ABSTRACT
This study was conducted to introduce the basic concepts of Working Capital Management (WCM) to School Canteen Teachers of Lemery Senior High School. The study specifically aimed to examine the working capital management practices with respect to their cash management, accounts receivable management, inventory management and accounts payable management, as basis for an enhanced school canteen financial reporting during the school year 2019-2020.
A sample of respondents from school canteen teachers participated in the study. Descriptive method was used in this research. Survey questionnaires were distributed to canteen teachers of Lemery Senior High School wherein the convenience sampling was adopted. . The statistical tools used to analyze the data include relative frequency and weighted mean. Likert scale was also utilized.
Findings disclosed that the school canteen teacher’s assessment of working capital management was successful. School canteen teachers’ survey results show that 88% of 1 years’ experience and 81% of College Graduates – Non business related courses are one of the problems in managing the WCM. Furthermore, working capital management like cash flow and accounts receivable management, accounts payable and inventory management greatly affect the liquidity and profitability of school canteen. Intervention programs will be conducted to enhance the knowledge on school canteen teachers on the use of the following financial statements that will give an idea of the results of positive and negative working capital on managing the school canteen fund.
Keywords: Working Capital Management, liquidity and profitability and financial reporting.
INTRODUCTION
The School Canteen is like a Small Medium Enterprise (SME), it requires good Working Capital Management (WCM) practices to provide nutritious and healthy foods and also be financially viable. The school canteen manager plays an active role in managing the day to day operations of the canteen and ensures the importance of working capital and profit to support school expenses of feeding program, clinic, faculty development fund, H.E and additional revolving fund of canteen. “Working capital is the amount of funds necessary to cover the cost of operating the enterprise.” - Shubin.
The canteen teacher’s performance of Lemery Senior High School for the school year 2018-2019 is recognized to be low profit, certain month of income losses and cash problem due to struggling the management of working capital that results to rising cost of serving meals, not affordable price, insufficient funds because of not properly record the cash transaction and proper bookkeeping. Most of the canteen managers inadequately understood the significance of working capital and how they administer in meeting the short term debts and obligations. This study generally aims to improve the performance of canteen teachers by employing the practices of working capital management.
Objectives
The main purpose of this study is to introduce the basic concepts of Working Capital Management (WCM) to senior high school canteen teachers of Lemery Senior High School.
The study specifically aimed to:
1. To examine the working capital management practices with respect to their cash management, accounts receivable management, inventory management and accounts payable management, as basis for an enhanced school canteen financial reporting during the school year 2019-2020
2. To increase the school canteen teachers interest in managing the working capital management.
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