Micro, Small and Medium Enterprises (MSMEs) participating One Town One Product (OTOP) program, play a significant role in economic growth. Thus, OTOP businesses must establish and practice strong bookkeeping and financial reporting to sustain their contributions. This study aims to determine the bookkeeping and financial reporting practices of OTOP businesses in Bohol. Using a descriptive quantitative research method, data were gathered through a questionnaire answered by 37 OTOP businesses, comprising 22 in the processed food industry and 15 in the home and fashion industry. The data were statistically analyzed using frequency counts, percentages, weighted mean, and modes. The study found that all OTOP businesses operate in the manufacturing industry, with a slight plurality in operation for 10 to 12 years. As to bookkeeping practices, most business owners/ managers handle bookkeeping responsibilities, do not maintain complete bookkeeping records or books of accounts, use a single- entry system and cash-basis accounting, and employ manual and computerized methods for recording transactions. As for financial reporting practices, while an overwhelming majority of OTOP businesses prepare financial statements, a plurality of them do not fully utilize their financial statements, limiting their ability to analyze business performance effectively. Thus, it is recommended that OTOP business owners and managers invest in improving their financial knowledge and skills through training workshops, seminars and courses in bookkeeping and financial reporting.

College of Business and Accountancy Bachelor of Science in Accountancy Bachelor of Science in Management Accounting