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2 Exchange earning, Methodology, Methods

Nur Delina Hairuddin

The primary data collection methods employed were semi-structured questionnaires,
observation, and discussions with respondents. By utilizing primary data collected
through semi-structured questionnaires, observation, and discussions. The
questionnaire facilitated information collection regarding respondents, their
businesses, and the accounting records they maintained. Discussions with the
respondents helped to gather additional information beyond what was covered by the
questionnaire and observation. The data analysis involved the use of tables, cross-
tabulation, frequencies, percentages, mean calculations, and correlation analysis. The
analysis was based on a sample of 80 respondents, 40 men and 40 women. The findings
suggest a positive relationship between accounting record maintenance and business
performance, highlighting the significance of hard work, adequate capital, and
effective management.

Suggesting unexploited export markets in the COMESA region and other developing
countries can serve as potential sources of foreign exchange earnings. The government
has implemented policies to support the textile industry, including promoting small-

scale entrepreneurship and establishing training institutions. These initiatives aim to
encourage mass production by numerous small-scale producers. The study targeted
men and women from eighteen city council markets in Nairobi, with a total of 1610
businesses. The researcher selected 80 respondents randomly, with ten from each
market in the city's eight divisions and focused on Nairobi City Council markets due to
convenience and the potential for representative sampling.

Records that help to evaluate the past and present as indicated:

➢ Cash receipt journal, for daily listing of an incoming cash from sales collection on
account and other sources,
➢ Cash disbursements journal, for daily listing of all outgoing cash,
➢ General journal, a detailed daily listing of all other (non-cash) financial
transactions such as credit sales, purchase and depreciation.
➢ General ledger, to post monthly, quarterly on individual basis all transactions from

the journals.

JULY | 2023 The Influence of Business Records on Business Performance 11