The Influence of Financial Reporting on Financial Performance of Savings and Credit Cooperative Societies (SACCOS) in Dodoma City, Tanzania

Shirima, France G. (2024) The Influence of Financial Reporting on Financial Performance of Savings and Credit Cooperative Societies (SACCOS) in Dodoma City, Tanzania. Masters thesis, The Open University of Tanzania.

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Abstract

Savings and Credit Cooperative Societies (SACCOS) are currently a predominant form of external financing for small and micro enterprises in developing countries, including Tanzania. The current study aimed to examine the influence of financial reporting on the financial performance of SACCOS in Dodoma city in Tanzania. The study used an explanatory design with a sample of 38 SACCOS administrators in Dodoma City. Purposive sampling was used to select the sample. Data were collected by using a questionnaire. The validity and reliability of the instrument were observed. Data was analyzed by using a multiple regression model. The findings show that financial reporting practices were found to negatively influence the financial performance of SACCOS in Dodoma City.Furthermore, the two remaining independent variables, financial reporting quality and regulations, were found to influence the financial performance of SACCOS in Dodoma city positively. Based on the study's findings, policymakers must insist on reasonable financial reporting procedures in SACCOS to help them get more profits for the benefit of the members and society. In addition, the study recommends that the SACCOS administration in Dodoma City maintain the usage of current financial reporting regulations as they have been found to support financial performance better. Furthermore, there is a need to re-visit the current financial reporting practices to identify what is going wrong and make some changes to protect the financial performance of SACCOS in Dodoma city. Keywords: Financial Reporting, Financial Performance, SACCOS, Tanzania

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