FINANCIAL PERFORMANCE OF CASA BELLA HOUSE OF RIBS
AND SEAFOODS IN SAN CARLOS CITY, PANGASINAN
An Accountancy Thesis
University of Luzon
A business is an organization or economic system where goods and services are exchanged for one another or for money. It is important that the business owner seriously considers the different forms of business organization—types such as sole proprietorship, partnership, and corporation.
The vast majority of small businesses start out as sole proprietorships. These firms are owned by one person, usually the individual who has day-to-day responsibility for running the business. Sole proprietorships own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts. In the eyes of the law and the public, you are one in the same with the business.
Establishing a single proprietorship business is less complicated than that of bigger companies and corporations and also less expensive.
This research concentrates on a sole proprietorship business of Casa Bella House of Ribs and Seafoods Restaurant one of the restaurants that offer delectable cuisine in San Carlos City, Pangasinan owned and managed by Mrs. Anabelle S. Castro.
In November 20, 2008,
Mrs. Anabelle S. Castro with the help of her husband Mr. Samuel S. Castro, engaged in selling frozen food products known as Belle’s Frozen Products. Mrs. Castro also put up another business named as SamBelle’s General Merchandise which sells and delivers softdrinks. But this kind of business did not last for a year so they decided to put up restaurant business which now known as Casa Bella House of Ribs and Seafoods registered in the name of Mrs. Anabelle S. Castro.
Casa Bella House of Ribs & Seafoods is a semi-casual dining restaurant which currently has 9 employees and operates from Mondays to Saturdays. They offers a rich variety of cuisine one of which is their best selling tender baby back ribs marinated with special herbs and spices, grilled and perfected with bourbon sauce. Their menu also features a wide array of other choice dishes like Grilled Tuna Panga or Belly, Grilled Squid a la Pobre, Sizzling Squid Rings and Gambas sautéed with slices of button mushroom, bell pepper and special seasonings, T-bone Steak, served with steamed rice or a choice of potato fries, mojos or buttered veggies along with brandy-peppercorn gravy.
It is true that Casa Bella started as small restaurant business but because of proper management they expanded their business and now they offer KTV function rooms and catering services for all occasions.
Casa Bella is an example of enterprise operated under sole proprietorship that shows improvements of business performance and generates income.
The comparisons of the business’ financial performance and cash flows from the years 2011, 2012 and 2013 of Casa Bella shall be used as proofs that proper management was exercised.
In consideration of this observation it is noteworthy that research is to be conducted on this subject. This will give an idea to other business owner especially the sole proprietor on how to prolong their operation in order to insure the smooth flow of the business.
The researchers choose Casa Bella as their entity wherein to conduct this research for the reason that Casa Bella is one of the well known restaurants in the City that operates for almost four years.
In connection, the significance of this study to all accountancy students, future researchers, to other businessmen and to those who are willing to put up a restaurant business are to learn and acquire more knowledge about the Financial Performance and gather some business strategies and information that will help them to understand the business cycle in restaurant industry. The knowledge of accountancy students gathered from school can be applied into the real business world. This...
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