Guidelines for Financial Management and Development of Accounting Model for Community Enterprises in Chawang District, Nakhon Si Thammarat Province

Abstract

The objectives of the present study were twofold, 1) to study financial management context and accounting of community enterprises in Chawang District, Nakhon Si Thammarat Province, and 2) to determine financial management guidelines and develop appropriate accounting practices. Using qualitative research methods, the data were gathered through participant observation and in-depth interviews. A semi-structured interview form was developed to serve as a guide for interviews and were evaluated and refined in accordance with experts’ suggestions and advice. A total number of 10 participants, including the chairman and the person in charge of accounting, were invited to be key informants of this research. The findings revealed that: 1) the enterprises had no monthly performance appraisal and no financial planning, including no cash budgeting due to a lack of knowledge and understanding of proper financial management. Moreover, most of account recording were not proceeded in accordance with appropriate account keeping processes. Furthermore, accounting records were performed but not continuously. Accounting records were not kept in their entirety. The problem with accounting preparation was that accountants lacked knowledge and understanding of appropriate accounting in accordance with generally accepted accounting standards, and a lack of continuity in accounting records. This was because the accountants did not have educational background in accounting and business administration and had never participated in trainings on account keeping. In terms of demand, it was discovered that there was a need for accounting form that was simple and did not necessarily require a large number of documents.   In addition, use of mobile technology was more preferrable than manual account recording in the book