Study on the Financial Management Model of Small SME Business in Mae Hong Son Province

Abstract

The purposes of this research were 1) To study money management and financial management of Small Medium Enterprise (SMEs) businesses in Mae Hong Son province. 2) To create a model of financial management of small medium enterprise (SMEs) businesses in Mae Hong Son province. The sample group used in this research are 140 entrepreneurs who supported by office of provincial commercial affair Mae Hong Son province in 2019-2020 by using a questionnaire form as a tool to collect data.

The results showed that small medium enterprise (SMEs) businesses in Mae Hong Son Province have knowledge and understanding of financial management in terms of financial planning that is not yet in accordance with financial management principles. Lack of system for conducting business according to academic principles. There are forms of accounting in financial management that do not conform to the generally accepted standard format. From the results of the above study, it has led to a model of financial management by designing a book of 6 accounts, consisting of 1) Revenue Account 2) Expense Account 3) Inventory Control Account 4) Raw Material Control Account 5) Manufacturing Cost Statement 6) Income statement by participation of SMEs entrepreneurs in designing the format of the account book for accounting records to meet the needs It can be used in real life and makes financial planning possible.