The Problems and Its Background: F D E L

Chapter I
THE PROBLEMS AND ITS BACKGROUND
Introduction
Setting up an accounting process is important because it provides
organization and it allows the business to look forward. It allows the business to see
at a glance where it stands and how it is performing financially. Startups or small
businesses that don’t have an accounting process in place find themselves trapped
by past actions or constantly worried about having enough money to pay bills. An
accounting process allows business to understand their past activity and where they
currently stand in order to plan for the future. The primary purpose of accounting for a
business enterprise is to provide management with information necessary for efficient
operation of the business.
Business is any activity undertaken by man whereby he seeks to make
money over and above his costs, and where there is a risk of loss. It is the activity of
making one's living by producing or buying and selling products (goods and
services). Profit is a primary consideration for going into business. At the same time,
the entrepreneur accepts the risk of loss when he enters business in the quest for
profits. It may be said however that the entrepreneur must be convinced that the
expectation of profits should be potentially greater than the expectation of losses.
The primary goal in putting up a business is to earn a profit. To earn a profit,
owner or the manager must consider the accounting process because it measures
the results of an organization’s economic activities, as well as the information needed
in making economic decisions.
Night markets or night bazaars are street markets which operate at night and
are generally dedicated to more leisurely strolling, shopping, and eating than more
businesslike day markets. They are typically open-air markets. It is a grouping of
temporary outdoor stalls operated by petty traders where products are displayed for
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sale. The night market popularity steamed from the convenience they provided for
the local residents to do shopping for their household needs within their residential
areas.
The atmosphere, the sight, the smell, the sound, and the food were among
the factors that contributed to repeat visitations. Visiting the night market had become
a popular leisure activity for the locals. They would stroll from one end of the night
market to the other end, spent time looking over the goods, greeted some friends
along the way, acknowledge the traders, ask for the prices of the products, bargained
for some discounts, and they may choose to buy or just walked on. Although it is a
small business, accounting should also practice by the stall owners to enhance its
availability to grow and develop with their current business operations. They should
be aware on how they will use the step by step procedures of accounting: recording,
classifying, summarizing and interpreting; and practices which can helps to
determine their profits. It gathers data, assimilates, measures, and communicates
information about the financial activities of the business. In other words, whether it is
small or large business as far as money is involved, accounting is required to
account for it.
The owners of any kind of business should be aware of using accounting
process to know which products or services makes them the most profit and to arrive
in making economic decisions.
The researchers conducted this study to determine the level of awareness on
accounting process of the night market stall-owners. They also become interested on
knowing what programs may be proposed to enhance and increase the level of
awareness of stall owners.
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Statement of the Problem
This study was conducted to ascertain the level of awareness on accounting
process of night market stall-owners in Taal, Batangas as assessed by the night
market stall-owners.
Specifically, it sought to answer the following questions:
1. What is the profile of the respondents in terms of their monthly net sales?
2. What is the level of awareness on accounting process of the respondents in
terms of:
2.1 Recording;
2.2 Classifying;
2.3 Summarizing; and
2.4 Interpreting?
3. Based on the findings of the study, what programs may be proposed to
improve the awareness on accounting process of stall-owners of night market
in Taal, Batangas?
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Conceptual Framework
INPUT PROCESS OUTPUT
Profile of the respondents

in terms of their monthly
net sales.
Proposed programs for
enhancement of
Level of awareness on awareness on
accounting process in accounting process of
terms of: night market stall-
 Recording; owners
Survey Questionnaire
 Classifying;
 Summarizing;
 Interpreting
OCESS
Feedback
Figure 1
Figure 1: The input variables which contain the personal profile and the level
of awareness on accounting process of night market stall-owners in terms of;
recording, classifying; summarizing, interpreting while in the process contain survey
questionnaire, and output variables contain the proposed programs for enhancement
of awareness on accounting process of night market stall-owners.
Scope and Limitation of the Study

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This study aimed to determine the level of awareness on accounting process
of night market stall-owners in Taal, Batangas. The researchers want to determine
the profile of the respondents in terms of their monthly net sales. The researchers
wanted to measure the awareness of stall-owners on accounting process. The
respondents of this study were composed of twenty (20) registered food vendors of
night market stall-owners in Taal, Batangas.
Significance of the Study
This study is focused on the level of awareness on accounting process of
night market stall- owners in Taal, Batangas. Therefore, it is concluded that the study
can impart knowledge and determine its important to the following.
To the owners. The results of the study will serve as their source of
information in implementing the knowledge they can gain with regards to the
accounting process and the possible improvement in managing their business. The
result of the study will help them realize and know deeply the importance of
accounting process that will result to more efficient and effective management.
To the business. The knowledge of the business man/ woman about
accounting process can help them understand the life cycle of the business it can
also increase their awareness and serve as guide in understanding the importance of
complying with accounting process by night markets. The study may provide
additional input which could encourage them to pursue similar and related studies.
To the students. This can be a source of information specifically those who
are taking up business courses and related courses. As these students may become
business men/ business women in the future, it is beneficial that they have an
understanding regarding accounting process.
To Taal Senior High School. The finding and conclusion can be obtained
from this particular study will be useful to its students as well as the faculty members
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who may conduct the related studies or research work on this topic. This study will
serve as additional literature on the process of accounting
To the researchers. This will enrich their knowledge on the application of
accounting process. This will be a great help to them to the preparation on their
abilities in conducting critical research and teamwork.
To the future researchers. The result of the study will provide additional
knowledge, it will also serve as a source of useful information that will provide them
related literature for the research study of similar nature.
Definition of Terms
The following terms used in this study are defined conceptually and
operationally for better understanding.
Accounting. This is defined as a service activity, its function is to provide
quantitative information primarily financial in nature about economic entity that is
intended to be used in making economic decisions (Ballada, 2014). In this study, it is
a tool that can be used to provide management with information necessary for
efficient operation of business.
Accounting Process. This is defined as the art of recording, classifying,
summarizing, and in terms of money, transactions and events which are, in part at
least of a financial character, and interpreting the results there of (Ballada, 2014). In
this study, it is used in evaluating the current status and analyzing business operation
and transactions.
Classifying. This is defined as the sorting or grouping of similar and
interrelated economic transactions into their respective classes (Williams, 2013). In
this study, it is referring to whether the transaction has affected the elements of
accounting.
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Interpreting. This is defined as the process of analyzing and evaluating
presented in the financial statements and accompanying notes (Aduana, 2014). In
this study, the term is used to analyze and determine the business profitability and
the evaluation of the reported information.
Night Market. This is defined as the grouping of temporary outdoor stalls
operated by pretty trades where products redisplayed for sale (Zakariya, 2010). In
this study, it is generally dedicated to more leisurely strolling, shopping, and eating
than more business-like day markets.
Recording. This is defined as the process of systematically maintaining a
record of all economic business transaction after they have been identified and
measured (Valix, 2015). In this study, this term is used to chronologically recording of
business transactions and events daily.
Stall-owners. This is defined as the one who sell tropical fruits, vegetables,
fish, meat, poultry, dairy product, toys, accessories, clothes or local jungle exotic
plants and food that would be peculiar only to the specific areas that they operated
(Khalila Z., 2010). In this study, if refers to a person who occupied a designated part
of a street to set up their stalls.
Summarizing. This is defined as the preparation of financial statements
which include the statement of financial position, income statement, statement of
comprehensive income, statement of changes in equity and statement of cash flows
(Robles, 2012). In this study, it is referring to the preparation of financial statement
which is the final product of accounting in which the accounting information is
communicated to various interested users.
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Chapter II
REVIEW OF RELATED LITERATURE AND STUDIES
This chapter covers the literature related to the present study. This embodies
the related literature, related readings, related studies that are considered to the
progress of undertaking. This also presents the synthesis of the study. Also, ideas of
some writers regarding accounting process were evaluated.
Related Literature
The researchers gathered information from books and online resources which
were significant to the study. They were digested and integrated in the following
topics.
Night Market Stall Owners
Night Market traders were defined as small, petty traders, who participated in
the night market selling activities, either as a full-time job, or as a side job to
supplement their income, or for the purposes of learning business skills. Every day
and night hundreds of stalls are set up by the roadside and all kinds of goods and
foodstuffs are sold. The night market is a great place to try all kinds of local
delicacies and sweets, and to experience local life. This retail activity was existed
even in the pre-independent period. The term of `night’ does not imply that business
operates during night only, but some extend it was operating in day times. Term night
was synonym with this type of retail activities conducted by petty traders.
Some scholars agreed the night market categorized as informal sector in
economy and realized that played key role in economic development. The size of this
sector in an economy has important ramifications. It negatively affects a nation’s
ability to collect taxes to support its public sector, which can lead more economic
agents to move into the non-observed sector.
Night market is a grouping of temporary outdoor stalls operated by petty
traders where products are displayed for sale. The night market popularity steamed
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from the convenience they provided for the local residents to do shopping for their
household needs within their residential areas. The atmosphere, the sight, the smell,
the sound, and the food were among the factors that contributed to repeat visitations.
Visiting the night market had become a popular leisure activity for the locals. They
would stroll from one end of the night market to the other end, spent time looking
over the goods, greeted some friends along the way, acknowledge the traders, ask
for the prices of the products, bargained for some discounts, and they may choose to
buy or just walked on.
Accounting Process
Ballada (2012) eiterates that an accounting process could not be successful
without performing proper accounting. Accounting is a system for developing and
communicating information needed for economic decision making. Accounting is
often termed the language of business. He also noted that every business
organization must have an accounting information system which generates reliable
financial information needed by the decision makers in a timely manner.
Additionally, Williams (2010) mentioned the basic functions of an accounting
system: (a) to interpret and record the effects of business transactions, (b) classify
the effects of similar transactions in a manner that permits the determination of the
various totals and subtotals useful to management and used in accounting reports,
and (c) summarizes and communicate the information contained in the system to
decision makers.
The steps in simple accounting process for an accounting system include
examining source documents, journalizing, posting, preparing a trial balance and
completing the financial statements, the statements of financial position and income
statement (Cabrera,2015).
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He added that the information system refers to the methods and records that
an entity establishes to record, process, summarize, and report transactions and to
maintain accountability for the related assets, liabilities and equities.
Roever (2014), stated that street trade can offer viable livelihood, but earning
are low and risk are high for many vendors. Also, according to IEMS (2012) the rising
prices and increased competition were still affecting the sales of street vendors like
night market stall-owners. More competition means vendors take home lower
earnings.
The accounting cycle, also commonly referred to an accounting process, is a
series of procedures in the collection, processing and communication of financial
information.
Recording
Every business supposed to maintain fine accounts comprising of all that
financial transactions, financial as well as non-financial information. These
transactions are an event that occurs in a business that must be recorded to provide
or present properly report which is financial information called financial statements.
Recording of a transaction can be performed through writing in the journals whether it
is paper or electronic.
On the other hand, there are four steps that are part of accounting process
used to record individual business transaction in the accounting records. First is
identifying the transaction or determining what kind of transaction it may be. Second
is preparing the document such as invoice to a costumer or an invoice from a
supplier. Third is identifying accounts such as an asset, liability, expense, and
revenue to be recorded. After these steps is finally recording the business transaction
in the accounting system. This is done either with a journal entry or an on-line
standard transaction form. In latter case, the transaction forms record information in a
pre-determined set of accounts.
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In recording transactions, two steps are required; first of which is to analyze
transactions to determine whether it should be recorded in the accounting records.
Second is that transactions must be physically entered in the accounting system. For
every transaction, one or more accounts must be credited and debited and this
accounted should be balanced (Ballada,2012).
In addition, the term chronologically would mean that financial activities are
recorder in the order of their actual happening.
Valix, 2013 stated that the steps in a company's system includes: identifying
the events occurring within, its economic environment that financial transactions;
analyzing the documents to determine the relevant financial information to be
recorded; recording the financial information; storing this information for retrieval and
use.
Moreover, from (Russell, 2016) there is nothing new in finding out that many
small businesses still record and do most of their business analysis with pen and
paper. According to Tracy (2011), it would be possible, though not very likely, that a
very small business would keep its book the old-fashioned way - record all
transactions and do all the other steps of the bookkeeping cycle with pen and paper
and by making handwritten entries.
According to Peavler (2017), when a small business made a transaction, they
record it to their journal and the owner know what account is being affected by it.
In addition, from King and Mcgrath (2010), many business owners don't make
thing like that because of the time-consuming reason.
Classifying
Arganda, Cardenas-Atis, and Del Rosario (2013), cited that classifying phase,
items are sorted and grouped. Similar items are classified under the same name.
they may be classified as asset accounts, liability accounts, capital accounts,
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revenue accounts and expense accounts. This classification is useful to the needs of
the management.
Classifying of transactions and events is affected manually in another
accounting book called the general ledger, or electronically with computers. Again,
with computers, the general ledger may be substituted by a disk or diskette. Manually
or electronically, the classifying of financial activities into specific account
classifications is technically called “posting” (Ebusca, 2009).
Additionally, William (2010), cited that accounting system is classifying the
effects of similar transactions in a manner that permits determination of the various
totals and subtotal useful to management and used in accounting reports.
All accounts belong to either the balance sheet or the income statement.
Classify balance sheet accounts as assets, liabilities or equity. Classify income
statement accounts as revenue, expenses or draws. You can debit or credit an
account. Debits are always on the left column and credits are always on the right
column. The type of accounts determines whether a debit or credit increases or
decreases the value of the account. The “normal balance column” for an account is
the side on which the account increases.
Summarizing
Ricafrente (2008), emphasize that summarizing phase refers to the procedure
of abridging or summing up of accounting entries that were classified in the
classifying phase into more useful financial statements. These financial statements
will be needed by the following major users of financial information: (1) owners of the
business, (2) management of the business, (3) banks or creditors, (4) the
government or its agencies, (5) prospective investors, (6) consumers, (7) employees
of the business, (8) the general public.
Likewise, Ebusca (2009) cited that summarizing is the process of preparing
financial reports (interchangeably used to mean “financial statements”) from the
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recorded and classified transactions and events of the enterprise. As these reports
contain financial information about the activities of the enterprise and further that the
information is used for decision making by management, financial statements may be
prepared periodically; i.e. monthly, quarterly, semi-annually, or annually. Parties
other than management normally find annual financial reports sufficient for their
purposes.
According to Arganda et al. (2011) mentioned that after each accounting
period, data recorded are summarized through financial statements. These reports
are submitted to the management at the end of each accounting period or as the
need arise.
Summarizing involves presenting the already classified data in summarized
form. This involves the preparation of balance sheet. The word summarizing used in
the accounting field means to prepare the trial balance. This is basically balancing
the books at the end of the month or a year. The initial stage of accounting process
includes creating supporting documents for financial transactions that have taken
place. These documents may take the form of vouchers and will include information
regarding the transaction including the date, value and the account it was paid in to
or out of recording transactions (Bonham et al. 2008).
The summarizing phase of accounting involves summarizing the data after
each accounting period, such as a month, quarter or year. The data must be
presented in a manner which is easy to understand and use by both external and
internal users of the accounting statements. Graphs and other visual elements are
often used to complement the text data (https://bizfluent.com/info-8160831-basic-
phases-accounting.html).
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Interpreting
By interpreting the data in the financial statements, users are able to
determine the financial standing of the company as well as its stability and growth
potential.
Interpreting is where people look at the data that has been recorded,
classified and summarized and they interpreted that data. By doing this, the people
examining the data will be able to reach informed decisions about the financial status
of a company. This data will also be used to come up with future financial plans for
the business.
According to Nicolau (2009), the main purpose of accounting is in the
decision-making process as the understanding of accounting information contributes
to better decision. Hence, by reporting and collecting accounting information
controllers can influence management decision-making and lead them towards
decision that are in accordance with organization objectives.
Meanwhile, Elliot, B. and Elliot, J. (2008), suggested that in making decision,
one will probably rely on numbers of inputs such as one’s experience, knowledge,
common sense and judgment. Decision making process requires information,
financial and non-financial information as a significant number of this information
comes from accounting information systems and from financial statements. In the
context of consideration of financial statements as a function of decision making, it is
important to emphasize that different users must know how to read those statements.
In that context, one can describe financial statement analysis as the process where
one convert data from financial statements into usable information for business
quality measurement by different analytical techniques, which is very important in the
process of rational management to ensure company’s development and existence on
the market.
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Keimer (2012), found out that accounting obviates the necessity remembering
various transactions. In addition, Hubber (2012), in his opinion, accounting
information provides useful information for monitoring decision making process and
performance of the organization shown that accounting information for making
process and performance of the organization revealed that accounting information
have effect on company’s performance.
Nevertheless, Arganda, et. al. (2011), said that interpreting, usually due to the
technically of accounting reports, the accountant’s interpretation on the financial
statements is needed. In this case, analysis reports are submitted together with the
financial statements.
For Alhubaity, K. and Alsaqah, Z., they described accounting information as
all quantitative and non-quantitative information that concern with the economic
events that are processed and reported by information system in the financial
statements that presented to external and internal uses.
Synthesis
All the cited conceptual literature provided significant contributions in
conducting this study and provided concepts and necessary information about
accounting process.
As presented, accounting process is essential in place at the very start so that
when the company grows, it would not be difficult to know how and where to start
expanding the business. Ballada noted that an accounting process cannot be
successful without performing proper accounting. He added that every business
organization must know how to apply the accounting process which will generate
reliable financial information needed by the decision makers in a timely manner.
Accounting process starts with recording. In recording, two steps are
required; first of which is to analyze transactions and second is that transactions
must be physically entered in the accounting system. And this is supported of other
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authors especially Ricafrente (2007), he stated that recording phase is concerned
with collecting information about economic transactions and events into a form useful
to the accounting process.
According to Garcia, Mojar & Gemanil (2007), recording phase would involve
the selection and analysis of transactions and events that need to be recorded. The
dual effect of these transactions and events on the economic resources of the
enterprise should be measured in terms of money and classified accordingly.
In classifying phase, Ballada (2012) stated that classifying involves identifying
the type of account affected by the transaction or event. It also involves determining
the effect of the transaction or event on the account similar to Arganda (2013) tackled
in classifying phase, items are sorted and grouped. Similar items are classified under
the same name. they may be classified as asset accounts, liability accounts, capital
accounts, revenue accounts and expense accounts.
According to Lao Ong (2012), summarizing is the process of preparing
financial reports from the recorded and classified transactions and events of
enterprise same as to Ebusca (2009) as he reveals that summarizing is the process
of preparing financial reports (interchangeably used to mean “financial statements”)
from the recorded and classified transactions and events of the enterprise.
Related Studies
This part of the paper presents the related studies reviewed by the
researchers, which they believed, are important to better understand the study.
According to Cabrera (2006) in the study entitled “Accounting Practices of
Computer Shops: An Analysis”, accounting process involves the recording of
business transactions, preparation of financial reports and analysis of financial
statement. Recording of business transactions refers to the accumulation of business
documents, analyzing the effects of transactions on the accounting equation,
journalizing the transaction, posting the journal entries to the ledger and preparing
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the trial balance. The main goal of the researchers is to determine the significant
determinants of the accounting practices according to the status of their computer
shops. To achieve such goal, the method that was used by the researchers was
descriptive method where quantitative data was collected. In their study two variables
are used, the accounting system and accounting process to observed the computer
shops. Researcher’s finding revealed that most of the shops are operating within 9
years and above with 3-5 numbers of employees. And by applying proper accounting
process to the simple business was really good to earn higher profit.
Moreover Jean, Medrano, Mendoza and Purio (2015), in their study entitled
“Assessment on the Accounting System of Micro Business Enterprises in Batangas
City”, state that accounting system is the procedure and processes used by a
business to analyzed transactions, handle routine bookkeeping tasks and structure
information so it can be used to evaluate the performance and health for the
business. He added that it is a formal system of identifying, measuring, accumulating,
analyzing, preparing, and communicating accounting information about a particular
entity to a particular group. Formal system means that the accounting system
combine out its function with laid down rules, regulations, methods, procedures and
techniques. Their study aimed to assess the accounting system of micro business
enterprise. The researchers used the descriptive method in conducting the study to
arrive with the most precise conclusion. The survey questionnaire was used as a
primary tool in collecting the data. In analyzing the data gathered, various statistical
tools were used such as relative frequency, weighted means and analysis of
variance. The respondents of the study are micro business owners. Based on the
findings revealed in the study, significant differences existed on the business profile
of the respondents which are recording and classifying when grouped according to
nature and form of business, interpreting when grouped according to form of
business.
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In addition, according to the study conducted by Maguindayao, Mendoza and
Mercado (2014), wherein in their study which entitled “Assessment on the Accounting
System, Operation and Financial Management of Home-Based Retail Business in
Batangas City”, accounting system is formally defined as a system for providing
quantitative information, primarily financial in natur, about economic entities that is
intended in making economic decisions. Operationally, that is used to determine the
most problematic area of the business operation that needs more enhancements. It
is also used to find if there is a systematize basis to know the business operation’
profitability. It was focused on the business operation and financial management and
accounting system, and the problems encountered regarding the aforementioned
variables. The method that was used by the researchers was descripted method
where quantitative data was collected. The secondary data was collected to analyze
the accounting system, operation and financial management of home-based retail
business in Batangas City. The subject of the study was home-based retail business
in Batangas City, was determined through non-profitability sampling. Researcher’s
findings revealed that respondents are differ on their assessment on the business
relative to accounting system and financial management when grouped according to
number of years in operation and location. Moreover, the relationship between
encountered and assessment of the business in terms of accounting system and
operating management were found to be dependent.
On the case study of Dawuda, A. and Azeko I. (2015) which focused on
“Financial Records Keeping Behaviour of Registered Small-Scale Businesses”
(SSBs) in the Bolgatanga Municipality, a multi-stage sampling method was used to
select one hundred and twenty (120) subjects. As per the study, majority of SSBs,
did not keep proper records of their businesses, hence, inability to measure financial
performance and position of their businesses. The factors that accounted for the
failure of SSBs to keep proper records among others include lack of knowledge in
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accounting; expensive to hire qualified accounting staff. Exposing financial
information for tax; time consuming and inability to quantify the value of proper
records keeping and lack of internal control procedures. It was also observed that the
volume and value of transactions could influence records keeping behavior of SSBs
owners. The study, therefore, recommends that the national board for small-scale
industries should assist small-scale business operators about the need to keep
proper records. A law on financial records of small-scale businesses should be
passed and strictly enforced. The regulatory bodies should also provide simple
accounting manual for the businesses.
In addition to this is the study by Mwangi, B. (2011) entitled “Accounting
System in Small and Micro Enterprises in Kenya” which analyzed how small traders
in Kenya keep business records, whether this record is written form or are held in the
memory of the trader and enumerate the reasons behind the success of small trading
in Kenya, the findings indicated that these enterprises do have an accounting
system. The written accounting records were limited to a list of debtors and business
creditors. The other records were held in traders’ memory. This system made it
difficult to analyze data in this sector as information is elicited only through careful
inquiry and discussion with individual traders. The result of the findings also indicates
that trading in this sector is profitable just like the other business in the formal
business sector. Lack of written accounting information makes it difficult to carry out
financial ratios relating to profitability.
Analysis of the study by Rathnasiri, A. (2014) which is entitled “Financial
Reporting Practices of Small and Medium Enterprises in Sri Lanka”, revealed that
SMEs pay more consideration in preparation and monitoring of 3 components of
financial statements balance sheet, statement of profit and loss account and cash
flow statement. Thus, Sri Lankan SMEs prepared the reports that help the owners to
control the financial position and performance of the business. Results demonstrated
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that the highest importance is place on preparation and monitoring of cash flow of the
business, which is critical to success, and survival of SMEs. However most of the
SMEs had maintained informal accounting systems and lack of comprehensive set of
financial reports. SMEs in Sri Lanka must cope with the uncertainty of the business
environment, therefore up to date financial information for decision making is
paramount importance.
Mendoza, Rufo (2014) showed in his study entitled “Accountancy Service
Requirements of Micro, Small and Medium Enterprises in the Philippines” that micro
and small enterprises have a simpler way of doing their task from recording to
preparation of financial statement. Also, with the same revelation, study by Fajutag,
et al. (2014) stated that in accounting system concerning recording, business owners
record their business transactions manually. Classification, transactions and events
are properly noted. In summarizing, their data is presented in a manner which is easy
to understand and as to interpretation, they forecast future prospects of the business
using the information available.
Synthesis
According to the study of Maguindyao et al. (2014) stated the store owners
find it hard and time consuming to keep the records of the store’s daily transactions
because of lack of knowledge on how to track their business operation. Owners
cannot determine its profitability because they fail to keep a record of its business
transaction, thus they do not know which part of the operations need to improvement.
Same as to the present study with the stall owners records daily transactions in
easiest way but they are not giving importance for explaining each transaction and
not effective in creating a conclusion that might help the business.
On the study of Cabrera (2006) is closely related in present study since both
emphasized on the importance of accounting process in the business operation
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and the proper implementation and use of it in achieving a profitable and successful
business.
In the study of Fajutag et al. (2014) compared in the sampling design their
study used random sampling method while in the present study no sampling design
was used.
And mostly important, an owner of the business must have the capacity to run
the specific business that he is engaging to by having knowledge on that business.
Furthermore, the researchers also added that accounting process is very
familiar to most people engaged in business except those petty traders. But it still
does not give them idea on what particular system to be used, that the reason why
the researchers started this study.
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CHAPTER III
RESEARCH METHODOLOGY AND PROCEDURE
This chapter presents the research methodology used in this study, research
design, researcher instrument, preparation and validation of questionnaire, data
gathering procedure, score of responses and statistical treatment of data.
Research Design
The research design used by the researcher is the descriptive method. They
used this method because it is the most appropriate method since the purpose of this
study was to determine the level of awareness on accounting process of the night
market stall-owners. According to Calderon (2008), as cited by et al (2011),
descriptive method is also known as statistical research, it describes data and
characteristics about the population and phenomenon being studied. In addition,
Calmorin (2010), stated that descriptive type of research design is used in the study
involving present condition. Its purpose is to find the truth. Studies using descriptive
design are valuable in providing facts. They provide essential knowledge about the
future objects and persons.
Descriptive method is used in this study because it is the most suitable
method in gaining knowledge about the study. Specifically, this could describe the
awareness on accounting process. The researchers used the descriptive method of
research in order to describe and interpret the needed data.
Respondents of the study
The respondents of the study will be the night market stall-owners in Taal,
Batangas. Twenty (20) registered food vendors night market stall-owners will be
involved in this study. The researchers came up with this number of the respondents
through the use of total population sampling which is a type of purposive sampling
22
technique where you choose to examine the entire population that have a particular
set of characteristics.
Data Gathering Instrument
The research used the questionnaire as the primary tool for gathering
information needed in the study. The questionnaire was structured in such a way that
respondents will be able to answer it easily. The primary aim of the questionnaire is
to determine the Level of Awareness on Accounting Process of Night Market Stall-
Owners in Taal, Batangas.
Preparation and Validation of Questionnaire
The questionnaire used by the researchers was developed by the group. It
was initially drafted as a result of several reading and consultations. The researchers
do their best to improve and revise the questionnaire and incorporated all
suggestions that came out after the validation.
Data Gathering Procedure
The researcher conducted a survey questionnaire on the selected respondent
from the night market of Taal, Batangas. They asked permission approval to the
respondents and the researchers directly distributed the survey questionnaire to the
chosen respondents. The content of the survey questionnaire was explained clearly
and respectfully. The researcher collected the entire questionnaire without any
problem.
The questionnaire was successfully accomplished through the determination
and efforts of the researchers.
23
Scoring of Responses
Likert Scale. It is the psychometric scale commonly used in questionnaires
and is the most used scale in survey research such that term is often used either
interchangeably with rating scale even though the two are not synonymous. It is used
in the study to know the level of awareness on accounting process of night market
stall-owners. It was assigned with the following values: 4- Strongly aware, 3- Aware,
2- Slightly aware, 1- not aware.
To determine the degree of the answer when it comes to the level of
awareness on accounting process of night market stall-owners in Taal, Batangas, the
respondents was guided by the following scale.
Response Scale Range Verbal Interpretation Symbol
1 1.00 – 1.49 Not Aware (NA)
2 1.50 – 2.49 Slightly Aware (SLA)
3 2.50 – 3.49 Aware (A)
4 3.50 – 4.00 Strongly Aware (STA)
Statistical Treatment of Data
To arrive more efficient and reliable data, the researchers used various
statistical techniques that will be great help. The questionnaire was designed for
statistical analysis of the respondents. The statistical measurements that are used in
treating data were:
Frequency or Percentage. This was used to describe the profile of the respondents
in terms of their monthly net sales. The formula used is:
24
(P)= F/N x 100
Where: F = Frequency
N= Total number of the respondents
P= Percentage
Weighted Mean. This was used to determine the level of awareness on accounting
process of the respondents.
25
Chapter IV
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
This chapter presents the analysis and interpretation of data gathered from
the questionnaire administered to the respondents.
1. Profile of the respondents in terms of their monthly net sales
Monthly net sale of the night market stall-owners is an important variable in
understanding this study. Monthly net sales indicate the total number of money that
the respondents generated in a month and therefore monthly net sales becomes
more important in examining the responses.
Table 1
Distribution of Respondents in terms of Monthly Net Sales
Percentage
Monthly Net Sales Frequency Rank
(%)
Below Php 6,000 5 28 2
Php 6,000 – Php 10,000 9 50 1
Php 11,000 – Php 15,000 2 10 3
Php 16,000 – Php 20,000 1 6 4.5
Php 20,000 above 1 6 4.5

TOTAL 18 100
Figure 1
Distribution of Respondents in terms of Monthly Net Sales
Sales Below Php 6,000

6%
6% Php 6,000 - Php
28% 10,000
10% Php 11,000 – Php
15,000
Php 16,000 – Php
20,000
Php 20,000 above
50%
26
Table 1 presents the distribution of the respondents in terms of their monthly
net sales. This also shows the sales bracket used by the researchers as one of the
variables of this study. Overall, the sales bracket of Php 6,000- Php 10,000 has
ascendancy over the sales bracket of below Php 6,000, Php 11,000-Php 15,000, Php
16,000-Php 20,000 and Php 20,000 above for 28%, 10%, 6%, and 6% respectively.
It can be noted from the table that 50% of the respondents earned Php6,000–
Php10,000 a month which got the highest frequency of 9 out of 18 respondents. It
can be concluded from the table above that most of the stall-owners did not make
enough sales in their business. Also, because of too many competitors they cannot
generate more profit or sales.
It was supported by Roever (2014) as he stated that street trade can offer
viable livelihood, but earning are low and risk are high for many vendors. Also,
according to IEMS (2012) the rising prices and increased competition were still
affecting the sales of street vendors like night market stall-owners. More competition
means vendors take home lower earnings.
2. Level of Awareness on Accounting Process of Night Market Stall-Owners
2.1 Recording
Table 2.1 represents the level of awareness on accounting process of the
respondents in terms of recording where most of the respondents are slightly aware
with the statements presented having composite mean of 2.34.
27
Table 2.1
Level of Awareness on Accounting Process of the Respondents in terms of

Recording
2.1 Recording WM VI R
1. Using accounting ledgers in recording the 2.44 Slightly 1.5
transaction. aware
2. Recording each transaction on a daily basis. 2.38 Slightly 3
aware
3. Recording business transaction in chronological 2.33 Slightly 4
order in a book/ accounting book. aware
4. Recording the month and date of transaction. 2.44 Slightly 1.5
aware
5. Identifying accounts such as an asset, liability, 2.11 Slightly 5
expense, and revenue to be recorded. aware
Composite Mean 2.34 Slightly aware
Generally, the respondents involved are slightly aware on the accounting
process when it comes to recording with a composite mean of 2.34. This result can
confirm that some of stall owners of night market do not know well how to record their
accounts.
Based on the result, the question that gained the highest weighted mean of
2.44 which are using accounting ledgers in recording the transaction and recording
the month and date of transaction. In recording, small business may use manual or
automated accounting ledgers in their business operations. Manual accounting
requires business owners to maintain several paper ledgers for recording financial
transaction (longnecker, Byrd, & Megginson, 2009). Also, according to Peavler
(2017) when small business made transaction, they record it to their journal and the
owner know what account is being affected by it. In this case, some respondents are
slightly aware of doing this because according to them they do not usually record the
month and date of their transaction in accounting ledgers. And it is supported by King
28
and Mcgrath (2010), that many business owners don’t make things like that because
of time consuming reason.
Recording each transaction on daily basis gained the third rank with the
weighted mean of 2.38 and verbal interpretation of slightly aware. Second to the
lowest rank is recording business transaction in chronological order in a
book/accounting book with weighted mean of 2.33 and verbal interpretation of slightly
aware.
The statement that gained the lowest weighted mean of 2.11 is the identifying
accounts such as an asset, liability, expense, and revenue to be recorded. Even
though it is the lowest weighted mean, it still got verbal interpretation of slightly
aware. According to the respondents, they don’t usually identify the accounts to be
recorded. For them, as a stall owner or small business owner they don’t really need
necessary explanation in their business transaction because the one thing they
consider is the size of their business. Just like above information mentioned, some
respondents think that it is a time consuming in a small business in a night market.
29
2.2 Classifying
Table 2.2

Classifying
2.2 Classifying WM VI R
1. Classifying whether the items are; assets 2.33 Slightly 4.5
accounts, liabilities accounts, capital accounts, Aware
revenue accounts, or expense account.
2. Arranging transaction and events properly. 2.33 Slightly 4.5
Aware
3. Classifying sales as income or receivable. 2.55 Aware 2
4. Classifying the accounts that is being affected by 2.44 Slightly 3

the transaction Aware
5. classifying expenses as personal or business 2.61 Aware 1
matters.
Composite Mean 2.45 Slightly Aware
Table 2.2 represents the level of awareness on accounting process of the
respondents in terms of classifying where most of the respondents are slightly aware
with the questions presented having composite mean of 2.45.
Based on the result obtained in Table 2.2, the highest weighted mean
was 2.61 with the verbal interpretation of aware which means that the respondents
are careful in classifying expenses as personal or business matter. According to
some respondents it is a good idea to keep separate business and personal
accounts as this makes easier to keep records. It is supported by the article from the
internet that states that the business should include the money used to pay personal
expenses in business income when the business earned it. Also, according to
Zimmerman (2018), when starting a business, it’s important to keep your business
finances separate from your personal finances particularly when it comes to
expenses.
30
Next is that the respondents classify sales as income or receivable with the
weighted mean of 2.55 and verbal interpretation of aware. The respondents are strict
when it comes to their sales because it is possible that they can have a loss rather
than a profit if they will not monitor their sales. According to them it is essential to
know the money that their business earns from doing transaction with customers as
well as to classify sales as income or receivable. This is in line with the study of
Dimaunahan, Parsaligan and Ylgan (2017) entitled “Assessment on the Accounting
Process of Shops in Batangas City” wherein they also found out that their
respondents always review and monitor customer’s account balance regularly.
Classifying the accounts that is being affected by the transaction gained the
third rank with the weighted mean of 2.44 and verbal interpretation of slightly aware.
On the other hand, the lowest weighted mean was 2.33 which means that the
respondents are slightly aware of whether the items are assets, liabilities, capital,
revenue, or expenses. This means that the respondents do not regularly classify
separate accounts because the respondents have no time to classify each of
accounts and they do not know how to practice it properly due to lack of time and
knowledge.
To support the study, Arganda, Cardenas-Atis, and Del Rosario (2013), cited
that in classifying phase, items are sorted and grouped. Similar items are classified
under the same name. They may be classified as asset account, liability account,
capital account, revenue accounts and expense accounts.
31
2.3 Summarizing
Table 2.3 presents the level of awareness on accounting process of the
respondents in terms of summarizing where the respondents are slightly aware with
the statements presented having composite mean of 2.19.
Table 2.3

Summarizing
2.3 Summarizing WM VI R
1.Summarizing the recorded and classified data 2.33 Slightly 2.5

through financial statements. Aware
2. Preparing financial statements showing the 2.38 Slightly 1
financial condition of the business. Aware
3.Updating and adjusting entry accounts that is 2.33 Slightly 2.5
necessary at the end of the year Aware
4. Preparing adjusted trial balance after 2.11 Slightly 4
adjustments. Aware
5.Summarizing data through posting related 1.83 Slightly 5
transaction. Aware
Generally, the respondents involved are slightly aware on the accounting
process when it comes to summarizing with a composite mean of 2.19. This result
can confirm that some of stall owners of night market do not know well how to
summed up their accounts.
The highest weighted mean was 2.38 which means that the respondents are
slightly aware in preparing financial statements showing the financial condition of the
business. The researchers concluded that even though the respondents are just
slightly aware they are still giving importance on preparing and summarizing financial
statement. To support the study, William (2010) states that summarization of financial
32
data is achieved through the preparation of financial statements or financial reports.
These usually summarize the effects of all business that occurred during some
period.
Next to the highest weighted mean have 2.33 showing that the respondents
are slightly aware in summarizing the recorded and classified data through financial
statement and updating and adjusting entry accounts that is necessary at the end of
the year.
On the other hand, the lowest weighted mean was 1.83 which means that the
respondents are slightly aware when it comes to summarizing data through posting
related transaction. It is because, according to some respondents, they are not
familiar with posting and they don’t know how to apply it in their business.
2.4 Interpreting
Table 2.4

Interpreting
2.4 Interpreting WM VI R
1. Interpreting the reliability of information. 2.33 Slightly 4

Aware
2. Predicting future prospects of the business. 2.66 Aware 1
3. Making meaningful conclusions based on the analysis of 2.61 Aware 2

4. Causing decrease of an item are being pinpointed based 2.55 Aware 3
on analysis.
5. Using principal tools in the analysis of the financial 2.16 Slightly 5
statement such as common-sized, comparative, and ratio Aware
analysis.
33
Interpreting requires reviewing, measuring or correcting and adjusting the
recorded information and communicating the processed information to management
and other users in the form of financial reports or financial statements.
Based on the result obtained in the table above, generally, the respondents
claimed that they are slightly aware of the accounting process in terms of interpreting
phase. It has gained a composite mean of 2.46.
The highest weighted mean was 2.66 showing that respondents are aware in
predicting future prospects of the business. The researchers found out that most of
the respondent practice forecasting the prospect of the business for them to be
aware to the circumstances that they might experience and for decision-making
purposes. It is supported by Nicolau (2009), that the main purpose of accounting in
the decision-making process as the understanding of accounting information
contributes to better decision. Hence, by reporting and collecting accounting
information controllers can influence management decision-making and lead them
towards decision that are in accordance with organization objectives.
However, the lowest weighted mean just had 2.16 with the verbal
interpretation of slightly aware on using principal tools in the analysis of the financial
statements such as common-sized, comparative, and ratio analysis. Second to the
lowest got 2.33 weighted mean with the same verbal interpretation in interpreting the
reliability of information. Meanwhile, the rest of the statements had a verbal
interpretation that the respondents are aware.
3. Propose programs to improve the awareness on accounting process of stall-
owners of night market in Taal, Batangas.
34
Chapter V
SUMMARY, FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
This chapter presents the summary, findings, and drawn conclusion based on
the information gathered from the study. Likewise, the suggestion of the researchers
in accordance with the results of investigation shall serves as the study’s
recommendation.
Summary
This study was conducted to ascertain the level of awareness on accounting
process of night market stall-owners in Taal, Batangas as assessed by the night
market stall-owners.
Specifically, it sought to answer the following questions:
1. What is the profile of the respondents in terms of their monthly net sales?
2. What is the level of awareness on accounting process of the respondents in
terms of :
2.1 Recording;
2.2 Classifying;
2.3 Summarizing; and
2.4 Interpreting?
3. Based on the findings of the study, what programs may be proposed to
improve the awareness on accounting process of stall-owners of night market in
Taal, Batangas?
In this study there were twenty (20) registered food vendors of night market
stall owners will be involved in this study. The descriptive method of research was
employed and the questionnaire was the main data gathering research instrument
35
utilized by the researchers. The frequency or percentage, and weighted mean were
the statistical tools applied in treating the data.
Findings
The following significant findings were revealed in this study:
1. The researchers find out that most of the stall-owners earned Php 6,000-
Php 10,000 a month with the frequency of 9 out of 18 respondents and a
percentage of 50%.
2. Based on the findings the respondents involved are slightly aware on the
accounting process when it comes to recording, classifying, summarizing, and
interpreting with a composite mean of 2.34, 2.45, 2.19 and 2.46 respectively.
3. The researchers find out that stall-owners have an idea about accounting
process but due to lack of knowledge about they were unable to practice it regularly.
In addition, the findings showed that majority of the respondents are experiencing
difficulty in adjusting and recognizing elements of accounting. On the other hand,
stall-owners are aware of developing and managing business but are less aware in
evaluating and analyzing profitability based on prepared financial statement.
The proposed programs will help the stall-owners to improve their awareness
on accounting process.
Conclusion
Based on the result, the following conclusion were drawn:
1. The researchers conclude that the highest monthly net sales of night
market stall-owners are from the bracket of Php 6,000- Php 10,000.
2. Night market stall-owners are slightly aware on the accounting process.
36
3. Proposed programs was presented to improve or enhance accounting
process of night market stall-owners.
Recommendation
Based on the findings and conclusion drawn from the study, the following
recommendation were offered:
1. Night market stall-owners should monitor their monthly net sales to know if
their sales increases or decreases.
2. Night market stall-owners whatever their monthly net sales must give
importance to this kind of research specifically on the accounting process for them
to gain and improve their knowledge for their business.
3. it is necessary for stall-owners to keep their records timely and accurately
for decision making purpose in their business.
4. They should know how to identify elements of accounting such as asset,
liability, expense, and revenue to be recorded.
5. They should implement proposed programs to improve managing their
business and their level of awareness on accounting process.
37
APPENDIX A
Cover Letter
38
HON. FULGENCIO I. MERCADO
Municipal Mayor
Taal, Batangas
Sir,
Greeting of Peace!
We are ABM students of Taal Senior High school currently conducting
a research entitled “Level of Awareness on Accounting Process and its
effect to the Net Sales of Night Market Stall-Owners in Taal, Batangas” in
partial fulfillment of the requirements for III.
Corollary to this, we are asking for your assistance and approval in
allowing us to get the list of registered stall owners in night market Taal,
Batangas.
Rest assure that any information given will be used exclusively in this
research and will be treated with outmost confidentiality. Any help that you will
extend to us will be highly appreciated.
It is hope that this request will merit your utmost consideration and
approval.
Thank you very much!
Very truly yours,

Myra A. de Leon
Angelica D. villostas
Rondel T. Casabal
Reymar T. Caraan
Mark Laurence Manjares
Researchers
Noted by:
Ms. Diana Lyn Habungan
Teacher – Practical research II
Approved by:
Dr. Babylyn C. Gonzalvo
Assistant Principal of Taal Senior High School
39
APPENDIX B
Survey
Questionnaire
40
Dear Respondents,
Good day!
We are grade 12 ABM students from Taal Senior High School and presently
conducting a study entitled “Level of Awareness on Accounting Process of
Night Market Stall-Owners in Taal, Batangas”. In this regard, we considerately
request you to please accomplish the questionnaire below.
Your cooperation will be a great help for the realization of this study. Rest
assured that your responses will be treated with the utmost confidentiality and will
be used for this research only.
Thank you and God bless!

The Researchers____
Direction: Please accomplish this questionnaire carefully and honestly by putting a

check mark (/) on the appropriate boxes that corresponds to your answer. Rest
assure that any information that you supply will be treated with greatest
confidentiality and anonymity.
Name: _____________________(Optional)
1. Profile of the respondents in terms of their monthly net sales

( ) Below Php 6,000
( ) Php 6,000 – Php 10,000 ( ) Php 16,000 – Php 20,000
( ) Php 11,000 – Php 15,000 ( ) Php 20,000 above
2. Level of Awareness on Accounting Process of Night Market Stall-Owners in

Taal, Batangas
Direction: Here are some statements which describe the awareness on accounting
process of night market stall-owners. Kindly put a check on the appropriate numbers
that corresponds to your choice provided the four-rating scale given below.
Scale 4- Strongly Aware 2- Slightly Aware

3- Aware 1- Not Aware
3.1 Recording- process of systematically maintaining a 4 3 2 1

record of all economic business transaction after they
have been identified and measured. It involves the
selection and analysis of transaction and events that need
to be recorded.
1. Using accounting ledgers in recording the transaction.
2. Recording each transaction on a daily basis.

3. Recording business transaction in chronological order in
a book/ accounting book.
4. Recording the month and date of transaction.
5. Identifying accounts such as an asset, liability, expense,
and revenue to be recorded.
41
3.2 Classifying- involves ascertaining whether the 4 3 2 1
transaction or event has affected the accounting elements
and sorting out which accounting elements has been
affected. The accounting elements or more commonly
known as accounts, assets, liabilities, capital, income,
costs, and expense are used.
1. Classifying whether the items are; assets accounts,
liabilities accounts, capital accounts, revenue accounts, or
expense account.
2. Arranging transaction and events properly.
3. Classifying sales as income or receivable.
4. Classifying the accounts that is being affected by the

transaction
5. classifying expenses as personal or business matters.
3.3 Summarizing- involves the grouping of related data 4 3 2 1

pertaining to each account. The amounts of changes in
each account are summed up and the balance or
difference between increase and decrease is determined.
1.Summarizing the recorded and classified data through
2. Preparing financial statements showing the financial
condition of the business.
3. Updating and adjusting entry accounts that is necessary
at the end of the year
4. Preparing adjusted trial balance after adjustments.
5. Summarizing data through posting related transaction.
3.4 Interpreting- requires reviewing, measuring or 4 3 2 1

correcting and adjusting the recorded information and
communicating the processed information to management
and other users in form of financial reports or financial
statements.
1. Interpreting the reliability of information.
2. Predicting future prospects of the business.

3. Making meaningful conclusions based on the analysis
of financial statements.
4. Causing decrease of an item are being pinpointed
based on analysis.
5. Using principal tools in the analysis of the financial
statement such as common-sized, comparative, and ratio
analysis.
42
APPENDIX C
Bibliography
43
Bibliography
A. Books
Aduana, N. (2009). “Introduction to Financial Accounting: Preparation, Presentation,

Analysis & Interpretation of Financial Statements,” C & E Publishing Inc.
Alhubaity, K. &. (2009). “Accounting Information System,” 13th Edition.
Arganda, e. a. (2011). “Accounting Principles 1,” 4th Edition. National Bookstore.
Ballada, W. (2012). “Basic Accounting: Made Easy,” 17th Edition, Sampaloc, Manila,
Suite 203 KB Arizona Tower.
Ballada, W. (2014). “Basic Accounting,” Dynasty Book Source of Asia.
Cabrera, M. (2015). “Management Consultancy: Principles and Engagements,” 2015

Edition, Manila, GIC Enterprises & Co., Inc.
Ebusca & Lopez. (2009). “Book keeping for Serving and Merchandising Firms: An
Introduction to Accounting,” Rex Bookstore, Manila, Philippines.
Elliot, B. &. (2008). “Financial Accounting and Reporting,” 10th Edition.
King K. and McGrath S. (2010). “Globalisation, Enterprise and Knowledge:

Educational Training and Development - Internation Review of Education,”
Vol.50.
Longnecker, B. a. (2009). “Small Business Management: An Entrepreneural

Emphasis,” 13th Edition, Irwin McGraw-Hill, Boston.
Meings, R. a. (2010). “Accounting for Business Decision,” 10th Edition, McGraw-Hill

Inc.
Nenita, R. a. (2012). “Intermediate Accounting based on IFRS,” Millenium Books, Inc.
Nicolau. (2009). “The corporate Governance and the Internal Audit”.
Saunders, M. e. (2009). “Research Method for Business Students,” 3rdEdition.
Tracy. (2011). “Accounting for Dummies,” Wiley Publishing.
Valix. (2013). “Theory of Accounts,” GIC enterprise and Co. Inc., Manila, Philippines.
Williams, J. (2010). “Financial and Managerial Accounting: The Basis for /Business
Decisions,” 5th Edition.
44
Williams, J. H. (2013). “Financial Accounting,” McGraw-Hill Education.
B. Journals
Chloe, J. (2012). “The Effects of User Participation on Design of Accounting

Information System, Management and Social Sciences Research,” Vol. 1.
Hubber. (2012). “A theory of the Effects of Advanced Information Technologies on

Organizational Design, Intelligence and Decision Making,” Articles
International Journal of Management and Social Sciences Research, Vol.
International Monetary Fund. (2013). “Finance and Development”.
Keimer, A. (2012). “Uses of Accounting and Limitations of Financial Accounting,”

Gupta Platinum Enzime Articles International Journal of Management and
Social Sciences Research, Vol. 1.
Khaliah, Z. (2010). “Walking through Night Markets: A study of experiencing

everyday urban culture,” 11th International Joint Work Cultural Tourism
Conference, Hangzhou, China.
Mendoza, R. (2014). “Accountancy Service requirements of Micro, Small and

Medium Enterprises in the Philippines,” International Journal of Business,
Economics and Law, Vol. 4.
Musa, A. &. (2014). “Record Keeping and the Bottom Line: Exploring the relationship
between Record Keeping and Business Performance among Small and
Medium Enterprises (SME’s) in the Tomate Metropolis of Ghana Research
Journal of Finance and Accounting".
Rathnasiri, V. A. (2014). “Financial Reporting Practices of Small and Medium

Enterprises in Sri Lanka,” South East Asia Journal of Contemporary
Business, Economics and Law.
C. Thesis and Dissertation
Dawuda, A. &. (2015). “Financial Records Keeping Behavior of Registered Small

Scale Businesses,” Bolgatanga Municipality.
Jean, C. M. (2015). “Assessment on the Accounting System of Micro Business

Enterprises in Batangas City,” Batangas State University, Batangas City.
45
Lacson, E. (2015). “Effectiveness of Accounting System of Bataan Polytechnic state
College”.
Lim, S. (2013). “Impact of Information Technology on Accounting Systems,” A case

study of Techiman Municipality of Ghana.
Maguindayao, M. M. (2014). “Assessment on the Accounting System, Operation and

Financial Management of Home-based Retail Business in Batangas City,”
Batangas State University, Batangas City.
Mwangi, B. W. (2011). “Accounting System in Small and Micro Enterprises in Kenya”.
Valcorza, P. (2008). “Level of Implementation of the Accounting System and Control

Procedures of selected Non-Stock savings and Loan Associations in Metro
Manila,” De La Salle University, Manila.
D. Electronic Sources
Bluest, K. (2010). “Bookkeeping Classification of Accounts”, Retrieved from

http://smallbusiness.chron.com/bookkeeping-classsification-accounts-
55431.html.
https://bizfluent.com/info-8160831-basic0phases-accounting-html. (n.d.).
https://www.accountingtools.com/articles/2017/5/17/debits-and-credits. (n.d.).
https://www.prsgroup.com/?quicklink_blocks=international-country-risk=guide-i.
(n.d.).
Russell, (2016), “SMEs still rely on pen and paper,” Economia.icaew.com . (n.d.).
www.ncert.nic.in (Analysis of Financial Statement). (n.d.).
46
APPENDIX D
Curriculum Vitae
47
DE LEON, MYRA A.
Caysasay, Taal, Batangas
Contact No.: 0936-909-2231
Email Address: myradeleon0422@gmail.com
EDUCATIONAL BACKGROUND
Secondary : Taal Senior High School

Accountancy, Business and Management
G. Marella St. Poblacion Zone 2, Taal, Batangas
2018 - present
Taal National High School

Calle Ilagan St. Taal, Batangas
2016-2017
Primary : Aguedo Lota Asinas Memorial Elementary School

Caysasay, Taal, Batangas
2012 - 2013
WORKING EXPERIENCE
Work Immersion (80 hours)
Polymedic Hospital and Medical Center
Diversion Road, Taal, Batangas
July 18, 2018 – August 01, 2018
TRAININGS & ORIENTATIONS ATTENDED
Scholarship Information Hub Orientation

Taal Senior High School
September 05, 2018
Work Immersion Seminar: A Value-Added Activity

HONORS AND AWARDS
With Honors
Conduct Awardee
Perfect Attendance Awardee
G. Marella St. Poblacion Zone 2, Taal, Batangas
With Honors
Taal National High School
48
Calle Ilagan St. Taal, Batangas
PERSONAL BACKGROUND
Nickname : Myra
Birthdate : August 04, 2000
Birthplace : Caysasay, Taal, Batangas
Age : 18 years old
Sex : Female
Civil Status : Single
Religion : Roman Catholic
Nationality : Filipino
Father’s Name : Arnulfo De Leon
Mother’s Name : Juana De Leon
CHARACTER REFERENCE
Dr. Babylyn C. Gonzalvo

Asst. Principal, Taal Senior High School
0977-817-1136
Mr. Paulino M. Comia

Curriculum Year Head
0916-631-0162
Mr. Ronald O. Berena

Class Adviser
0977-801-0365
Ma. Pamela Canua

Work Immersion Training supervisor
0916-296-6520
I hereby certify that the above information given are true and correct as to the
best of my knowledge.
_________________
MYRA A. DE LEON
Applicant
49

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Chapter I

THE PROBLEMS AND ITS BACKGROUND

Setting up an accounting process is important because it provides

at a glance where it stands and how it is performing financially. Startups or small

business enterprise is to provide management with information necessary for efficient

operation of the business.

Business is any activity undertaken by man whereby he seeks to make

expectation of profits should be potentially greater than the expectation of losses.

The primary goal in putting up a business is to earn a profit. To earn a profit,

the results of an organization’s economic activities, as well as the information needed

in making economic decisions.

businesslike day markets. They are typically open-air markets. It is a grouping of

classifying, summarizing and interpreting; and practices which can helps to

determine their profits. It gathers data, assimilates, measures, and communicates

small or large business as far as money is involved, accounting is required to

account for it.

The owners of any kind of business should be aware of using accounting

in making economic decisions.

The researchers conducted this study to determine the level of awareness on

awareness of stall owners.

This study was conducted to ascertain the level of awareness on accounting

process of night market stall-owners in Taal, Batangas as assessed by the night

Specifically, it sought to answer the following questions:

2. What is the level of awareness on accounting process of the respondents in

2.3 Summarizing; and

3. Based on the findings of the study, what programs may be proposed to

improve the awareness on accounting process of stall-owners of night market

INPUT PROCESS OUTPUT

Profile of the respondents

of awareness on accounting process of night market stall-owners in terms of;

recording, classifying; summarizing, interpreting while in the process contain survey

of awareness on accounting process of night market stall-owners.

Scope and Limitation of the Study

of night market stall-owners in Taal, Batangas. The researchers want to determine

wanted to measure the awareness of stall-owners on accounting process. The

night market stall-owners in Taal, Batangas.

Significance of the Study

This study is focused on the level of awareness on accounting process of

can impart knowledge and determine its important to the following.

To the business. The knowledge of the business man/ woman about

To the students. This can be a source of information specifically those who

understanding regarding accounting process.

serve as additional literature on the process of accounting

To the researchers. This will enrich their knowledge on the application of

abilities in conducting critical research and teamwork.

related literature for the research study of similar nature.

operationally for better understanding.

Accounting. This is defined as a service activity, its function is to provide

quantitative information primarily financial in nature about economic entity that is

intended to be used in making economic decisions (Ballada, 2014). In this study, it is

efficient operation of business.

Accounting Process. This is defined as the art of recording, classifying,

Classifying. This is defined as the sorting or grouping of similar and

interrelated economic transactions into their respective classes (Williams, 2013). In

presented in the financial statements and accompanying notes (Aduana, 2014). In

the evaluation of the reported information.

Night Market. This is defined as the grouping of temporary outdoor stalls

than more business-like day markets.

Recording. This is defined as the process of systematically maintaining a

business transactions and events daily.

of a street to set up their stalls.

Summarizing. This is defined as the preparation of financial statements