THE ACCOUNTING PRACTICES OF BUSINESSES IN

STA. RITA GUIGUINTO BULACAN

This research proposal is submitted

in partial fulfillment of the requirements for

Senior High School – Grade 12

Accountancy, Business and Management Strand

By

Balagtas, Trisha Mae P.

Landayan, Louela Venice F.
Manzano, Christine Joy D.
Santiago, Liya Mae B.
Secciona, Aira Mae P.
Tan Feliz, Alleah V.
Toledo, Wayne Oliver E.
Tomaneng, Kirstie Steph M.

April 2024

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 ACKNOWLEDGEMENT

The researchers would first and foremost like to express their gratitude to the Lord,
our Almighty God for the knowledge, intelligence, understanding and strength to
finishing up this research study. Also, for giving the course this opportunity and
involvement that gave us so much to learn, and we thank you for the guidance all
through the end.

The researchers would also like to express our deep and sincere gratitude to our
research adviser, Mrs, Anna Veronica D. Sabariaga for providing us invaluable
supervision, support, and trust during the course of our research study. We would also
like to thank her for her empathy, patience, and knowledge that she imparts unto us. It
was a great privilege and honor to work and study under her guidance.

Deepest appreciation to our co-researchers Ms. Liya Mae B. Santiago, Ms. Trisha
Mae P. Balagtas, Ms. Louela Venice F. Landayan, Ms. Aira Mae P. Secciona, Ms.
Alleah V. Tan Feliz, Ms. Christine Joy D. Manzano, Ms. Kirstie Steph M.
Tomaneng, and Mr. Wayne Oliver E. Toledo, for participating and giving all the
knowledge and for working hard just to understand this study. For giving the trust
throughout the process of making and finishing this paper. To our dearest parents for
being in our side and giving us help financially and underlying support.

And to those individuals who were supporting and giving their knowledge about our
research topic. To the municipal employees for the copies and some advices about
Severe Flooding and to those business owners who agreed and gave us a chance to
interviewed them and to know more about their businesses. A thousand Thank You to
these individuals.

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 ABSTRACT

Accounting is a crucial process for recording a company's daily financial operations

and preparing annual financial statements. It involves monitoring all financial
activities, including inflow and outflow of funds. Accounting is often outsourced, but
understanding its fundamentals is essential for managing a firm. Effective accounting
practices are crucial for financial management and operational efficiency, especially
in the merchandising and service sectors. A descriptive mixed-method study was
conducted to collect quantitative and qualitative data on accounting practices in
businesses. The study distributed 13 questionnaires to 13 respondents, using a survey
questionnaire with both closed-ended and open-ended questions. Full enumeration
sampling was employed to assess the purpose of accounting records. The results
showed that 100% of businesses are using accounting records, with most using
computerized records for tracking receivables and payables. With enough knowledge,
businesses can maintain their operations over the years. In the survey questionnaires,
31% of respondents answered within the 2 to 4-year range, indicating a high level of
knowledge in accounting practices. With this research study, the businesses can use
this to have better knowledge on accounting practices of their businesses and what is
the most used accounting method. The businesses could also receive a needed
recommendation to help them in managing their businesses’ records, to help them
keep track of the important things about their business.

Keywords: (Accounting Practices, Businesses, Manual Accounting Method,

Computerized Accounting Method)

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 Table of Contents

Title Page…………………………………………………………………….…..….. i

Acknowledgement……………………………………………………………..….… ii

Abstract………………………………………………………………………..……. iii

Table of Contents……………………………………………………………..…….. iv

Chapter 1: The Problem and its Background

Introduction…………………………………………………………………… 1

Foreign Study…………………………………………………………………. 1

Local Study…………………………………………………………………... 4

Conceptual Framework………………………………………………………. 7

Statement of the Problem…………………………………………………….. 7

Hypothesis of the Study……………………………………………………… 8

Significance of the Study…………………………………………………….. 8

Scope and Delimitation………………………………………………………. 9

Definition of Terms…………………………………………………………... 9

Chapter 2: Methodology of the Study

Research Design………………………………………………………………11

Respondents of the Study…………………………………………………….. 11

Instruments…………………………………………………………………… 12

Data Collection………………………………………………………………. 12

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 Ethical Consideration………………………………………………………… 12

Data Analysis………………………………………………………………... 13

Chapter 3: Results, Findings and Discussion……………………………………… 14

Chapter 4: Conclusion and Recommendation

Conclusion……………………………………………………………..…….. 22

Recommendations…………………………………………………………… 22

References………………………………………………………………….……… 24

Appendices…………………………………………………………….………….. 26

Appendix A: Survey Questionnaire………………………………………. 26

Appendix B: Data Gathering……………………………………………… 27

Appendix C: List of Figure……………………………………………….. 29

Conceptual Framework………………………………………………..7

Appendix D: List of Tables…………………………………………………. 29

Table 1: Demographic Profile according to gender………………… 14

Table 2: Age of the respondents…………………………………….. 14

Table 3: Civil Status of the respondents…………………………….. 15

Table 4: Educational attainment of respondents…………………….. 15

Table 5: Number of years of business operation…………………….. 16

Table 6: Number of employees…………………...…………………. 16

Table 7: Assessment of respondents use of accounting record…..…. 17

Table 8: Assessment of respondents use of accounting records…….. 17

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 Table 9: Assessment and Ranking of Respondents Purpose of Keeping

Account Record…………………………………………………… 17

Table 10: Assessment and Ranking of respondents reasons for not

keeping accounting record…………………………………..……… 18

Table 11: Suggestion on how to improve the accounting

practices………………… …………………………………..………19

Appendix E: Curriculum Vitae…………………………………………… 34

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