Scribd Logo
Upload

Welcome to Scribd!

  • 29 views

    Q1 W1 Intro To Accounting

    Uploaded by

    marissa casareno almuete
    This document provides an introduction to accounting concepts including defining accounting, describing the nature of accounting, and outlining the history of accounting. It discusses the three types of businesses according to activities: service businesses, merchandising businesses, and manufacturing businesses. It also defines the five major accounts - assets, liabilities, equity/capital, income, and expenses - and how they differ from each other. Finally, it describes what constitutes a service business and how to identify business versus non-business transactions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Q1 W1 Intro To Accounting

    Uploaded by

    marissa casareno almuete
    29 views20 pages
    This document provides an introduction to accounting concepts including defining accounting, describing the nature of accounting, and outlining the history of accounting. It discusses the three types of businesses according to activities: service businesses, merchandising businesses, and manufacturing businesses. It also defines the five major accounts - assets, liabilities, equity/capital, income, and expenses - and how they differ from each other. Finally, it describes what constitutes a service business and how to identify business versus non-business transactions.

    Original Title

    Q1-W1-Intro-to-Accounting

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides an introduction to accounting concepts including defining accounting, describing the nature of accounting, and outlining the history of accounting. It discusses the three types of businesses according to activities: service businesses, merchandising businesses, and manufacturing businesses. It also defines the five major accounts - assets, liabilities, equity/capital, income, and expenses - and how they differ from each other. Finally, it describes what constitutes a service business and how to identify business versus non-business transactions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    29 views20 pages

    Q1 W1 Intro To Accounting

    Uploaded by

    marissa casareno almuete
    This document provides an introduction to accounting concepts including defining accounting, describing the nature of accounting, and outlining the history of accounting. It discusses the three types of businesses according to activities: service businesses, merchandising businesses, and manufacturing businesses. It also defines the five major accounts - assets, liabilities, equity/capital, income, and expenses - and how they differ from each other. Finally, it describes what constitutes a service business and how to identify business versus non-business transactions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 20

    FUNDAMENTALS OF

    ACCOUNTANCY, BUSINESS AND


    MANAGEMENT 1

    INTRODUCTION TO
    ACCOUNTING
    Marissa C. Almuete
    Subject Teacher
    Specific Learning Objectives:
    At the end of this lesson, the students will
    be able to:
    • define accounting;
    • describe the nature of accounting; and
    • narrate the history of accounting.
    Introduction to Accounting

    What are again the types


    of businesses according to
    activities?
    Types of Business According to Activities
    1. Service Business 2. Merchandising Business
    Types of Business According to Activities

    3. Manufacturing Business
    Nature of Transactions in a Service Business

    Can you give examples of


    service businesses in your
    community?
    Nature of Transactions in a Service Business

    Examples of Service Businesses


    1. Beauty Salons
    2. Barber Shops
    3. Motor Repair Shops
    4. Health Clinics
    Nature of Transactions in a Service Business

    What are the five major


    accounts? How do they
    differ from one another?
    Nature of Transactions in a Service Business

    The five major accounts are:


    • Assets - are resources owned by a business.
    • Liabilities - are claims against the assets of the
    business.
    • Equity (Capital) - is the claim of the owner or
    owners.
    • Income - are increases in the equity or capital
    resulting from business activities entered into.
    • Expenses - are decreases in the equity or capital
    resulting from business activities. It may include
    assets or services consumed in the process of
    earning income.
    Nature of Transactions in a Service Business

    What is a service business?


    How can you identify if a
    transaction is business or
    non-business?
    Nature of Transactions in a Service Business
    • Any commercial organization engaged in an activity
    that provides service to clients for profit is called a
    “service business”. In general, service businesses
    have no physical product actually sold to clients;
    instead, their product is “service”. Their service is
    primarily designed to assist or facilitate the work of
    clients.
    • A transaction may be business or non-business
    transactions. A transaction that has an effect on
    the accounting equation, is a business transaction.
    Otherwise, it is a non-business transaction.
    Differentiated Instruction:

    TASKS:
    • Search from the internet a service
    business of your chosen company.
    • After coming up with a service
    business, prepare the journal entries of
    business transactions in your company.
    • Then, present your outputs through a
    creative presentation.
    CRITERIA:

    Correctness and Completeness 20


    Creativity and Resourcefulness 20
    Maximum Participation & Discipline
    10
    Total 50
    You are given 3 minutes to
    finalize and prepare your
    presentation to the class.
    Each group is given a maximum
    of 5 minutes to present their
    outputs.
    PRESENTATION OF
    OUTPUTS
    • GROUP 1
    • GROUP 2
    • GROUP 3
    • GROUP 4
    • GROUP 5
    SPOT CHECK

    Analyze the following business


    transaction of Pedro
    Matapang, a computer
    technician. What makes the
    journal entry incorrect? Why?
    • February 15, 2016 - Pedro purchased one
    computer unit from XY Computer Store to
    be used for the business. He issued check
    number 001 amounting to PHP25,000.
    General Journal
    Date Account Title and Ref. Debit Credit
    Explanation
    2/15/2016 Office Equipment ck#001 25,000

    Accounts Payable 2,500

    To record the purchase of one (1) computer unit.


    Application to Real Life
    • Why is accuracy important in preparing
    journal entries?
    Having accurate records prior to issuing
    the company’s financial statements is
    imperative to successful business
    operations. Same is true in life. We
    need to be careful and accurate in every
    step we make for us to be successful.
    • How do you handle the trials in your life
    in order for you to succeed?
    GENERALIZATION

    What realizations or
    insights have you gained
    from the lesson/topic?
    THANK YOU!

    KEEP SAFE
    AND
    GOD BLESS YOU ALL!

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy