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    ACCOUNTING123

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    April Vinas Sabusap
    This document contains an activity submitted by a student named April V. Sabusap for their BSIT-2E course. The activity asks the student to [1] write a synthesis on why accounting is important for their career and [2] write a position paper on the important learnings gained from watching a video on the history of accounting. It then provides an evaluation section containing multiple choice and essay questions to test the student's learning.

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    ACCOUNTING123

    Uploaded by

    April Vinas Sabusap
    201 views5 pages
    This document contains an activity submitted by a student named April V. Sabusap for their BSIT-2E course. The activity asks the student to [1] write a synthesis on why accounting is important for their career and [2] write a position paper on the important learnings gained from watching a video on the history of accounting. It then provides an evaluation section containing multiple choice and essay questions to test the student's learning.

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    This document contains an activity submitted by a student named April V. Sabusap for their BSIT-2E course. The activity asks the student to [1] write a synthesis on why accounting is important for their career and [2] write a position paper on the important learnings gained from watching a video on the history of accounting. It then provides an evaluation section containing multiple choice and essay questions to test the student's learning.

    Copyright:

    © All Rights Reserved
    Download as ODT, PDF, TXT or read online from Scribd
    Download as odt, pdf, or txt
    201 views5 pages

    ACCOUNTING123

    Uploaded by

    April Vinas Sabusap
    This document contains an activity submitted by a student named April V. Sabusap for their BSIT-2E course. The activity asks the student to [1] write a synthesis on why accounting is important for their career and [2] write a position paper on the important learnings gained from watching a video on the history of accounting. It then provides an evaluation section containing multiple choice and essay questions to test the student's learning.

    Copyright:

    © All Rights Reserved
    Download as ODT, PDF, TXT or read online from Scribd
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    NAME: April V. Sabusap COURSE, YR. AND SEC.

    : BSIT-2E

    V. ACTIVITY: (use another sheet for the activity)


    1. Make a synthesis on the topic “Why accounting is important in my career?”

    ANSWER: Accounting is important to my career its because you always use it in everyday life,
    and studying accounting you can make decent living do it for money. Because accounting is the
    language of business and often it exposed to business opportunities that make you very
    wealthy.

    2. After watching the video on the history of accounting, make a position paper about the
    important learnings you gain from the video. Make an outline of events on the history of
    accounting to make it easier to know.

    The Core part of ACCOUNTING is: “Count” we help you RECORD, CLASSIFY,SUMMARIZE,
    RECONCILE and ANALYZE

    MESOPOTAMIA, ASSYRIA,PHOENICIA, SUMERIA and EGYPT – There was been found the
    early accounting record.

    Current species of Human has been in existence for about 200,000 yrs. And our PLANET
    EARTH is estimated to be 4.5 billion yrs. Old

    LUCCA PACIOLI was the Author a book on Mathematics w/c was printed and published in
    Venice in 1494 and included 27 page section on Bookkeeping.

    Merchant dependent on bookkeeping to oversee multiple simultaneous

    Pacioli did not necessary envent modern accounting ,but summarized,formalized and
    helped spread accounting practices in use Italy and around mediteranian.TRADERS
    forward to the republic of netherlands around the year 1600. Dust East India company
    become the first company history to issue bounds shares of stock to the general public in
    other words.

    VII. EVALUATION: Please answer the following questions to evaluate your


    learning in this module.
    I. MULTIPLE CHOICE: Read carefully each item and encircle the letter of the correct answer.
    Erasure is strictly not allowed or NO ERASURE. (1 point each).

    D 1. Which of the following is NOT a step in the accounting process ?


    A. Identification B. Communication C. Recording D. Verification

    C 2. Which of the following is NOT a relevant economic event?


    A. An agent who attended to the concern of a complaining customer

    B. Patricia, manager of Company X, who sold an abandoned building of her company

    C. Company Y which borrowed P5M from a bank due to tight financial conditions

    D. Company Z which paid its employees their salaries for the month of January

    B 3. Who is considered as the Father of modern accounting?


    A. Queen Victoria B. Luca Pacioli C. Augustus Simon D. Queen Elizabeth
    D 4. Which is the most important step in the accounting process?
    A. Identification B. Recording C. Communication D. All are important

    A 5. Information produced by this branch of accounting aims to educate


    students in the field of accountancy
    A. Accounting education B. Accounting research C. Financial accounting D. Auditing

    B 6. The Financial accounting will report primarily to?


    A. Government accounting B. CEO of the company C. Taxing authority
    D.Creditors/Investors

    C 7. Which of the following agency is NOT charged with government accounting


    responsibility?
    A. Government agencies B. Bureau of Treasury C. Legislative Dept. D. Commission on
    Audit

    D 8. This branch of accounting focuses on creating value for the business by


    providing information used in the financial accounting and management
    accounting fields
    A. Accounting education B. Cost Accounting C. Tax accounting D. Auditing

    A 9. Financial accounting is concerned with:


    A. General purpose financial accounting C. special purpose financial accounting

    B. Tax Returns D. Management Reports

    D 10. These are costs that do not change in total amount within a relevant range
    of activity?
    A. Variable cost B. Fixed Cost C. Direct Cost D. Indirect Cost

    A 11. The writing down of business transactions in the official book of accounts .
    A. Summarizing B. Recording C. Interpreting D. Communication

    A 12. The statement of the result of operation of a certain business is called


    A. Income statement B. Cash Flow Statement C. Trial Balance D. Balance Sheet

    B 13. The initial activity or clerical part of accounting


    A. Taxation B. Accounting C. Bookkeeping D. Auditing

    D 14. A contract whereby two or more persons bind themselves to contribute


    money, property, or industry to a common fund, with the intention of dividing the
    profits among themselves.
    A. Sole Proprietorship B. Corporation C. Cooperatives D. Partnership

    B 15. They generally supervises the work of accounting clerks, help with daily
    accounting works, and summarizes accounting information.
    A. Accounting clerks B. Bookkeeper C. Accountant D. Auditor

    A 16. The accountant helps managers develop a budget or financial plan for the
    future.
    A. Controller B. Cost accountant C. Budget Officer D. Tax accountant

    A 17. They offer and provide services to clients on a fee basis, achieve
    professional recognition as CPA.
    A. Public Accountant B. Private Accountant C. Tax Accountant D. Auditor

    B 18. The process which provides explanation and develops relationships


    that give meaning to the information
    A. Summarizing B. Interpretation C. Recording D. Classifying

    C 19. A business that is owned and managed by one owner itself .


    A. Cooperative B. Corporation C. Sole Proprietorship D. Partnership

    C 20. A duly registered association of persons, with a common bond of interest,


    who have voluntarily joined together to achieve a lawful common social or
    economic end
    A. Sole Proprietorship B. Corporation C. Cooperatives D. Partnership

    II. Identification. Identify which of the words given below is asked on the given statement.
    Write your answer on

    Industrial Revolution The Present Cradle of Civilization Clay Tablet

    14th Century French Revolution 19th Century Mesopotamia

    3600 BC Economic Events Recording Accounting

    14th Century 1. Dissemination of double entry bookkeeping

    Cradle of Civilization 2. Record keeping was common in Mesopotamia

    French Revolution 3. Thorough study of accounting & development began

    19th Century 4. The beginning of modern accounting in Europe and America

    Industrial Revolution 5. Mass production & great importance of fixed assets

    The Present 6. Development of modern accounting standards & commerce

    Clay Tablet 7. Oldest evidence of accounting

    Accounting 8. The language of business

    Mesopotamia 9. This pertains to business transaction

    Recording 10. Involves in keeping of chronological diary of events


    Enumeration, identification and Essay

    1. Identify the elements of accounting as to its result of operation. (3


    points)

    Asset Revenue

    Liabilities Expenses

    Owner’s Equity Net income/Loss

    2. Give the five (5) accounting process of accounting.

    Idintification Sumarizing

    Recording Interpretation

    Classifying

    3. Name the major areas of accounting (3 points).

    Financial Accounting

    Management Accounting

    Government Accounting

    4. Identify the different services of the business in the private accounting? (6

    points)

    Accounting information system Budgeting

    General Accounting Tax Accounting

    Cost Accounting Internal Accounting

    5. Give the four (4) types of business according to activities?

    Service business- Barber shop

    Merchandising - Sari sari store

    Manufacturing- Bakery

    Hybrid business- Restaurant

    6. Identify at least 4 nature or basic features of accounting.

    Accounting is a service activity.

    Accounting is a process.

    Accounting is both an art and a discipline.

    Accounting is an information system.

    7. Why accounting is important for the business? (5 points)


    Accounting is very important for business. It heps you update you about
    financial position of the business for better decision making, By accounting
    you tend to know what decision are ideal for business , in order to move it
    to high profitability.

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