Although record-keeping by small- and medium-scale enterprises (SMEs) has been extensively researched, there is a paucity of research on indigenous and innovative record-keeping. This paper examines the indigenous and innovative record-keeping practices of petty traders in Kumasi, Ghana, with a focus on how they gain a competitive advantage. In addition, it aims to derive a theoretical model from the findings of the study using grounded theory. Lastly, this research seeks to understand if academic and accounting practitioners are in sync with petty traders’ record-keeping. The results from focus group discussions show that petty traders engage in both indigenous (stones or sticks tallying, item or goods tallying, marking of walls, note pad or exercise books, pieces of tied clothes or polythene bags, vendors and customers, family and friends, guarantors and witnesses, susu collectors, and wooden boxes or tin cans) and innovative (mobile money, use of audio-visuals, and videotapes) record-keeping practices. The results also demonstrate that indigenous and innovative record-keeping of petty traders gives them a competitive advantage. A theoretical model is derived from the results using grounded theory. This study adds to the literature on record-keeping practices and has implications for further research.
competitive advantage, grounded theory, focus groups, indigenous, innovative, petty traders, record-keeping
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Recommended APA Citation
Amoah-Mensah, A. (2023). Are Accounting Gurus in Sync with Petty Traders’ Indigenous and Innovative Record-Keeping?. The Qualitative Report, 28(3), 677-699. https://doi.org/10.46743/2160-3715/2023.5606