The document provides information about a learning module for senior high school students on accounting, business, and management. It includes details about the module such as the writers, validators, and management team. It also outlines the key things students should know after completing the module, which is identifying the elements of the statement of financial position and preparing an SFP using the proper report form. The module then provides activities for students to practice these skills independently.
Estimate future financial outcomes of your company with the help of this content ready Revenue Forecasting Powerpoint Presentation Slides. The income forecast Power complete deck contains professional looking PPT slides such as retail store revenue projections, revenue forecast model, monthly revenue projection, income statement projection, revenue projection per share, earning sales forecast product-wise, revenue projections by active users, etc. The income forecast presentation deck also includes charts and graphs. You can use these charts & graphs to present your financial data in an organized way. All templates are fully editable, you can add or change the text if you wish to. Furthermore, the annual budgeting process and planning cycles can also be shown with the help of visually appealing earning projection PPT visuals. Not just this monetary forecast PPT slideshow also goes well with topics like financial projection, income forecast, earning projection, revenue management and so on. Download yield management PowerPoint template to showcase financial reports in a visual manner. Discuss the impasse with our Revenue Forecasting Powerpoint Presentation Slides. Figure out how to get around it.
Accounting is the process of documenting a company's financial transactions. Accounting entails summarizing, evaluating, and reporting these transactions to oversight organizations, regulators, and tax collecting agencies.
Estimate future financial outcomes of your company with the help of this content ready Revenue Forecasting Powerpoint Presentation Slides. The income forecast Power complete deck contains professional looking PPT slides such as retail store revenue projections, revenue forecast model, monthly revenue projection, income statement projection, revenue projection per share, earning sales forecast product-wise, revenue projections by active users, etc. The income forecast presentation deck also includes charts and graphs. You can use these charts & graphs to present your financial data in an organized way. All templates are fully editable, you can add or change the text if you wish to. Furthermore, the annual budgeting process and planning cycles can also be shown with the help of visually appealing earning projection PPT visuals. Not just this monetary forecast PPT slideshow also goes well with topics like financial projection, income forecast, earning projection, revenue management and so on. Download yield management PowerPoint template to showcase financial reports in a visual manner. Discuss the impasse with our Revenue Forecasting Powerpoint Presentation Slides. Figure out how to get around it.
Accounting is the process of documenting a company's financial transactions. Accounting entails summarizing, evaluating, and reporting these transactions to oversight organizations, regulators, and tax collecting agencies.
FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1.pptxRoseBantiyan
HISTORY OF ACCOUNTING Accounting started as a simple recording of repetitive exchanges. The history of accounting is often seen as indistinguishable from the history of finance and business. It has evolved in response to various social and economic needs of men over 5,000 years- its origins can be tracked back to the beginning of time.
FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1.pptxRoseBantiyan
HISTORY OF ACCOUNTING Accounting started as a simple recording of repetitive exchanges. The history of accounting is often seen as indistinguishable from the history of finance and business. It has evolved in response to various social and economic needs of men over 5,000 years- its origins can be tracked back to the beginning of time.
Dr. DaneshfarSchool of BusinessUNHDr. Mohammad S. Baza.docxkanepbyrne80830
Dr. Daneshfar
School of Business
UNH
Dr. Mohammad S. Bazaz
Department of Accounting & Finance.
California State University_SB
FINANCIAL ACCOUNTING
Term Project
FINANCIAL STATEMENT ANALYSIS
NAMES OF GROUP MEMBERS
1. ___xinghaoliu____________ Focused on parts: ………………
2. ___zhangchao____________ Focused on parts: ………………
3. ___weizhao______________ Focused on parts: ………………
4. ________________________ Focused on parts: ………………
(The group may allocate the work among themselves. In that case each member may focus on some specific parts for report preparation purpose; every member should review all parts and is responsible for the entire project in order to achieve the term project objectives.)
Name of the corporation analyzed:
____Honda____________________________
[This report will not be returned to you. Keep a copy For Your Reference if you wish]
THIS TERM PROJECT HAS FOUR PARTS:
A. Reading and understanding financial statements
B. Analysis of financial statements
C. Class presentation of the high lights (Executive Summary)
Your answers must be typed. For this purpose, a copy of this project is presented electronically and you can type your answers in the given spaces. Type you answers in Italic font to differentiate your answers from the questions.
Visit UNH Accounting Club Website for a complete list of available resources for your term project: http://newton.newhaven.edu/accounting. You can access the resources available on the Accounting Club website and UNH library from Home as well on campus.
INTRODUCTION
Annual reports produced by companies are a primary source of information about a company's activities over a specific period of time. The information disclosed in these reports is prepared by the company's management and is useful to different users, mainly investors and creditors.
The primary purpose of an annual report is to convince existing shareholders to continue investing in the corporation. However, management may also use the annual report to: (1) persuade prospective shareholders to invest in the corporation, (2) inform financial analysts about the investment quality of the corporation, (3) inform lenders, such as bankers and suppliers, of the credit-worthiness of the corporation, and (4) provide evidence to government agencies of compliance with regulations.
As a manager, you are (or will become) involved in the preparation of financial statements, which entails knowledge of the disclosure requirements. Furthermore, you will most probably use financial statements frequently in your profession. For example, as a manager, you will be the responsible person for the accuracy of the information in the financial statement. As an analyst, you may be asked to advise clients about investments in particular companies. More importantly, as an individual investor you may use financial statements to select your personal investments.
The basic purpose of the Financial Statement Project is to "get your hands d.
Complete a 2-part assignment in which you classify cash inflows ChantellPantoja184
Complete a 2-part assignment in which you classify cash inflows and outflows and prepare a cash flow statement.
The balance sheet and income statement do not necessarily show a complete picture of the financial condition of an organization. In most organizations cash is king, and without a sizable amount of cash, an organization can become insolvent (that is, not having enough ready cash to meet its current obligations or purchase merchandise or materials). When this happens, creditors, bankers, and other external stakeholders (people and organizations that have a vested interest in the survival of a business) might become impatient and force the business into bankruptcy.
By successfully completing this assignment , you will demonstrate your proficiency in the following course competencies and assessment criteria:
Competency 1: Define accounting and its application to accounting principles.
Analyze accounting data to classify cash inflow and outflows.
Competency 2: Apply accounting cycle strategies to manage business financial events.
Apply the appropriate activity for each business transaction.
Competency 3: Prepare financial statements from accounting system data.
Prepare a cash flow statement using appropriate financial data.
This assignment includes two parts. Complete both parts using the templates provided. Both templates are linked in the Resources under the Required Resources heading. Submit both completed templates for the assignment .
Part 1: Types of Cash Inflows and Outflows
You know that the cash flow statement classifies cash receipts and cash payments as operating, investing, and financing activities. Before preparing the cash flow statement, accounting data must be analyzed to locate transactions in both the cash account and other locations. After the transactions have been located, it should be determined whether each one affects operating, investing, or financing cash flow. Last, whether the transaction results in a cash inflow or outflow must be ascertained. Accountants consider this statement to be foundational for a business to continuously operate.
For this part of the assessment, use the Assessment 3, Part 1 Template to classify each of the following cash inflows and outflows as operating, investing, or financing activities:
Sale of a piece of company equipment.
Sale of common stock.
Payment to suppliers for merchandise purchased.
Payment to lenders for interest on note payable.
Sale of investments in other companies.
Purchase of land to expand plant size.
Payment to stockholders as cash dividends.
Sale of goods or services.
Payment to employees for wages and salaries.
Lending of money to other business entities.
Payment to government for property and income taxes.
Collection of principal on loans to other entities.
Interest and dividends received.
Issue of bonds to support company growth.
Purchase of investments in debt or equity of other entities.
Payment to other ...
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
For more classes visit
www.snaptutorial.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
For more classes visit
www.snaptutorial.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
2. GRADE 12
__________________________________________________________________________________________
Learning Module for Senior High School Accountancy , Business and Management
Fundamentals of Accountancy, Business and Management 2 – Grade 12
Alternative Delivery Mode
Quarter 1 – Module 1: Statement of Financial Position
First Edition, 2020
Republic Act 8293, section 176 states that: No copyright shall subsist in any work of the
Government of the Philippines. However, prior approval of the government agency or office wherein
the work is created shall be necessary for exploitation of such work for profit. Such agency or office
may, among other things, impose as a condition the payment of royalties.
Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names, trademarks,
etc.) included in this module are owned by their respective copyright holders. Every effort has been
exerted to locate and seek permission to use these materials from their respective copyright owners.
The publisher and authors do not represent nor claim ownership over them.
Published by the Department of Education
Secretary: Leonor Magtolis Briones
Undersecretary: Diosdado M. San Antonio
Development Team of the Module
Writers: Ma. Cristina A. Labay, MM Manuel L. Hermosa, EdD
Isabel A. Gumaru, DBA Farida F. Tallud, DBM
Ellaine I. Dela Cruz, DBA Clarabelle V. Dalimit, DEM
Mark Vincent B. Emit, PhD Jupiter Q. Whiteside,MBA
Mamerto T. Goneda, MSIT Edna B. Waje, DEM
Validators: Remylinda T. Soriano, EPS, Math
Angelita Z. Modesto, PSDS
George B. Borromeo, PSDS
Illustrator: Writers
Layout Artist: Writers
Management Team : Malcolm S. Garma, Regional Director Name of Regional Director
Genia V. Santos, CLMD Chief Name of CLMD Chief
Dennis M. Mendoza, Regional EPS in Charge of LRMS
and Regional ADM Coordinator
Maria Magdalena M. Lim, CESO V, Schools Division
Superintendent Aida H. Rondilla, CID Chief
Lucky S. Carpio, EPS in Charge of LRMS and
Division ADM Coordinator
Printed in the Philippines by ________________________
Department of Education – National Capital Region
Office Address: ____________________________________________
____________________________________________
Telefax: ____________________________________________
E-mail Address: ____________________________________________
2
4. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
The following are some reminders in using this module:
1. Use the module with care. Do not put unnecessary mark/s on any part of the
module. Use a separate sheet of paper in answering the exercises.
2. Don’t forget to answer What I Know before moving on to the other activities included
in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through with it.
If you encounter any difficulty in answering the tasks in this module, do not hesitate to consult
your teacher or facilitator. Always bear in mind that you are not alone.
We hope that through this material, you will experience meaningful learning and gain deep
understanding of the relevant competencies. You can do it!
What I Need to Know
This module was written for you to accomplish at home. It was carefully
designed so that you can work at your own pace and allow self-discovery of the
concept through activities that you will perform. Activities were also selected to allow
independent learning which also aims to develop students’ reading comprehension
skills through understanding written texts.
After going through this module, you are expected to:
1. Identify the elements of the SFP and describe each of them
2. Prepare an SFP using the report form with proper classification of items as
current and non- current
4
5. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
What I Know
As a prerequisite to FABM2 is FABM1. You must recall through your stock
knowledge the Elements of Financial Statements. The basic purpose of accounting
is to provide information that is useful for making economic decision Accounting
information is most commonly communicated to users of accounting information
through the financial statements.
Instruction: Fill in the blank with the correct answer (Critical
Thinking, Communication and Collaboration)
_________ 1. The book of original entry.
_________ 2. Assets are equal to liabilities and owner’s equity.
_________ 3. Users of accounting information is mostly communicated
__________4. Are what the company owns.
__________5. Are what the company owed.
_________ 6. Inflows of cash because of services rendered.
_________ 7. Assets from cash spent because of sales of goods.
_________ 8. The second accounting cycle.
_________ 9. Is called the book of the final entry.
________ 10.is the next cycle after journalizing.
Please check your answer.
1. Journal 6. Income
2.Accounting equating 7. Expenses
3.Financial 8. Journalizing
Statement 9. Ledger
4.Assets 10. Posting to
5.Liabilities ledger
5
6. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
Instructions: Write True if the statement is correct and False if the statement is
incorrect (Collaboration)
__________1. The left side of the account is Debit
__________2. The permanent accounts are the nominal account.
__________3. The right side of the account is credit.
__________4. The elements of the statement of financial position are Assets and
expenses.
__________5. Current Assets are easily convertible into cash within the
normal operating cycle of the business
___________6. The elements of Statement of financial position are Assets,
Liabilities and Owner’s Equity account.
___________7. Kinds of Assets are Current Assets and Non-Current Assets
___________8. Kinds of Liabilities are Current Liabilities and Non-Current
Liabilities
___________9. Under owner’s Equity Account includes Capital, Owner’s
withdrawal, Revenue and Expenses.
___________10. Account form and Report form are the two kinds of forms of the
Statement of Financial Position
All are true
except no. 2 and
no.4. Explanation
is at the right
The answer for no. 2 is false because
permanent account is real account. Like
assets, liabilities and owner’s equity
account
The answer for no. 4 is false because the
elements of Statement of financial position
are Assets, Liabilities and Owner’s Equity
account
6
7. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
STATEMENT OF
MODULE 1 FINANCIAL POSITION
Financial statements are structured representation of an entity’s financial position
which is balance sheet and results of its operations which is the statement of
performance. Financial statements are product of the accounting process.
The elements of the financial positions are as follows:
1. Assets are resources you control that have resulted from past events and
can provide you with the future economic benefits
2. Liabilities are your present obligations that have resulted from past events
and can require you give up resources when settling them.
3. Equity means assets minus liabilities. Other terms for equity are
capital, net assets, and net worth.
The above elements are termed Permanent Accounts because their life or
usefulness continues throughout the life of the company.
What’s In
I want you to identify all the Assets, Liabilities and Owner’s Equity of your
family. You can ask your family members to help you identify the elements of the
financial position.
Independent Activity 1.1: My Family’s Financial Posit (Critical - Thinking,
Creativity, Character and Collaboration)
Instructions: Cut out pictures from magazines or you can take a picture or draw all
your family’s assets, I want you to identify all the liabilities, and the owner’s equity
account. Make a reflection of what your family need to do in order to make the
Financial Position more attractive.
7
8. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
LIABILITIES
EQUALS
+
ASSETS
OWNER’S EQUITY
Notes to the Teacher
Students can borrow books from their neighbor about the accounting or can
browse the notes in FABM1 for understanding the topics of “Statement of
Financial Position” repetition of the words and it use will make the students
remember and retain those account titles in their mind as stock knowledge.
Note: For learners who are using online platform
The learning module emphasizes on the 5-C skills being developed by the
learnersthrough the activities – (Communication, Collaboration, Creativity,
Critical thinking and Character Building).
What’s New
If you can answer scramble words, you can answer the questions given below.
1. What are the two forms of 1. CCAONTU
Statement of Financial OEPRT
Position?
2. RCRUENT SSTEA
2.What are the kinds of TNERURCR ONN
Assets?
3. RCRUENT ABLETISI
3.What are the kinds of GNOL ETMR ABLETISI
Liabilities 8
8
9. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
There are two forms of statement of financial position, the report
form and account form. Report form is usually the form used for submission
to the government agencies and financial institution such banks. You can use
any of the form depending on the one who makes the report in the company.
See table below for the format
Suresh Company
Statement of Financial Position
As of December 31,2020
Assets Liabilities & Owner’s Equity
Cash P10,000 Accounts Payable P 5,000
Accounts Receivables 5,000
Supplies 1,000 Owner’s Capital 35,000
Equipment 4,000
Total Asserts P40,000 Total Liabilities & 40,000
Owner’s Equity
The format given above is the Account form. All assets are found on the
left side of the account and the liabilities and owner’s equity account
are found on the right side of then account
The table below shows the Report form format for the statement of
financial position. Assets, liabilities and owner’s equity accounts are in
one direction. You must place the assets first, then the total liabilities and
owner’s equity account. This is usually the format that will be submitted to
the government and private agencies such as Banks. Financial
institutions, Bureau of Internal Revenue, City Treasurer’s office and others.
9
10. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
HEADING
CURRENTASSETS
NON-CURRENT
ASSETS
CURRENT LIABILITIES
LONG TERM
LIABILITIES
OWNER’S EQUITY
What’s More
Independent Activity 1.1 (Critical Thinking and Communication)
This time, I want you class to do the following task alone. Make sure to answer them
correctly.
Instructions: Choose the answer that corresponds for each of the question
provided below: Write letter only of the best letter.
1. Information about the revenue and expenses is provided by
a. Statement of changes in equity
b. Statement of Cash Flow
c. Statement of Financial position
d. Statement of performance
10
11. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
2. Information on changes in Assets, Liabilities and Owners Equity account
a. Statement of changes in equity
b. Statement of Cash Flow
c. Statement of Financial position
d. Statement of performance
3. Cash, Cash Equivalents, merchandise inventory are classified as
a. Current Liability
b. Current Asset
c. Long Term Liability
d. Owner’s Equity
4. The following are examples of contra asset account except
a. Accumulated depreciation- Equipment
b. Accumulated depreciation-Building
c. Bad debt Expense
d. Allowance for Bad Debts
5. The elements of financial Statements are
I Assets IV Income
II Liability V Expenses III
Equity
a. I, II, IV, V
b. I, II, III
c. IV, V, I
d. I, II, III, IV, V
Note: If you failed to scoreat least
four (4) out of five (5), please
answer activity 1.2
Activity 1.2 (Critical Thinking)
Instructions: Choose the correct answer by writing the correct letter/s
of your choice
1`. The elements of the financial statements include
1. Assets 4. Income
2. Liabilities 5. expenses
3. Equity
a. 1, 2 and 3 c. 1, 2 and 3
b. 1, 2, 3, 4 and 5 d. 1, 4 and 5
11
12. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
2. Information of the financial performance is provided by
a. Statement of profit and loss
b. Statement of changes in
owners c. Statement of financial
position a. Cash flow statement
3. The following are terms used synonymously with equity except
a. Capital c. Net worth
b. Net Assets d. Revenue
4. The following are examples of current Assets except
a. Cash b. Accounts c. Prepaid Expenses
b. Accounts Receivables d. Unearned Income
5. These are easily convertible into cash within the normal operating cycle of
the business
a. Current liabilities
b. Current Assets
c. Equity
d. non -current assets
IndependentActivity 2.1:
Instruction: Solve for the accounting
equation.
Rememberthe Accounting Equation?
Assets is equals to Liability and Owner’s Equity Account
1. Angels Tutorial Center has an asset amounting to P 200,000, Liability is P 75,000.
How much is the owner’s equity account?
2. Assets of TMAM is P15,000 and Total Equity is P10,000, how much is total
Liabilities?
3. Assets is equal to P350,000, Owner’s equity is 250,000, How much is Equity?
4. Sure Fresh Company’s total liabilities amounted P30,000. Total equity
had an ending balance of P50,000. How much is total assets?
5. Current Assets is P50,000, Non- Current Assets is P150,000.00, Current Liabilities
is P10,000 and Non- Current Liabilities is P40,000, How much is the Equity of the
company?
Look at the answer key provided on page 16. You must answer the next activity if
you didn’t get at least 4 out of 5 from the above activity.
12
13. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
IndependentActivity 2.2 (Critical Thinking)
Instructions: Solve for the unknown: In answering the problems below, you must have
to recall the kinds of assets and liabilities account and their examples.
1. Theone Company had the following accounts at year end: Cash-150,000,
Accounts Payable-70,000, Prepaid Expenses-35,000. Compute for the
company’s current assets.
2. Theo Company’s Accounts Receivable amounted to P500,000. Prepaid Expense
and Unearned Income are 30,000 and 10,000 respectively. Cash balance
amounted to P100,000 while Accounts Payable and Inventory are P20,000 and P
10,000 respectively. How much is the company’s current assets? current
liabilities?
3. Company’s Total Liabilities and Equity amounted to P825,000. Total non-current
assets ended at P 550,000. Cash totaled P50,000. Inventory amounted to
Php100,000. Assuming the company had no other assets, how much is the
accounts receivable?
4. Total assets amounted to P755,000. Total equity amounted to P350,000.
Accounts Payable amounted to P80,000 while Unearned Income is P 85,000.
Assuming there are no other current liabilities, compute for the company’s non-
current liabilities.
5. Cash of P100,000, Accounts Receivables of P200,000, Prepaid Expenses of
P30,000.00, Equipment of P180,000 and Furniture of P20,000, How much is the
total assets?
What I Have Learned
Statement of Financial position is one of the Financial reports submitted
by the company to the users of information such as banks and other financial
institutions. They are called permanent because of their existence is continuous
and the balance is forwarded to the next accounting period. The elements of
financial position are assets, liabilities and owner’s equity account. The kinds
of Assets are Current and Non-Current while the kinds of liabilities are Current
and Long-Term Liabilities. Under current assets are cash, receivables,
Inventories and prepaid expenses. Non-current assets include Land, Building
Equipment and furniture and their accumulated depreciation. While for Current
Liabilities includes Accounts Payables and Notes Payable and for the Long-Term
Liabilities
13
14. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
♥♥♥What I Need to Reflect (Character)
You must buy only the important and the basic needs of the family or buy
assets that has economic benefit in the future, when you don’t have cash do
not borrow money just to acquire it. However, if you have more than enough
for your family, why not think of donating something for the less fortunate
specifically this pandemic situation.
What I can Do
Practice makes perfect! I want you to review all our lessons
learned you can check your FABM1 notes. You can prepare an SFP using
all the assets, liabilities and equity of your family. (Collaboration and
Critical Thinking)
Assessment
Instructions: Compute for the missing amount of the account titles taken from the SPF
of independent company Critical Thinking and Communication)
_______1. Assets are Php 27,000 and owner's equity is Php15,000, liabilities?
_______2. At the end of the first month of operations for TMAM Transportation, the
business had the following accounts: Accounts Receivable, Php2,800;
Prepaid Insurance, Php700; Equipment, Php85,500 and Cash, Php75,550.
On the same date, TMAM owed the following creditors: Mely’s Supply
Company, Php8,000; Mark’s Equipment, Php19,500. The current assets
for the Juana’s Delivery Service are
_______3. At the end of the first month of operations for Mary Anne’s, the business
14
15. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
had the following accounts: Accounts Receivable, Php4,800; Prepaid
Insurance, Php15,000; Equipment, Php68,200 and Cash, Php40,650.
On the same date, Juana owed the following creditors: Bonny Supply
Company, Php42,000 (due in 6 months); Maria’s Equipment, Php90,500
(due after 2 years). Current liability is
_______4. If during the year total assets increase by Php85,000 and total liabilities
decrease by Php15,000, by how much did owner's
equity increase/decrease?
------------5.Using the following accounts Cash – 15,000 Loans Payable – 77,500
Accounts Receivable – 6,300, Inventory- 7,400 Supplies – 4,200Equipment
– 52,000 Owner’s equity – 98,000 Accounts Payable – 22,400 Building –
113,000,
How much is the total assets and Total Liabilities and Owner’s Equity?
References
Books
Ferrer, R., & Millan, Z. V. (2017). Fundamentals of Accountancy, Business &
Management Part 2. 1st Edition
Haddock, M., Price, J., & Farina, M. (2012). College Accounting: A Contemporary
Approach, Second Edition. New York: McGraw-Hill/Irwin.
Valencia, E. G., & Roxas, G. F. (2010). Basic Accounting (3rd ed.).
Mandaluyong City, Philippines: Valencia Educational Supply.
Teaching Guide in Senior High School Fundamentals of Accountancy Business
and Management 2, donated by the Commission on Higher Education in
Collaboration with the Philippine Normal University to Department of Education
Websites
accounting coach.com
https://www.moneymanagement.org/blog/financial-proverbs-that-are-still-true-today
15
16. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
Additional Activities
Prepare a SPF for the company using report form.
Your neighbor who has a Sari- Sari store hired you to prepare his sari-sari store’s
Statement of Financial Position. In order to prepare the statement, you identified the
following assets and liabilities of Mr. Martinez after he made an investment of
P159,000.00.
a. His sari-sari store has cash deposited in a bank account amounting to P50,000
b. His sari-sari store has a lot of uncollected sales from customers amounting to
P75,000
c. The total amount of merchandise left inside the store is P30,000
d. He already paid one year’s rent in advance amounting to P12,000
e. The value of all the company’s furniture amounted to P100,000
f. He bought merchandise from his supplier amounting to P25,000 and the supplier
agreed that payment can be made 2 months after year-end
g. SSS, Phil health and Pag-big payables for his one employee totaled P5,000
h. The sari-sari store had outstanding liabilities to utility companies amounting to
P3,000
i. He had a loan from the bank amounting to P50,000 to be paid in 3 years
Answer Key
Activity Activity Activity 2.1 Activity 2.1 Assessment
1.1 1.2
1. d 1. a 1. 125,000 1. 185,000 = 1. 12,000
2. c 2. a (200,000-75,000) (150,000 2. 79,000
3. b 3. b 2. 5,000 (15,000 – +35,000) 3. 42,000
4. d 4. d 10,000) 2. 640,00.00 4. 100,000
5. b 5. d 3. 100,000 3. 125,000 5. 197,900
(350,000-250,000) (825,00 –
4. 80,000 (30,000 700,000)
+50,000) 4. 240,000
5. 150,000 [75,000 –
(200,000- 50,000) (165,000 +
350,000)
5. 550,000.00
16
16
17. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
Other Activity
HEADING
Current Assets P167,000
Non-Current 100,000
Total Assets P267,000
Current Liabilities P8,000
Non-Current 50,000
Total Liabilities 58,000
Equity P 209,000
Total Liabilities & Owners Equity P267,000
Answer Key WorksheetActivity 1
1 Permanent 11 Temporary
2 Permanent 12 Permanent
3 Permanent 13 Permanent
4 Permanent 14 Permanent
5 Temporary 15 Permanent
6 Permanent 16 Temporary
7 Permanent 17 Temporary
8 Permanent 18 Permanent
9 Permanent 19 Permanent
10 Temporary 20 Permanent
17
18. GRADE 12
_________________________________________________________________________________________
_Learning Module for Senior High School Accountancy , Business and Management
Name: ____________Grade Level: ______Section: _____Score: _________
Teacher: ____________________School: ______________________________
Objective: To be able to identify the permanent accounts in the Chart of
accounts given
Learning Content: Account titles under assets, liabilities and capital account
of the Statement of Financial Position.
WorksheetActivity 1
Write P if the account title is permanent account and T if the account
title is temporary. Use another sheet of paper for your answer.
1 Assets 11 Utilities Expense
2 Liabilities 12 Cash
3 Owner's Equity 13 Building
4 Capital 14 Furniture
5 Revenues 15 Notes Payable
6 Accounts Receivables 16 Owner's Drawing
7 Accounts Payable 17 Supplies Expense
8 Prepaid Rent 18 Supplies
9 Unearned Rent 19 Notes Receivables
10 Rent Expense 20 Notes Payable
18