Assesment of the impact of non-formal course simplified accounting for entrepreneurs (SAfE) offered by UP Open University of the learners

Date

2026

Abstract

Micro, Small and Medium Enterprises (MSMEs) are the foundation of the Philippine economy, constituting most of its business establishments and primary source of employment. Despite their critical role, the country ranks among the lowest in global financial literacy surveys. This is a significant vulnerability that threatens the sustainability and growth of the businesses. Recognizing that accounting is the language of business, the University of the Philippines Open University (UPOU) offered the Simplified Accounting for Entrepreneurs (SafE) non-formal course. This initiative directly addresses this challenge by equipping entrepreneurs, particularly those with no prior background to understand and manage their business finances. By learning accounting, SafE aims to bridge the gap between financial literacy and the broader business financial practices such as informed decision-making, resilience and long-term business success.

This study assessed the impact of SafE on its learners by measuring the knowledge, attitude and practice (KAP). The research aimed to determine if the retained knowledge of the learners develops their financial self-efficacy which led to improved financial practices. The study employed a mixed method approach, surveying 62 SAfE alumni who are business owners. Data was collected through a structured questionnaire measuring knowledge (retained accounting literacy) which is composed of a 10-point test on accounting concepts accounting cycle, attitude (financial self-efficacy) which is composed of a Likert-scale survey on confidence in performing financial tasks and practice (business financial practices) which is composed of survey on application of accounting knowledge and concludes by an open-ended survey to gather qualitative feedback on the non-formal course’s practical impact. The data was analyzed using descriptive statistics and Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the hypothesized relationships between the constructs.

The demographic analysis indicates that the typical participant is a middle-aged female entrepreneur operating a service type microenterprise, aligning with the goal of SAfE of enagaging key MSME demographics who often lack formal financial education. While assessment results show high success in accounting literacy, the key finding of this study was that knowledge alone is insufficient. For accounting literacy to translate to improved business financial practices, it must be channeled through financial self – efficacy which acts as the essential mediator that turns knowledge into practice. Both quantitative and qualitative evidence confirm this translation into improved business financial practices. Learners provided specific examples such cost cutting, fund allocation, and improved profitability directly attributed to sales.

The study promotes for a collaborative ecosystem approach to MSME development, calling on government, financial institutions and corporations to integrate programs like SAfE into their services and support networks. This strategy aims to bridge the financial literacy gap by promoting practical and application-focused education. Ultimately, these efforts seek to empower MSMEs, making them more sustainable and resilient to drive inclusive economic growth. To strengthen causal inference and more precisely measure the value-added impact, it is recommended that future studies employ pre- and postassessment research design to establish a clear performance baseline and longitudinally track the direct contribution of the non-formal course to changes in learners’ knowledge, attitude and practice.

Document Type

Master Thesis

Degree

Master of Management major in Business Management

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Dinah Pura T. Depositario

Language

English

Location

UPLB College of Economics and Management (CEM)

Notes

Best Business Research 2026

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