Accounting Practices and Financial Performance of Public Secondary Schools in Makueni County, Kenya

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dc.contributor.authorManei, Benson Orikae
dc.contributor.authorOmagwa, Job
dc.date.accessioned2019-07-15T13:21:02Z
dc.date.available2019-07-15T13:21:02Z
dc.date.issued2019-06
dc.descriptionResearch Articleen_US
dc.description.abstractIn Kenya, most public secondary schools fund management systems have been coupled by a lot of challenges among them corruption, mismanagement, problems of denied secondary certificates due to arrears that are non-existent, and some parents accusing the schools of making fictitious fees balance claims. Therefore, this brings out the case of serious financial performance challenges in Kenyan public schools. As a result, the study sought to determine the effect of accounting practices on the financial performance of public high schools in Makueni County. The accounting practices investigated were: record keeping, internal control and budgeting. The study was guided by three theories: Residue Equity theory, Institutional theory and Contingency theory. The study adopted a census design and the target population was 44 public secondary schools in Makueni County. The study used purposive sampling in picking respondents. Both primary and secondary data was used and the analysis procedure entailed the use of descriptive analysis (means and standard deviation) and Multiple Regression Analysis with the aid of SPSS Software (Version 21). The study found that record keeping had a positive and significant effect on financial performance of public secondary schools in Makueni (Beta = 0.819; P Value =0.000,< 0.05). The study further found that internal control had a positive and significant effect on financial performance of public secondary schools in Makueni (Beta = 0.853; P Value = 0.000,<.0.05). It was also established that budgeting had a positive and significant effect on financial performance of public secondary schools in Makueni (Beta = 0.811; P Value = 0.000, <0.05). Based on the findings, the study concludes that the relationship between record keeping, internal control as well as budgeting and financial performance of public secondary schools in Makueni County was positive and significant. The study recommendations the management and administration of the public secondary schools to involve all stakeholders in managing and accounting for the school finances and resources; empower, build capacity and remunerate bursars accordingly to enable them diligently deliver on their mandate as well as sensitize the school principals on basic accounting, bookkeeping and financial management to enable them oversee, supervisor and guide financial management among their institutions.en_US
dc.identifier.citationIOSR Journal of Economics and Finance (IOSR-JEF) Vol.10, Issue 3 Ser. V (May. – June 2019), PP 26-33en_US
dc.identifier.issn2321-5933
dc.identifier.issn2321-5925
dc.identifier.urihttp://ir-library.ku.ac.ke/handle/123456789/19562
dc.language.isoenen_US
dc.publisherInternational Organization Of Scientific Research (IOSR)en_US
dc.subjectAccounting Controlsen_US
dc.subjectRecord Keepingen_US
dc.subjectInternal Controlen_US
dc.subjectBudgetingen_US
dc.subjectFinancial Performanceen_US
dc.subjectPublic High Schoolsen_US
dc.titleAccounting Practices and Financial Performance of Public Secondary Schools in Makueni County, Kenyaen_US
dc.typeArticleen_US
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