Financial risks among private schools during COVID-19 pandemic in selected areas of Cavite / by Melissa L. Cotoner, Leslie E. Elalto and Carl Michael N. Rañon.

Thesis (Bachelor of Science in Accountancy) Cavite State University.

Includes bibliographical references.

College of Economics, Management and Development Studies (CEMDS).

COTONER, MELISSA L., ELALTO, LESLIE E., and RAÑON, CARL MICAHEL N.
Financial Risks Among Private School During Covid 19-Pandemic in Selected Areas of
Cavite. Undergraduate Thesis. Bachelor of Science in Accountancy. Cavite State
University, Indang, Cavite. August 2022. Adviser: Dr. Dolores L. Aguilar.
The coronavirus pandemic in 2020 affected every sector of the economy. Due to the
pandemic economic shock, private schools are under tremendous financial stress; teachers
have reported losing their jobs, having their salaries decreased, or not getting paid at all. Many
private schools have already shut down, and thousands more may soon follow suit. These
changes in the educational landscape pose a severe danger to millions of students' ability to
successfully continue their education. The purpose of the study was to assess the market,
credit, liquidity, and operational risks as well as the variances in financial risks across the
different business profiles of private schools in a few Cavite locations. The methodology of the
study was quantitative. The small and medium-sized private schools that provide primary or
secondary education in a few localities of Cavite, including Dasmariñas, Imus, and Bacoor,
made up the population of the study. Based on Cochran's sample size formula for population, a
sample size of 180 was chosen. The poll was only open to the school's owner or those working
in its financial operations. According to the results, financial risks components were associated
with high risk, which implied that financial risks are unacceptable because the level of risk is
high and the entity has no control over the risk, necessitating immediate action to mitigate
financial risks occurrence. Finally, findings revealed that there is a significant difference in the

financial risks when they are grouped according to their size of business. Meanwhile, non-
significant differences were recorded when tested against years in operation and amount of

capitalization. The authors also advise private schools to keep enough emergency money on
hand to assist staff and faculty needs and to stay out of trouble during pandemics, such as
bankruptcies, temporary closures, and loans from banks. This institution should use the
procedures at its disposal to prevent issues, such as creating pandemic plans, routinely
evaluating, and amending an organizational risk assessment to make sure the risks profile is up
to date, consistent, well-documented, and inexpensive controls to lower financial risks. Financial
dangers should be the subject of more thorough inquiry in the future.

Submitted to the University Library 10/17/2022 T-9106