Advisers

Kimberly Joyce B. Embile, LPT, MAT

Discipline

Accounting And Taxation

Abstract

This study evaluated the financial management practices of Facebook-based handicraft microenterprises in Quezon City, focusing on budgeting, cash flow management, record-keeping, pricing and cost control, and financial planning and decision-making. Guided by Financial Management Theory and benchmarking against selected International Financial Reporting Standards (IFRS) principles, the research aimed to examine the respondents’ demographic profile, assess their financial practices, identify challenges encountered, and propose financial guidelines. Using a descriptive quantitative research design, data were collected from thirty (30) Facebook-based microentrepreneurs through a structured survey questionnaire utilizing a four-point Likert scale. Purposive sampling was employed to select respondents actively involved in managing their business finances. Statistical tools including frequency, percentage distribution, weighted mean, and standard deviation were used to analyze the data. Findings revealed that most respondents were young adults aged 20–29, operated their businesses for 1–3 years, and generated monthly sales below PHP 20,000. The overall level of financial management practices was rated high, indicating that respondents generally practiced budgeting, monitored cash flow, maintained records, applied pricing strategies, and engaged in basic financial planning. However, challenges were identified, particularly in sales tracking, reconciliation of multiple payment methods, awareness of platform fees, and separation of personal and business finances. Benchmarking results showed strengths in day-to-day financial control but weaknesses in structured financial reporting and long-term planning. The study concludes that while Facebook-based microenterprises demonstrate acceptable financial management practices, gaps remain in formal financial systems and financial literacy. It recommends targeted financial education, simplified record-keeping tools, and practical guidelines aligned with IFRS principles to improve financial transparency, decision-making, and sustainability among online microentrepreneurs.

Keywords

financial management