MANAGEMENT AND ACCOUNTING PRACTICES IN SAMBOANS’ TOURISM KEYWORDS:

Management, Accounting Practices and Tourism

RATIONALE

Tourism is one of the oldest human activities appeared in different forms at different

times. Although its size, level and reason were different from what can be seen today,

but it has long been as a human activity and human interaction with the environment

and its relationship. When in Manila, putting together a list of the top waterfalls in the

Philippines proves to be much harder than expected. Not due to a lack of options, but

rather because the choices of natural falls in the country that are both impressive and

accessible to us are countless. A reminder that “It’s more Fun in the Philippines” has

much to do with the innumerable wonders of nature found locally.

The infamous town of Southern Cebu in Samboan is dotted with numerous waterfalls

that rival each other in terms of grandness or uniqueness. The three most popular

waterfalls are Aguinid Falls, Binalayan Falls, and Dao Waterfall. The town is not only

known as a gateway between the islands of Negros and Cebu but also for hosting at

least seven waterfalls within its territory. The ongoing development of tourism lead by

government encourage researchers to undergo in-depth study towards Samboans’

tourist spots, which would provide high quality data, such as accounting practices,

management strategies and its impact towards communities’ development. In-depth

study will help management and community to be struck by the reality of its standing,

which if given importance this would aid many unemployed residents to be employed

and help resolve poverty. Tourism industry is important for the benefits it brings and
due to its role as a commercial activity that creates demand and growth for many more

industries. Tourism not only contributes towards more economic activities but also

generates more employment, revenues and plays a significant role in development.

Tourism employs tens of hundreds of people throughout the area. It attracts visitors to

our area who become familiar with our community. Some of those visitors return to buy

investment properties and/or second homes. Others like the area so much, they decide

to relocate or retire here. Through this study, the management and the community must

get into realization that they must focus in improving, revising and adapting accounting

practices and how they manage the tourist spots. The success of a tourist attraction

largely depends on the management team’s ability to efficiently coordinate various

internal and external factors affecting the company’s operations. A successful manager

in the tourism industry has a very responsible role which is wide and varied; therefore

they have to exhibit many skills.

Moreover, accounting practices is highly significant to tourism industry because it

enables you to gain deep insights into the financial status of the business. Using the real

time reporting of financial activities, you are regularly updated about what is going on

with your business. All accounting information is established as an essential means for

the preservation and exact management of any business economic resources. However,

the necessity which issues from the administration, for distinguished management of the

available resources, incalculable expenses, limitation and evasion of misconduct,

imposes accounting as an aid in the tourism business management effort. Generally

speaking, accounting plays a vital role in society. As a branch of economics, it provides

information about a firm and its transactions to facilitate resource allocation decisions by

users of that information (Choi and Meek, 2005).

The purpose of the researcher is to address the current gap standing of Samboan’s

tourism towards other tourist attraction in terms of accounting practices and its

strategies applied in management. This would also enlighten their minds to evaluate

the effectivity of the practices implemented for the past years and reconsider some

revision for tourism enhancement. On the other hand, former unattended plans will be

given time for scrutiny if ever it brings benefits for the well-being of the community.
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http://www.tourismworksforus.com/benefits/default.html#:~:text=Tourism%20boosts

%20our%20economy%2C%20employs,each%20of%20us%2C%20every

%20day.&text=Tourism%20funds%20operating%20expenses%20and%20infrastructure

%20in%20our%20local%20public%20education%20system.

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siness.pdf

https://www.skylineuniversity.ac.ae/pdf/tourism/Tourism%20Impacts.pdf