An action research in eliminating financial report misstatements: Company A as an agent of Company P

Date of Publication

10-25-2018

Document Type

Insider Action Research

Degree Name

Master of Business Administration

Subject Categories

Accounting | Business Administration, Management, and Operations

College

Ramon V. Del Rosario College of Business

Department/Unit

Management and Organization

Thesis Adviser

Maria Paquita D. Bonnet

Defense Panel Chair

Rachel Quero

Defense Panel Member

Jaime Cempron
Pia Redemta Manalastas

Abstract/Summary

The goal of this action research is to ensure that Company A (manning agent) submits a correct financial report to its Principal (ship/vessel owner). The objective of the project is to eliminate errors and incorrect charging to the vessels’ account with regards to the US Visa payments. The action research project applied Lewin’s 3-Stage Change Model as conceptual framework and to manage the change process. The first cycle of this action research addressed the errors through improvement in the recording process of the US Visa payments and creating a float US Visa payment account to monitor all the payments for pending application. The results of the first cycle showed that the team was able to eliminate errors of commission; however, the Finance and Accounting Department encountered difficulties in monitoring the float account. Thus, the team realized that there were still possibilities that an error will arise, the error of omission. The second cycle of this action research includes additional improvement on the new process which is the collaboration of the Operations Department through preparing a deployment report indicating who among the seafarers deployed have been requested and applied for US Visa. In conclusion, the interventions we made in the first and second cycle of this action research enable us to meet the objective of the project. Stories, outcomes and reflections were recorded using the ORJI framework of Schein (1999). Ladder of inference was also used to reevaluate the researcher’s thought. This action research was completed on October 11, 2018.

Abstract Format

html

Language

English

Format

Electronic

Accession Number

CDTG008079

Keywords

Financial statements; System analysis

Embargo Period

7-18-2023

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