comercial english project 1

1. Ministry of Education
Centro Bilingüe Vista Alegre
Commercial English Project 1
Members:
Liz Tait
Deivy Sanjur
Grade: 10th E
Project of: The Fundamentals Of Accounting
Assignment: Commercial English
Professor: Israel Torres
2022

2. Introduction
Accounting is a fundamental tool in the development of
organizations. It is responsible for analyzing and assessing the
economic results obtained by a particular institution, company or
organization.
The fundamentals of accounting are intended to be able to
recognize, evaluate, investigate, report, etc., on the economic
movements of company.

3. Purpose
The purpose of this project is to learn the fundamentals of accounting.
Also learnt the registration, classification and summary of each and
every one of the operations carried out by the company, which have
financial effects.

4. Research Question and Objective
● What are the fundamentals of accounting?
The fundamentals of accounting are the guidelines that regulate the
way in which financial information is quantified, treated and
communicated by accounting professionals, it can be said that,in some
way, they constitute the regulatory law of the accountant.
● What are the fundamentals of accounting for?
They allow us to record, classify and interpret the events that occur to
the company and that have significance in its assets.

5. Explanation of Project
With all of the above, we can say that accounting is very important in all types of
companies, whether small, medium or big, because many years ago people
sought to have total control over all financial movements that occur in the
company.

6. At first, the accounting record methods were on wooden tablets, papyrus, clay, stone,
and also the books of Fray Luca Pacioli, but over time, the technology evolved and
today this is very useful to companies because this technology simplifies processes in
order to increase business profitability.
Also with technology you can know how much money comes in and out, the
best-selling products and the amount of outstanding debts of the company, this
makes the work faster, more efficient and provides good service to customers.

7. Currently accounting in based on a system of assumptions, doctrines, axioms and
conventions encompassed, called “Generally Accepted Accounting Principles”. Many
of these principles have had a slow evolution throughout history and only the latest
accounting advances made in recent decades are reflected in the laws.
On the other hand some fundamentals of accounting are: objectivity, prudence,
uniformity, exposure and materiality.
These principles are related to information, since they have to do with the collection,
measurement, exposure and way in which the information is taken.

8. Methodology
This project will be carried out with the qualitative methodology, In summary,
information about a secondary idea will be investigated without leaving the
context of the main idea.
The text will be analyzed, it will be summarized in the briefest and most
important parts and the information will be written as coherent as possible so
that it can sound with our words.
However, it should be noted that the information will be developed in Spanish,
translated and attached to the project.

9. Findings
❖ Deivy Sanjur:
My findings are understand how they make their records and with what
materials in ancient times, know who Luca Pacioli was and his
contributions to accounting and realize how much technology can help us
in business.
❖ Liz Tait:
In this work you can find the finding that there are many fundamentals of
accounting, and that these have to do with the characteristics, qualities,
principles and rules of accounting.

10. Conclusions
★ Deivy Sanjur:
My conclusion is that accounting was born thanks to the need to record all
the financial movements that occur in the company, to have documents
that demonstrate all the processes carried out by the company and to see
if the business is really profitable.
★ Liz Tait:
To conclude, I can say that accounting is based on the need to have
accurate, timely and complete financial information, with documents and
records that demonstrate the processes carried out by an entity and the
results obtained that reflect its financial situation.

11. Special Thanks
➔ Deivy Sanjur:
My special thanks is for rincón del vago.
➔ Liz Tait:
For the collaboration, support, insensitivity in the project and clarification of
doubts I have to thanks my sister, who helped me with some things about
this work.

12. Resources
For this project we use web resources; which in this include pages, article, etc.,
and also theory about the accounting book that asked us at school.

13. Bibliographic References
https://www.jofrasi.pe/la-contabilidad-y-finanzas-su-importancia-para-una-empresa/
https://www.ceupe.com/blog/fundamentos-de-contabilidad-financiera.html#:~:text=%E2%80%
9CLa%20contabilidad%20es%20el%20arte,el%20de%20interpretar%20sus%20resultados.%
E2%80%9D

14. Appendices