The document provides an introduction to accounting, including definitions of accounting and bookkeeping. It discusses the accounting process, users of accounting information, and the different branches of accounting practice including public, private, government, and academic accounting. The history of accounting is also reviewed from ancient civilizations to the 19th century developments related to the industrial revolution.

1. INTRODUCTION
TO
ACCOUNTING

2. WARM UP
T I D E R C X W D Y Z X I
W Y C U S T O M E R X Z N
F O W N E R J X B W Z Y V
I X W Y Z Z O W I Z X Y E
N X A C C O U N T I N G S
A Y W W X Z R W Z Y X Y T
N X B U S I N E S S A X O
C Z W W Z Z A Y Y X T Z R
E C A S H X L E N D E R S
W G N I P P E E K K O O B
L E D G E R Y A S S E T Z
Find the HIDDEN words:

3. PRE ASSESSMENT
Answer the following questions:
1. What is Accounting?
2. What is Double Entry?
3. Differentiate the forms of business.
4. Bookkeepping and Accounting.
5. Define Assets, Liability & Equity.

4. What is Accounting?
Accounting is defined as:
• Service activity.
• Process of Identifying, measuring, and
communicating economic information.
• Language of business
• Art of analyzing financial transaction

5. The accounting system used by profit-seeking and
not-for-profit organizations provide relevant
financial information
This information is presented I financial statement.
Nature of Accounting

6. Bookkeeping
Involves the routine
recording of economic
activities and is a
mechanical process.

7. The accounting Process consist of the following function:
1. The accountants observe many events and identify and
measure in financial terms.
2. The economic events are recorded, classified into
meaningful groups and summarized for conciseness.
3. Accountants report on business activity by preparing
financial statements and special report.
4. Accountant often asked to interpret these statements and
report for various group.
Function of Accounting

8. Diagram of the
Accounting Process
1. Analyzing
2. Recording
3. Classifying
4. Summarizing
5. Reporting
6. Interpreting

9. User of Accounting Information
Accounting serves people both inside and outside the
organization or business firm.
a.Internal Users – are the decision-making individual
inside the business who are responsible for the
performance of the business.
b.External Users – are the decision-making individual
outside the business who are affected in some way by
the performance of the business.

10. Types of External Users:
1.Owners and Prospective owners
(Investors)
2.Creditor (lenders)
3.Government and their Agencies
4.Customers
5.General Public

11. History of Accounting
• Ancient Civilization
(China, Babylonian, Greece and Egypt)
• 14th – 16th century
(innovative Italian of Renaissance)
• 19th century
(Industrial Revolution )

12. BRANCHES OF
ACCOUNTING

13. Basic Professional Values
and Ethics
Codes of Ethics Objectives:
The accounting profession are to work to the highest
standards of professionalism, to attain the highest levels
of performance and generally to meet the public interest
requirement.
Objective four basic needs:
1. Credibility
2. Professionalism
3. Quality of Service
4. Confidence

14. Fundamentals of
Principles
1. Integrity
2. Objectivity
3. Competence and due care
4. Confidentiality
5. Professional behavior
6. Technical standard
• Board of Accountancy (BOA)
• Professional Regulatory Commission
(PRC)
• Securities and Exchange Commission
(SEC)
• Auditing Standards and Practices
Council (ASPC)

15. Scope of the Practices of
Accountancy
According to the Philippines
Accountancy Act of 2004 (RA9299), the
practice of accountancy shall include:
Practice of Public Accountancy
Practice of Commerce and Industry
Practice of Education or Academe
Practice of Government

16. Seat Works
Closing Prayer
Assignments

17. 14th century – 16th century
(Itally)
• Acknowledge to be the father of mother accounting
• Uses of Arabic numerals in tracking business
accounts
• Double Entry System.
• Genoa
• Florentine
• Luca Pacioli
• Summa de Arithmetica, Geometrica,
Proportioni et Proportionalita.

18. 19th Century
(England)
• Handicraft method to Factory method
• Share issuing company (Stockholding)

19. Public Accounting
Accountants in public practice are working in
accounting firms or individually to provide audit
and attestation, tax planning and preparation,
and advisory services to their clients
Accountants in public accounting serve clients
on a project or contractual basis.

20. Private Accounting
In private accounting, also known as practice
in commerce and industry, an accountant
serves only one company. Accountants in
private accounting provide a staff function which
supports the company by performing
accounting-related tasks.

21. Government Accounting
Government agencies also need accountants.
These agencies need accounting information to
help them plan, budget, forecast, and allocate
government funds. State auditors are also
employed by the government to ensure the
proper use and allocation of the said funds.

22. Accounting Academe
This area is made up of accountants who are
into teaching, research, and training &
development. Accountants can pursue a career
as a faculty member in a school, an author of an
accounting book, a researcher, a trainer, or a
reviewer.

24. Seatwork
I. Identify if the users mention is external write Ex or
internal Write In.
1. Customer
2. Bureau of Internal Revenue
3. Labor Union
4. Factory Manager
5. Vice President of Finance
6. Securities and Exchange Commission
7. Investors
8. Suppliers
9. Factory Workers
10.A bank Company

25. Seatwork
II. Enumeration.
1. 4 Basic Ethics of Accounting
2. 6 Fundamentals of Accounting
III. History of Accounting and its contribution.

26. Assignment
I. Answer the following:
1. Define the types of business.
2. Define the preformed activities of a business
3. Element of Financial Statements