Accounting system of accounting firms in the province of Rizal calendar year 2016

Thesis BSA University of Rizal System, Binangonan 2017

includes bibliographical references.

This study is primarily focused on the accounting system of accounting firms in the province of Rizal. The respondents of the study were the managers, accountants and other employees who have the knowledge in accounting system used and who can provide accurate and reliable information. The study used descriptive method with questionnaire-checklist as an instrument in collecting data from the respondents. The data were tested with different statistical tools such as frequency, percentage and rank distribution, weighted arithmetic mean, and One-Way ANOVA. Based on the presentation, analysis and interpretation made, the study summarized the following findings: In relation to the profile of the respondents, majority of the respondents belonged to the bracket of young adult. A great majority of them were female and single. Most of the respondents were college graduate with specialization in accounting admin/office staff with a length of service between 1 - 10 Years. In relation to the business profile, majority of the accounting firms were established as single proprietorship and most of them have been in existence for 10 Years and above. Half of accounting firms have an initial capital of Php50,000.00 - Php99,999; almost all of them used owner's capital for their sources of capital and a great majority used combined system and cash basis method. As regard to the perception of the respondents on the accounting system, information quality, system quality, organizational impact and individual impact had a weighted mean of 4.54, 4.54, 4.45 and 4.50 respectively. It means that the respondents "strongly agree" that accounting firms present the information accurately and the accounting system used provides reliable complete information. There was no significant difference on respondents' profile and their perception on the Accounting System of Accounting Firms in the Province of Rizal in terms of age, sex, civil status, educational attainment, position, and length of service. There was no significant difference on business' profile and their perception on the Accounting System of Accounting Firms in the Province of Rizal in terms of Years of existence, initial capital, and sources of capital. However, there is significant difference on their perception on organizational impact in terms of ownership and accounting system. In the variable System Quality, accounting system and accounting method also obtained significant difference. Therefore the null hypotheses on those variables were rejected. The study formulated some recommendations. They should be more vigilant in the recording and preparation of all the reports produced by the accounting systems to avoid material errors, they should have collaborative work in recording accounting events to properly report it in the financial statements. Moreover, they should have a regular evaluation of the performance of each employee. They may continuously participate to seminars and trainings that will enhance their competencies and will keep them updated with regard to accounting principles, standards, procedures and policies.