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The Effect Of Internal Control On The Operating Activities Of Small Restaurants

ABSTRACT Researchers have found that more than 67% of restaurants fail within the first 3 years of their operation. These findings underscore the restaurant industry’s current crisis of profitability and survivability. The industry’s average profit is generally small, ranging from 3% to 7%. Despite these problems, researchers have not examined the effect of internal control on the operating activities of small restaurants. Internal control is defined in this study as all the policies and procedures management uses to ensure the reliability of financial reporting, compliance with laws and regulations, and the effectiveness and efficiency of operations. The purpose of this study was to determine restaurant managers’ perceptions of the internal control systems and (a) the protection of assets, (b) the…