Financial Management Practices of Selected Resorts in Calamba City

Abstract

The main objective of this study is to determine the Effectiveness of Financial Management Practices of Selected Resorts in Calamba City by assessing in terms of Fund Source, Financial Reporting and Analysis, Accounting Practices, Cash Management and Working Capital Management. The respondents assessed “Effective” in terms of Financial Reporting and Analysis. The study also shows that all aspects of financial management practices in terms of Fund Sources, Financial Reporting and Analysis, Accounting Practices, Cash Management and Working Capital Management when grouped according to years in business operation differed significantly according to the respondent’s perception. Significant differences were also indicated when group in terms of capitalization for Financial Reporting and Analysis and Working Capital Management. Likewise, same as it differ significantly for Fund Sources, Financial Reporting and Analysis, Working Capital Management and Cash Management when grouped by number of branches. When grouped in terms of number of employees, Financial Reporting and Analysis indicated a significant difference.