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Chapter 1
and uses finance for its various activities. The business organizations
are set up primarily for profit making like banks, companies and other
accounting records.
NPOs are now being faced with the problem of finance, the
inadequacy of funds to carry outs their services. Most of the NPOs are
but these seem not to meet up its financial demand. For good
how these were managed and controlled has led to the topic of the
affairs and to carry out its daily obligations. The funds are not
determine the financial income being used, whether there are proper
record keeping, the financial decisions and reporting made and the
There arises the need for the NPOs to keep track of its financial
statements?
3
Research Questions
1. What are the challenges NPOs face in their recordkeeping?
2. How do NPOs cope with the challenges encountered in
recordkeeping?
and financial structure. Therefore, if proper records are kept they will
performance.
time.
Financial Recordkeeping
Identification
Classification
Recording
Storage and protection Thematic Analysis
Retention of records
for preparation of financial
statements
6
procedures makes good sense. Doing so helps ensure the staff and
sustainable for the long term and continue to fulfill its mission.
Definition of Terms
that donors are certain their contributions have been used effectively.
Chapter 2
related to the present study. Articles are taken from books, internet,
and other resources that will support the findings of the study.
4500BC, to levy and collect taxes and records the receipts and
keeping. Before the advent of writing, man could talk and could
18th century, which brought about ample growth in the world trades
accounting and record keeping. There is great need for effective and
interested parties especially for showing how the resources are utilized
(Okpe, 1988:1).
render services and not to make profits the objectives of most non-
each year as their financial and other resources permit. They typically
uses of working capital, budget status and cash flow rather than on
net income or earning per share”. There is no profit motive and there
cash assets. The use of funds is restricted when given by donor for
pool, the proceeds from the assessment will be set in a restricted fund
1976)
in the objectives for recording the date and because of legally binding
(Harry, 1993).
organizations.
receive funds for which they must maintain accountability. This takes
certain that the specific requirements on the donor are carried out.
auditing agents are requiring that the organizations they audit follow
keeping affects not only the internal aspects of the organization but
about what the organization may owe or is owed during a given period
(Wolf, 1990).
all committed income and expenses, whether or not they have been
actually received or paid, are entered in the books. Most people are
17
of recording not only what has been purchased and paid for but also
organization may not actually have the money in their account but
will receive the money at a later date and therefore can record the
same fashion as accounts payable and will reflect the actual amount
owed at a given time and will include all activities of the organization
not just cash transactions. The accrual basis classifies revenues and
which the bill is paid, but also more importantly, the period in which
this system, the books are kept on a cash basis except for a few
18
accounts that are kept on accrual and that are usually updated only
five questions: What personnel are responsible for each duty? What
organization must also look at the size and scope of the organization’s
health and portrays this health through their records. (Wolf, 1991)
goals and objectives for the community it serves, rather than to realize
a net profit.
chooses to collect them; and smaller nonprofits can choose to use the
decision making in the future. The readings will also serve as a rigid
Chapter 3
METHOD
Research Design
(Creswell, 2003).
with the collection and analysis of quantitative data. This first phase
follows from (or connects to) the results of the first quantitative phase.
then collects qualitative data from participants who can best help
subject matter and the context. In our study there are three research
questions and the interview guide will directed and approved by the
Research Subject
this study are the finance administrator of NPOs. When selecting the
study will focused directly from the chosen NPOs in Tagum City.
23
researcher defined the population first, listed down all the members of
(Saunders et al., 2012). This is not our intention with the study but
Research Instrument
guide questions will be used in order to gather the relevant data. The
the study. There is only one (1) set of questionnaire that will be use in
statements
Gathering the data needed of the study follow these steps and
procedures:
draft of the said instrument will be read and checked by the adviser.
This will be submitted to the panel of members for validation and then
Data Collection
collection of data was pin patterned to the five steps given by Creswell
(2007).
conduct the study from the seven (7) finance administrators of NPOs
their involvements in the study were voluntary and that if they do not
feel like answering the question, they could withdraw anytime from
committee and the flow of the interview. Upon the permission and
all participants were oriented that the interview will be recorded and
each of them were given a copy of the interview guide. Matters like
identity and personal information will keep and treated with utmost
confidentiality.
participants will be given his choice to select his most convenient day,
to individuals.
Statistical Treatment
Analysis of Data
1998).
Before the data is analyzed, all the data gathered in the survey will
analyzed carefully.
complex and fine detail and at the same time, not to dismiss the
analysis.
2007; Paul, 2006; Suter; 2012). This mix and filtering of information
charts, graph, that would empower the viewer to make his conclusion
viewer. At this stage, other higher order classes could turn out beyond
those discovered during the first phase of data reduction (Namey et al,
point, no authoritative judgments were made yet but rather, the data
sensible. We also came to correlate the result of the study with the
Trustworthiness
30
Shenton, 2004).
build confidence in the truth of the findings. Credibility deals with the
question how congruent are the findings with reality (Merriam, 2009;
Shenton, 2004).
and significant to the issue under inquiry, then everything that will be
recorded and will be written without cut (Miles et al., 2013; Shenton,
2004).
of the research steps taken from the start of a research project to the
2013).
32
verification. Prior to that, we will make sure that the informants will
they have provided during the interviews and that our interpretations
of the data are shared with the participants, and they have the
Ethical Consideration
ensure their safety, give full protection so that they will not lose their
on the purpose and objectives of the research study that they are
going to involve. Written consent will provide for them to get their
33
approval. After getting their nod, they have actively participated the
them. Anonymity of the interviewee will kept in order not to put each
destroyed after the data were being analyzed. Some of the informants
careful and with our questions and due respect will give importance to
endeavors. They were not able to spend any amount during the
34
their efforts on the study. We hope that through this study, they will
be set free into whatever negative experiences they had as they teach
2006).
35
Chapter 4
PRESENTATION AND ANALYSIS OF FINDINGS
overall mean for the level of Financial Record Keeping is 4.42, with a
Table 1
Level of Financial Record Keeping of NPOs
36
Legend:
4.30 – 5.00 Very High
3.50 – 4.20 High
2.70 – 3.40 Moderate
1.90 – 2.60 Low
1.00 – 1.80 Very Low
37
financial record keeping. This means that the NPOs in Tagum City
have possessed more of this skill than the other four determinants in
know which ones to retain and for how long. It can help organizations
After the result of the survey was analyzed, the interview was
NPOs.
Tagum City.
38
Table 2
“Kanang dili man jud kaau ingon nga dagko nga kwarta
among gina gunitan dre. Kana lang mga makalimot ug
resibo sa mga paliton kay usahay nay uban dili mag hatag
ug resibo labi na gamay ug kantidad labi na sa sari-sari
store.” (IDI 2_1.3)
future years.
income, and liabilities. This lets you see the strengths and weaknesses
and forecasting. Goals and objectives that are created with accurate
There are times that the actual cash do not coincide with
our records. Sometimes we have cash shortage and there
also times that, we have cash overage but it’s not at all
times.
have their own set of rules and guidelines which they follow and
“Unsa mana sya? …Ahhh. Wala man jud mi gna sunod nga
accounting framework. As long as ang tanan transaction
namo kay properly done lang jud. Mao jud na pinaka
importante sa tanan.” (IDI 2_1.1)
Table 3
from the rules set and enforce. They define your organization and give
47
with the law. Those rules also help everyone in the organization
and can help make effective decisions faster, than when done alone.
Commitment to work
your best self. It is also means always tries to do better, reach farther
and aim higher and willing to push through to achieve the collective
Chapter 5
Summary
The main purpose of this study was to know about the financial
After the result of the survey, the interview was then conducted.
two (2) set of research questions which they answered during our
Conclusions
Recommendations
54
Practices of the SMEs in Tagum City by finding other factors that may
affect it. They may also use other indicators to evaluate the other
City.