An exploratory study of size and effects in the use of best financial and cost accounting practices in small business in Central Queensland

The aim of the study was to investigate the size and effects associated with the size measure of employees in small business in Central Queensland region in the context of a "best financial and cost accounting practice". This investigation surveyed a sample of 100 small businesses in Central Queensland region in order to test the interrelationships between strategic planning and budgetary control, use of internal and external accounting staff, manual versus computerised accounting, costing, recording systems and the composition of debt equality ratio and the effect of size on these variables. It was found that until the largest size is reached, there is a distinct trend in the increased use of strategic plans and budgetary control. The findings suggest that size plays an important role in the use of best financial and cost accounting Practice in small business. The paper concluded with some implications for the small businesses wishing to increase growth and employment in the Central Queensland region.