Page 67 - IMDR MSME BOOK 2021

Managing Finance in Micro, Small & Medium Enterprises
business. They handle bookkeeping, treasury function,
banking, nancial forecasting and supporting the
auditor at the time of audits.
With the development happening in the Accounting and
Finance area, it was felt necessary to understand the
status of the respondents from MSME relating to their
Accounting and Finance Team. They were asked to do a
self-appraisal and answer
“Do you feel your Accounting & Finance team is
Qualied? 75% of the respondents believe that they have
qualied nancé and accounting staff and other 18%
partly agree to the same.
It is not only important to have qualied people working
in the Accounting and Finance team, but also equally
important that these people are experienced. When
asked “Do you feel your Accounting & Finance team is
Experienced? 74% of the respondents believe that they
have qualied nancé and accounting staff and
another16% partly agree to the same.
In many business organizations in spite of having a
qualied and experienced Accounting and Finance team,
challenges are faced because the team is smaller.
Insufciency in the number of human resources in any
function of business leads to chaos. Accounting and
nance being the support function suffer from this issue,
where not much money is spent, and it leads to
overburdened employees.

The respondents were asked to answer ““Do you feel your
Accounting & Finance team is Experienced? 66%
responded that according to them the Accounting and
Finance staff is sufcient in their team. 20% were partly
agreed about the sufciency of the team and 10% were
neutral about it.