Implementation of Bookkeeping Practices in Micro-Enterprises
Keywords:
micro-enterprises, bookkeeping practices, implementation, importanceAbstract
The study determined the implementation of bookkeeping practices of the microenterprises, as well as, the importance of bookkeeping practices in micro-enterprises. This study used descriptive research design utilising survey questionnaire as the method of data collection for the 80 micro enterprises determined through purposive selective sampling. The data gathered were analyzed and interpreted using frequency and percentage distribution for the profile variables, weighted arithmetic mean for implementation and importance, and chisquare test to determine any significant differences between variables. The results revealed that micro-entrepreneurs sometimes implement bookkeeping practices in their business operation and agree on the importance of it as well. Furthermore, their implementation of bookkeeping practices showed a significant difference in terms of the micro-enterprises' type of ownership, years in operation, level of knowledge, and recordkeeping system. Thus, bookkeeping is indeed important in every business operation. Therefore, a seminar-training program on proper bookkeeping for the micro-enterprises' financial sustainability may be conductedReferences
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