The case of employed accountants in Mindanao: Effect of COVID-19 pandemic on salary

Abstract

This study aims to identify the group of accountants affected by the COVID-19 Pandemic through salary reduction and what group assistance should be focused on in terms of financial aid. A total of 366 accountants from Mindanao participate in the study. A survey questionnaire was utilized to collate demographics and the effect of the COVID-19 Pandemic on the salaries of Mindanao Accountants. The cross-tabulation between variables is utilized to determine the age, employer's industry, certifications or licenses, and salary range greatly affected by COVID-19, comparing it with the two-way ANOVA test to study their association. This was tested to determine if COVID-19 affected the Mindanao accountants and resulted in salary reductions. This paper discovered that accountants in Mindanao are affected by the COVID-19 Pandemic with a negative impact on the salaries of accountants aged 46 and above, employed in the academic sector or earning P35,000–P39,000, regardless of whether they are certified practicing accountants (CPA) or Non-CPA with or without other certifications or licenses. Also, the study revealed a significant association between the employment effect of COVID-19 and the industry group of Mindanao Accountants compared to the COVID-19 impact on salaries. Recommending for pandemic responses to accountants be grouped based on their industry.