Constraints Affecting Farm Accounting Practices Among Rural Farmers in Akwa Ibom State, Nigeria

The paper examines constraints affecting farm accounting practices among rural farmers in Akwa Ibom State. A multi stage sampling method was applied to obtain 381 respondents for the study. Rural farmers were drawn from six Akwa Ibom State Agricultural Development Programme field Structure Zones. Interview schedule and administration of questionnaire were used to obtain data for the study. Data were analyzed using descriptive statistics such as percentages, and means. The results of the study showed that majority (57.2%) of the respondents rarely utilized farm accounting practices. The study further showed that rural farmers mostly utilized debtors and creditors. It also revealed that majority (54.4 %) of respondents had low level of knowledge on farm accounting which was the major constraint faced by rural farmers. The study concluded that farmers were majorly constrained by lack of proper training on farm accounting. The study therefore recommended that an enabling environment where farm accounting training with qualified extension personnel should be provided by government, also formation of cooperatives which will help pull their resources to farm at large scale to ease the burden of preparing accounts for scattered far plots which has been identified as the major constraint in farm accounting.