Financial Statement System for Small Business

This project focuses on with the development of Financial Statement System for Small
Businesses which apply to any small business in Malaysia. In this day and age where IT
technologies permeate virtually every facet of society, business organizations especially
small and medium companies should not miss the advantages of it. This research will
look at the acceptance level and effectiveness of using financial management system
among the small companies in Malaysia. The target is to find out the rationale behind
these problems and solutions to make the development of financial management system
successful. The research involves small businesses in Malaysia such as grocery stores,
bakeries, computer shops, stationery shops and so on. In this project, several techniques
are used to elicit information such as conducting interview session with businesses,
carrying out surveys at the shops and also research on the Internet, journals and books.
In this project, the requirements for the system are listed and ranked. Based on the
requirements, the prototype of Financial Statement System for Small Business will be
developed to ensure that it satisfies all the requirements. Based on the findings that
have been done, it highlights that the industry should realize the potential that Financial
Statement System for Small Businesses offers and its ability to help the small and
medium companies to compete in larger markets.