinda Muhembele
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In the past financial management was often regarded as a bad word in the non-profit world. The importance of financial management to these organizations however cannot be under estimated. Many not for profit concerns obtain significant resources from voluntary donors who expect no product or service in exchange but who are concerned with whether their donations are achieving their intended purpose. Many of these organizations have even turned to for profit activities; most of these same organizations however have overlooked the potential of better financial management to enhance revenues. Churches are one group of non profits that receive a lot of funds in form of private contributions from the public. The general objective of this study was to analyze the effect of financial management practices on the quality of accountability in the churches in Nairobi. The researcher limited the research to Friends churches that are situated in Nairobi because of financial and time limitation. A cross-sectional survey study design was used and questionnaires were the instruments of choice, this instrument was structured to have both open ended and closed ended questions. Simple random sampling technique was used to select the study sample of 25 research subjects/churches while the primary data collected was coded and analyzed using SPSS to get the frequencies, percentages as well as generate graphs and table. The study found out that most of the churches have put in place basic financial management practices. The greatest challenge these churches face is how to improve their internal control systems.