Author(s): Emmanuel Opoku Marfo, Kwame Oduro Amoako, Newman Amaning, Reindolph Osei Anim, Kofi Owiredu-Ghorman
The relative silence of current sustainability research within SMEs compared to large industries is quite worrying as SMEs contribute immensely to sustainability challenges globally. This study examines the level of SMEs’ sustainability and the impact of accounting practices (budgeting, financial statement preparations and financial reporting) on the sustainability practices of SMEs within the Techiman Municipality of Ghana. Using a stratified random sampling technique, the researcher gathered data from owners, managers and employees of sampled SMEs, using self-administered questionnaires. The regression results indicated that whilst accounting practices have a high and moderate impacts on economic and social sustainability of SMEs respectively, there was no correlation on environmental sustainability. These findings point to the intentions of SMEs in Ghana, prioritising economic sustainability at the expense of social and environmental sustainability. There is the need for SMEs in Ghana to actively advocate a balance in the triple bottom line as an integral part of their accounting practices.