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ThAi nguyen University Southern Luzon STATE University Socialist Republic of Vietnam Republic of Philippines THE FACTORS AFFECTING THE ADOPTION OF COST ACCOUNTING SYSTEM OF SELECTED TRAVEL AGENCIES IN HANOI, VIETNAM A RESEARCH PRESENTED TO THE FACULTY OF GRADUATE SCHOOL SOUTHERN LUZON STATE UNIVERSITY LUCBAN, QUEZON, PHILIPPINES THAI NGUYEN UNIVERSITY S.R VIETNAM IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE DOCTORAL IN BUSINESS ADMINISTRATION Name of Student English Name Date of Birth Course : DOAN THI QUYNH ANH : ANGEL : 05/01/1981 : SLSU-DBA1 Hanoi November, 2013 Page ACKNOWLEDGMENT During the conduct of my thesis, I would like to give my sincere thank to advisors: Prof Dr Pete Ooi; Dr Edwin Bernal The advisors help me with detailed guidance and instruction so that I can complete my research Representatives from Southern Luzon State University, ThaiNguyen University, ICT and academic affairs together with teachers and staffs in ICT office has encouraged and helped from all the members in the class When conducting the research, I receive the enthusiastic support and participation of directors and staffs of all enterprises that I have research Beside that, I always receive the encouragement and support form my family I would like to express my sincere thanks to the advisors, staffs participating in the research and my family for supporting me a lot Doan Thi Quynh Anh - Angel Page CONTENTS ACKNOWLEDGMENT TABLE CONTENT LIST OF TABLE LIST OF FIGURES CHAPTER INTRODUCTION CHAPTER II REVIEW OF RELATED LITERATURE AND STUDIES 15 CHAPTER III METHODOLOGY 39 CHAPTER IV RESULTS AND DISCUSSIONS 45 CHAPTER V FINDINGS AND CONCLUSIONS 75 REFERENCES 79 Page TABLE OF CONTENTS Table 3.1 Factors affecting the adoption of the cost accounting system 40 Table 4.1 Respondents’ Age and Gender 46 Table 4.2 Respondents’ Position and Field of Specialization 47 Table 4.3 Perceived Level of Awareness and Understanding of Cost Accounting System 49 Table 4.4 Perceived Ease of Use of Cost Accounting System 52 Table 4.5 Perceived Usefulness of Cost Accounting System 54 Table 4.6 Attitude Toward Adherence to Cost Accounting System inCost Management 57 Table 4.7 Summary Table on Respondents’ Perception and Attitude Towards Adoption of Cost Accounting System 59 Table 4.8 The relationship between the accountants’ and the managers’ perception of their level of awareness and understanding of the cost accounting system in travel agencies Crosstabulation 60 Table 4.9 Chi-Square Tests 62 Table 4.10 The relationship between the accountants’ and the managers’ perception on the ease of use of the cost accounting system in travel agencies Crosstabulation 63 Table 4.11 Chi-Square Tests 64 Page Table 4.12 The relationship between the accountants’ and the managers’ perception on the usefulness of the cost accounting system in travel agencies Crosstabulation 65 Table 4.13 Chi-Square Tests 66 Table 4.14 The relationship between the accountants’ and the managers’ attitude toward use of the cost accounting system in travel agencies Crosstabulation 67 Table 4.15 Chi-Square Tests 68 Table 4.16 Independent Samples Test 70 Table 4.17 Independent Samples Test 71 Table 4.18 Independent Samples Test 72 Table 4.19 Independent Samples Test 73 Page LIST OF FIGURES Fig Classification of cost in travel agencies 31 Fig Conceptual framwork 39 Page CHAPTER INTRODUCTION 1.1 Research Background As Vietnam rides in the development of world economy, its hospitality/tourism industry had gained remarkable leap Demand in a wide-range of hospitality-related products and services increased as people's living standard improved This included products and services in travel services which is one sector in the multi billion-dollar world-wide hospitality industry Products and service in a travel agency are designed to satisfy special needs of consumers such as understanding the culture, tradition and the historical treasures of one locality, appreciating natural beauty of the place, experiencing the climate, foods, events and festivities of the area, and a lot of activities simply designed for sightseeing and for rest and recreation The demand for travel products and services is not very stable as it easily changes due to instability of the climatic condition, and the economic and political situation of the particular tourism destination It therefore requires that players in the travel business to be more creative and innovative to anticipate changes in the business landscape in order to cushion the impact of slack time in the business On one hand, it also requires that industry players fully grasp the characteristics of tourism and travel products to be able to organize business activities that optimally meet the needs of clients and ensure enhanced business performance on the basis of strict cost control It also requires strong organizational skills as well as Page understanding of the upstream and downstream links and costs which are, more often than not, not too easy to quantify as transfers of values take place with the transfer of intangible subject of business transactions While application of sound managerial accounting techniques and concepts is inevitably necessary, all must start from the solid understanding and appreciation of cost accounting and the adoption of appropriate cost accounting system Summarily, determining the cost of products and services in a travel agency poses a great challenge for the firm’s accountants and managers in as much as the business’ price offerings depend largely on the relevant costs Doubly challenging is the implementation of a firm’s policy on cost allocations because this requires a deal of rationalization so as not to overburden one product/service while others overburdened with unnecessary costs This therefore requires the identification and the use of appropriate cost driver to achieved full rationalization of the system Further, to achieve comparative and competitive advantages, it is necessary that, costs associated with the implementation of activities in major business functions along the value chains should be analyzed as to whether these are value-adding or non-value adding costs Obviously, only value adding activities are client-focused activities and therefore add to the achievement of the value expectations of the clients While cost accounting is a necessary requirement to achieve more in the travel business in Hanoi, less has been benefiting fully from it To determine the factors that drive the sector to adopt cost accounting system is the major reason why this research was conducted Page 1.2 Statement of the Problem This research focused on determining the factors which affect the adoption of the cost accounting system of selected travel enterprises in Hanoi Specifically, it tried to find answers to the following research questions: What is the profile of the respondents in terms of gender, age, position and field of specialization? What is the accountants’ and the managers’ perception of their level of awareness and understanding, ease of use, and usefulness of cost accounting system? What factors are significantly affecting the attitude of the accountants and the managers of travel agencies in adopting a cost accounting system? Is there any difference in the accountants’ and the managers’ perception of their level of awareness and understanding, ease of use, and usefulness of cost accounting system? Is there any difference between the accountants’ and the managers’ attitude towards adherence to the cost accounting system in the management of costs in travel agencies? 1.3 Statement of Objectives The general objective of this research was to determine the significant factors affecting the adoption of cost accounting system for Hanoi-based travel agencies It seek to meet the requirements of the following specific objectives: To determine the profile of the respondents in terms of gender, age, position and field of specialization Page To describe the accountants’ and the managers’ perception of their level of awareness and understanding, ease of use, and usefulness of cost accounting system To identify the factors which significantly affect the attitude of the accountants and the managers of travel agencies in adopting a cost accounting system To statistically test the difference in the accountants’ and the managers’ perception of their level of awareness and understanding, ease of use, and usefulness of cost accounting system To statistically test the difference between the accountants’ and the managers’ attitude towards adherence to the cost accounting system in the management of costs in travel agencies? 1.4 Hypotheses The following hypotheses were tested using inferential statistical tools: Hypothesis 1: There is no relationship between the accountants’ and the managers’ perception of their level of awareness and understanding, ease of use, and usefulness of cost accounting system and their attitude towards adoption of the same cost accounting system in travel agencies Hypothesis 2: There is no difference in the accountants’ and the managers’ perception of their level of awareness and understanding, ease of use, and usefulness of cost accounting system Hypothesis 3: There is no difference between the accountants’ and the managers’ attitude towards adherence to the cost accounting system in the management of costs in travel agencies Page 10 ... 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