Republic of the Philippines

NUEVA VIZCAYA STATE UNIVERSITY

Bayombong, Nueva Vizcaya
INSTRUCTIONAL MODULE
IM No.:IM-ACCTG1-2NDSEM-2020-2021

College: College of Business Education

Campus : Bayombong Campus

DEGREE PROGRAM BSHM COURSE NO. BRG 5-A

SPECIALIZATION Hospitality COURSE TITLE Fundamentals of Accounting
Management
YEAR LEVEL 2nd Year TIME FRAME WK NO. IM NO. 01

I. UNIT TITLE/CHAPTER TITLE: INTRODUCTION TO ACCOUNTING

II. LESSON TITLE: Introduction to Accounting

III. LESSON OVERVIEW

This lesson provides the students an overview of Accounting. In this module, students will learn the
definition and functions of accounting. As well as the different branches, users of accounting and types of
businesses according to their activities.

IV. DESIRED LEARNING OUTCOMES:

After studying the lesson, the students should be able to:

1. define accounting;
2. give examples of branches of accounting;
3. state the function of accounting in a business;
4. differentiate between external and internal users of accounting information;
5. state the types of businesses according to their activities.

V. LESSON CONTENT

Lesson 1. Accounting Defined

Accounting is the art of recording, classifying, and summarizing in a significant manner and in terms of money,
transactions and events which are, in part at least, of a financial character, and interpreting the results thereof.

Accounting is a service activity. Its function is to provide quantitative information primarily financial in nature,
about economic entities that is intended to be useful in making economic decisions.

Accounting is the process of identifying, measuring and communicating economic information to permit informed
judgments and decisions by users of the information.
Accounting is an information system that measures, processes and communicates financial information about
an identifiable economic activity.

Lesson 2. Nature of accounting

Implicit in the definitions of accounting are the following characteristics of accounting:

1. A Service Activity. Accounting provides vital assistance through the making of financial reports
regarding the financial activities of economic entities. It helps users understand financial reports from
which to draw sound economic decisions.

2. A Process, an Art and a Discipline. Accounting involves identifying, measuring and communicating
economic information to make informed economic judgment.

3. The Language of Business. Accounting is the medium of communication through which financial
reports are furnished to different parties for decision making. It is a system that measures business
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activities, process information into reports and communicates the reports to the decision makers.
Accounting interprets and communicates the true status of the business in terms of its operating results
and financial condition.

4. The Eyes of the Business. Bookkeeping records, as the initial part of accounting activities, enable the
owner of a business to check on his financial progress. Adequate accounting assist the owner to
prepare plans for the future, avoid material mistakes, analyze the causes of changes that take place,
and draw the best choice among economic alternatives.

5. Accounting as Economic Detective. Auditing, as an advanced part of accounting activity, verifies the
truthfulness of the financial reports concerning the business performance or results of operation and
financial condition.

Lesson 3. Objective and Function of Accounting

The primary function of accounting is embodied in the definition of accounting provided by the Philippine
Accounting Standards where it states that its main function is “to provide quantitative information, primarily
financial in nature, about economic activities, that is intended to be useful in making economic decision.”

The basic function of accounting described in this definition of accounting provided by the American Accounting
Association as “to identify, measure and communicate economic information to permit informed judgment for an
economic decision.”

EVOLUTION OF ACCOUNTING

The origin of keeping accounts has been traced as far back as 8500 B.C., the date archaeologists have
established certain clay tokens - cones, disks, spheres and pellets - found in Mesopotamia. These tokens
represented such commodities as sheep, jugs of oil, bread or clothing and were used in the Middle East to keep
records. Later, symbols impressed on wet clay tablets replaced the tokens. Tablets recorded who brought in
the grain and how much the king took as his share. Even in the early days, tax collecting is an activity closely
linked to accounting. Some experts consider this stage of record keeping the beginning of the art of writing,
which spread rapidly along the trade routes and took hold throughout the known civilized world.

Development of more formal account-keeping methods is attributed to the merchants and bankers of Florence,
Venice and Genoa during the 13th to 15th centuries. The earliest of these methods consisted of accounts kept
by a Florentine banker in 1211 A.D. The system was primitive; accounts were not related in any special way
and balancing of accounts was lacking. However, systematic bookkeeping evolved from these methods and
double entry record first appeared in Genoa in 1340 A.D. Fra LuciaPacioli was regarded as the father of double-
entry accounting because of his work “Everything about Arithmetic, Geometry, Proportions et Proportionalita”
which was intended to summarize the existing knowledge of mathematics. A section of that explained in detail
the double-entry system of bookkeeping.

Accounting profession was closely tied to the rise of modern industrial society in Britain during the late 18 th
century. The growth of corporations during the Industrial Revolution spurred the development of accounting.
Corporate owners, or shareholders, were no longer managers of their business. Managers had to create
accounting systems to report to the owners the results of their stewardship of the business. This situation
created the need for an independent report to provide assurance that management’s financial representations
are reliable. Accountancy reached the shores of the United States of America as a natural result of the
investments being made by British business men into the land of opportunities.

Lesson 4. Accounting and the Non-Accountant

Whatever your job, whether you repair machines in a factory, teach children in a school, or nurse sick patients
in a hospital, you probably feel that you seem to spend all your time filling in forms and reading reports. Why?
Why can't you just go on with your job?

It is true that in many organizations there is now a large proportion of paperwork. It can get out of hand, but
usually there is a reason behind it all. A great deal of information that is collected may, for example, be required
by law. Some entities have a statutory obligation to publish, i.e. to make available for public inspection, a certain
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INSTRUCTIONAL MODULE
IM No.:IM-ACCTG1-2NDSEM-2020-2021

amount of information about their affairs. This process requires a considerable amount of material to be collected
about an entity's activities before it can be summarized in a form suitable for publication. In the previous section,
we referred to this process as financial accounting. As a manager, it may be somewhat tiresome for you to be
become involved in financial accounting, but if the entity is to comply with the law you have no option.

However, unless you are at a very senior level in the entity, it is unlikely that as a non-accountant you will be
directly involved in the detailed preparation of the financial accounts. You may have to supply some information,
but you will probably not be involved to any great extent. Until you become a senior manager, the type of
information that you have to provide is more likely to be needed for management accounting purposes.

There are two main reasons why you should study accounting:

1. To make sure that you follow legal requirements. As we have seen, some organizations are
required by law to disclose publicly information about their activities. The required information is
inevitably complex, it is normally written in a strange technical language, and it is often presented in a
highly prescribed format. The responsibility for complying with the law rests ultimately with the senior
management of the organization. While the accountant may help with the detailed preparation of the
accounts, the overall responsibility cannot be delegated to them. It follows that any non-accountant who
aspires to be a senior manager cannot avoid having to know something about this process; and

2. To help you do a better job. Larger organizations almost certainly have some form of detailed
internal information supply. You may be involved in both supplying and receiving it. Its purpose is to
help you and other managers do your respective jobs much more efficiently and effectively. It is
supposed to help you plan your department's activities, to monitor and to control them, and to provide
additional information about decisions you have to take about your department's affairs. This will often
be translated and reported to you in financial terms (although you will also receive some non-financial
information). It will not mean anything and you will not be able to use it if you do not understand it.
Furthermore, you certainly will not have been able to contribute to the development of the information
system so that it is of particular benefit to you.

I believe these arguments fully justify the time that you will be giving to the study of accounting. By the
time that you have worked your way through this book, I hope you will find, despite your initial fears,
that accounting can be both interesting and useful.

Lesson 5. The Accountancy Profession and Scope of Practice

THE ACCOUNTANCY PROFESSION

Accounting as a profession is relatively new. Accounting is a profession because it has the attributes required
of a profession, as shown below:

1. Mastery of a particular intellectual skill, acquired by training and education. Accounting requires
a person to finish a degree in Bachelor of Science in Accountancy and to pass a very rigorous
government examination administered by the Professional Regulatory Board of Accountancy. Only then
can he/she use the title “Certified Public Accountant” CPA.

2. Adherence by its members by its common code of values and conduct established by its
administering body, including maintaining an outlook which is essentially objective. The Code
of Ethics is mandatory for all CPAs. It provides guidance for CPAs whenever they encounter “what is
the right thing to do” situations.

3. Acceptance of duty to society as a whole. Investors, creditors, employers and other sectors of the
business community, as well as the government and the public at large rely on CPAs for sound financial
decisions.

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INSTRUCTIONAL MODULE
IM No.:IM-ACCTG1-2NDSEM-2020-2021

SCOPE OF PRACTICE OF ACCOUNTANCY IN THE PHILIPPINES

The practice of accountancy shall include, but not limited to, the following:

Practice of Public Accountancy

- Shall constitute in a person, be it his/her individual capacity, or as a partner or as a staff member in an

accounting or auditing firm, holding out himself/herself as one skilled in the knowledge, science and
practice of accounting, and as a qualified person to render services as a certified public accountant
(CPA); or offering or rendering, or both, to more than one client of a fee basis or otherwise, services
such as;
▪ the audit or verification of financial transaction and accounting records; or
▪ the preparation, signing, or certification for clients of reports of audit, balance sheet, and other
financial, accounting and related schedules, exhibits, statements or reports which are to be
used for publication or for credit purposes, or to be filed with a court or government agency, or
to be used for any other purpose; or
▪ the design, installation, and revision of accounting system; or
▪ the preparation of income tax returns when related to accounting procedures; or
▪ When he/she represents clients before government agencies on tax and other matters related
to accounting or renders professional assistance in matters relating to accounting procedures
and the recording and presentation of financial facts or data.

Practice in Commerce and Industry

- Shall constitute in a person involved in decision making requiring professional knowledge in the science
of accounting, or when such employment or position requires that the holder thereof must be a certified
public accountant.

Practice in Education/Academe

- shall constitute in a person in an educational institution which involve teaching of accounting, auditing,
management advisory services, finance, business law, taxation and other technically related subjects:
Provided, that members of the Integrated Bar of the Philippines may be allowed to teach business law
and taxation subjects.

Practice of Government

- shall constitute in a person who holds, or is appointed to a position in an accounting professional group
in government or in a government-owned and/or- controlled corporation, including those performing
proprietary functions, where decision making requires professional knowledge in the science of
accounting, or where a civil service eligibility as a certified public accountant is a prerequisite.

FUNDAMENTAL PRINCIPLES of ACCOUNTANCY PROFESSION

A professional accountant is required to observe the following fundamental principles:

Integrity. A professional accountant should be straightforward and honest in all professional and business
relationships. Integrity also implies fair dealing and truthfulness.

A professional accountant should not be associated with reports, returns, communications or other information
where they believe that the information:
a. Contains a materially false or misleading statement;
b. Contains statements or information furnished recklessly; or
c. Omits or obscures information to be included where such omission or obscurity would be misleading.

Objectivity. A professional accountant should not allow bias, conflict of interest or undue influence of others to
override professional or business judgments.

Professional Competence and Due Care. A professional accountant has a continuing duty to maintain
professional knowledge and skill at the level required to ensure that a client or employer receives competence
professional service based on current developments in practice, legislation and techniques. Competent

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INSTRUCTIONAL MODULE
IM No.:IM-ACCTG1-2NDSEM-2020-2021

professional service requires the exercise of sound judgment in applying professional knowledge and skill in the
performance of such service. Professional competence may be divided into two phases:
1. Attainment of professional competence.
2. Maintenance of professional competence.

Confidentiality. A professional accountant should respect the confidentiality of information acquired as a result
of professional and business relationships and should not disclose any such information to third parties without
proper and specific authority unless there is a legal or professional right or duty to disclose.

Professional Behavior. A professional accountant should comply with relevant laws and regulations and should
avoid any action that discredits the profession.

Lesson 6. Common Branches of Accounting

FIELDS OF ACCOUNTING

Accountancy and Accounting. Accountancy is a profession whose members are engaged in the collection of
financial data, the summary of that data, and then presentation of information in a form which helps recipients
take effective decisions. Accountancy is the term to describe the profession while accounting refers to the
subject.

Auditing. Auditing forms a most important part of accountancy. Once accounts have been prepared, they may
have to be checked in order to ensure that they do not present a distorted picture. The checking of accounts
and the reporting on them is known as auditing. Auditors are usually trained accountants who specialize in
checking accounts rather than preparing them.

Bookkeeping. Bookkeeping is a mechanical task involving the collection of basic financial data. The data are
first entered in special records known as books of accounts, and then extracted and summarized in the form of
a profit and loss account and a balance sheet. The bookkeeping procedures usually end when the basic data
have been entered in the books of accounts and the accuracy of each entry has been tested. At that stage, the
accounting function takes over. Bookkeeping is a routine operation, while accounting requires the ability to
examine a problem using both financial and nonfinancial data.

Cost Bookkeeping, Costing, and Cost Accounting. Cost bookkeeping is the process that involves the
recording of cost data in books of accounts. Cost accounting makes use of those data once they have been
extracted from the cost books in providing information for managerial planning and control.

Financial Accounting. Financial accounting is the more specific term applied to the preparation and
subsequent publication of highly summarized financial information. The information supplied is usually for the
benefit of the owners of entity, but it can also be used by management for planning and control purposes. It will
also be of interest to other parties, e.g. employees and creditors.

Financial Management. Financial Management is a relatively new branch of accounting that has grown rapidly
over the last 30 years. Financial managers are responsible for setting financial objectives, making plans based
on those objectives, obtaining the finance needed to achieve the plans, and generally safeguarding all the
financial resources of the entity. Financial managers are much more heavily involved in the management of the
entity than is generally the case with either financial or management accountants.

Management Accounting. Management accounting incorporates accounting data and adapts them for specific
decisions which management may be called upon to make. A management accounting system incorporates all
types of financial and nonfinancial information from a wide range of sources.

Taxation. Taxation is a highly complex technical branch of accounting. Accountants involved in tax work are
responsible for computing the amount of tax payable by both business entities and individuals.

Government Accounting. It is concerned with the identification of the sources and uses of resources consistent
with the provisions of city, municipal, provincial or national laws. The government collects and spends huge
amount of public funds annually so it is necessary that there is proper custody and disposition of these funds.

Lesson 7. Business Defined

A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both
to consumers.
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Business generally are administered to earn profit to increase the wealth of owners. These are the profit-oriented
type of businesses. These include food manufacturers, bookstores, gas stations and the like. On the other hand,
some business are non-profit oriented. A non-profit organizations an organization that uses surplus revenues to
achieve its goals rather than to distribute them as profit or dividends. While non-profit organizations are permitted
to generate revenues, they must be retained by the organizations for its self-preservation, expansion or plans.
Charitable institutions and some educational institutions are businesses that are non-profit oriented.

Lesson 8. Forms of Business Organization and its Activities

Any of the types of activities may be performed by a business organization be it a sole proprietor, a partnership
or a corporation. A business generally assumes one of the three forms of organization takes.

Sole proprietorship. This business organization has a single owner called the proprietor who generally is also
the manager. Sole proprietorships tend to be small service-type businesses (e.g. physicians, lawyers,
accountants) and retail establishments.

The owner receives all profits, absorbs all losses and is solely responsible for all debts of the business. From
the accounting viewpoint, the sole proprietorship is distinct form its proprietor. Thus the accounting records of
the sole proprietorship do not include the proprietor’s personal financial records.

Partnership. A partnership is a business owned and operated by two or more persons who bind themselves
to contribute money, property, or industry to a common fund, with the intention of dividing the profits among
themselves. Each partner is personally liable for any debt incurred by the partnership. Accounting considers
the partnership as a separate organization, distinct from the personal affairs of each partner.

Corporation. A corporation is a business owned by its stockholders. It is an artificial being created by operation
of law, having the rights of succession and the powers, attributes and properties expressly authorized by law or
incident to its existence. The stockholders are not personally liable for the corporation’s debt. The corporation
is a separate legal entity.

Cooperative. A cooperative is a business owned by its cooperators/owners. It is an organization of at least 15

persons with common bond of interest. Like a corporation, it exist for maximum of 50 years and its purpose is
to serve the need of its members.

Any of the types of activities below may be performed by a business organization be it a sole proprietorship, a
partnership or a corporation.

Service. Companies may perform services for a fee. Examples are accounting and audit firms, law firms,
beauty salons, recruitment agencies, etc.

Merchandising. Companies are involved in merchandising when they purchase goods that are ready for sale
and then sell these to customers. Examples are car dealers, clothing retail stores, supermarkets, etc.

Manufacturing. Companies do manufacturing when they buy raw materials, convert them into products, and
then sell the products to other companies or to final consumers. Examples are paper mills, steel mills, car
manufacturers, pharmaceutical companies, etc.

ASEAN 2015 ESTABLISHMENT AND MEMBER STATES

The Association of Southeast Asian Nations, or ASEAN, was established on Aug. 8, 1967 in Bangkok, Thailand,
with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN, namely:
Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam then joined on Jan. 7, 1984, Viet
Nam on July 28, 1995, Lao PDR and Myanmar on July 23, 1997 and Cambodia on April 30, 1999, making up
what is today the ten Member States of ASEAN.
Vision
What is ASEAN 2015? In a nutshell, the Vision: "a stable, prosperous and highly competitive ASEAN Economic
Region in which there is a free flow of goods, services, investment and a freer flow of capital, equitable economic

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development and reduced poverty and socio-economic disparities."

Opportunities

What are the opportunities? Ten member states with a 2013 population of 625 million. ASEAN is characterized by rising
incomes, young population, with combined gross domestic product (GDP) at current prices of US$2,399 billion or a GDP per
capita at current prices of US$3,839 and GDP growth rate of 5.1.

Four Pillars of Asean Economic Community

The ASEAN Community is comprised of three pillars, namely: the ASEAN Political- Security Community, ASEAN Economic
Community and ASEAN Socio-Cultural Community.
In turn, the ASEAN Economic Community (AEC is the blueprint) has four pillars. They are as follows: Single market and
production base (measures to ensure the free flow of goods, services, investment, capital, skilled labor, priority integration
sectors), competitive economic region (actions on competition policy, consumer protection, intellectual property rights,
infrastructure development, taxation, e-commerce), equitable economic development (SME development, initiative for
ASEAN integration) and integration into the global economy (coherent approach towards external economic relations,
enhanced participation in global supply networks).
What are the priority integration sectors? Goods (agro-based goods, automotive products, electronics/electrical, fisheries,
rubber-based goods, textiles/clothing and wood-based products). Services (air transport, e-ASEAN, health care services,
logistic, tourism).

ASEAN Framework Agreement on Services

ASEAN is a government-to-government cooperation. To realize its dreams, ASEAN has progressively entered into more
legally binding and institutionalized agreements through the adoption of the ASEAN Trade in Goods Agreement (ATIGA),
the ASEAN Comprehensive Investment Agreement (ACIA) and the ASEAN Framework Agreement on Services (AFAS).
AFAS aims to provide greater mobility of ASEAN professionals to provide their services in the region. This will require
rounds of negotiations to liberalize trade in services.

Mutual Recognition Arrangements and ASEAN Chartered Professional Accountant

MRAs (mutual recognition arrangements) are contracts between a National Accountancy Body (NAB) and Professional
Regulatory Authority (PRA) from countries that have signed the General Agreement on Trade in Services in 1995 allowing
professional service providers registered in signatory countries to be equally recognized in another signatory country. The
existing MRAs: for engineering (MRA 2005), nursing (MRA 2006), architectural (MRA 2007), medical (MRA 2009), dental
(MRA 2009), accountancy (MRA 2014) and surveying (MRA Framework 2009) services.
A Professional Accountant is eligible to apply through the Monitoring Committee of his Country of Origin, to be registered as
an ASEAN Chartered Professional Accountant (ACPA) on the ASEAN Chartered Professional Accountant Register
(ACPAR) subject to certain qualifications enumerated in Article 4 of the ASEAN MRA on Accountancy Services signed last
Nov. 13, 2014.
The Monitoring Committee shall assess the Professional Accountant according to the Guidelines on Criteria and Procedures
in Appendix II of the MRA; and guided by Appendix III in preparing an Assessment Statement for the purpose of the
application. It will then submit the application to the ASEAN Chartered Professional Accountant Coordinating Committee
(ACPACC). ACPACC shall have the authority to confer and withdraw the title of ACPA or ASEAN Chartered Professional
Accountant.
To practice in a host country, an ACPA need to apply to become a Registered Foreign Professional Accountant (RFPA).
Upon approval, the successful ACPA applicant shall be subject to the domestic regulations, be permitted to work as a
RFPA, not in independent practice, but in collaboration with designated Professional Accountants in the host country, within
such area of his own competency as may be approved by the NAB (in our case, the Philippine Institute of CPAs) and/or
PRA (the Professional Regulation Commission and the Board of Accountancy) of the host country.

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VI. LEARNING ACTIVITIES

If you have the opportunity to put up a business, what would it be and why?

Note: Disregard any financial restriction that you may have. Imagine you have the money you need to put up any
business you like. However, you need to consider any skills that you currently have or skills you are willing
to acquire. Such skills can be technical (e.g. Cooking skills, computer programming, art, music, mathematics,
gardening, carpentry, etc.? or non-technical (communication skills, people skills or “charisma”, street smart.
Also you need to consider the things or activities that make you happy.

Final Note: Be HONEST to yourself! You will be graded based on your honesty, so don’t just to impress your
teacher.

VII. ASSIGNMENT

Instruction: Before each statement, write TRUE if the statement is correct or FALSE if the statement is
incorrect.

1. A sole proprietorship is registered with the Department of Trade and Industry (DTI) rather than
with the Securities and Exchange Commission (SEC).
2. A corporation is registered with the Cooperative Development Authority (CDA).
3. A partnership business is registered with the Department of Trade and Industry (DTI) and the
Securities and Exchange Commission (SEC).
4. A grocery store is most likely to be considered a service business.
5. Businesses that engage in more than one type of business activity, such as selling goods and at
the same time offering services, are referred to as hybrid businesses.
6. A school is most likely to be considered a manufacturing business – the raw materials are the
students and the finished products are responsible and competent business professionals.
7. A car dealer, one who buys cars from car producers and sells them in their original state and
without further modifications, is most likely to be considered a trading business rather than a
manufacturing business.
8. A stockholder of a corporation is personally liable for the debts of the corporation.
9. A corporation is the easiest form of business organization to establish because there are fewer
legal requirements compared to the other forms of business organization.
10. You and your friend are members in a cooperative. You hold 1 share while your friend holds
10,000 shares. During members’ meetings, your friend can cast 10,000 votes while you can only
cast 1 vote.

VIII. EVALUATION

QUIZ 1. MULTIPLE CHOICE. Write the best answer beside the item number.

1. Which of the following is an appropriate definition of accounting?

a. A means of recording transactions and keeping records
b. Electronic collection, organization, and communication of vast amount of information
c. The interconnected network of subsystems necessary to operate a business
d. The measurement, processing, and communication of financial information about an identifiable
economics entity.

2. Accounting is a service activity. Its function is to provide

a. Qualitative information c. quantitative information
b. Quantitative and qualitative information d. none of the above

3. A professional accountant should be straightforward and honest in all professional and business
relationships. This is in consonance with the fundamentals principle of
a. Confidentiality c. integrity
b. Objectivity d. professional competence and due care

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educational purposes only and not for commercial distribution,”
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4. Which area of public accounting means the examination of financial statements by a CPA for the
purpose of expressing an opinion as to the fairness of the statements?
a. External auditing c. Internal Auditing
b. Management advisory services d. taxation

5. The basic purpose of accounting is

a. To measure the periodic income of the economics entity.
b. To provide information that the creditors of an economics entity can use in deciding whether to make
additional loans to the entity.
c. To provide quantitative information about a business enterprise that is useful in making rational
economics decision.
d. To provide the information that the managers of an economic entity need to control its operations.
6. Accountants employed by a particular business firm or on-for-profit organization, perhaps as chief
accountant, controller, or financial vice president, are said to engage in
a. General accounting c. practice in commerce and industry
b. Independent accounting d. public accounting

7. Carrying out professional responsibility diligently and in accordance with applicable technical and
professional standards is descriptive of the principle of
a. Independence c. integrity
b. Objectivity d. professional competence and due care

8. Which is not an attribute of accounting?

a. It is a service activity
b. It provides qualitative information
c. It is an art of recording, classifying, summarizing and interpreting
d. None of the above

9. Accountancy qualifies as a profession because

a. CPAs adhere to a Code of Ethics and are members of PICPA
b. CPAs have their own body language
c. All its members are Certified Public Accountants (CPAs)
d. All of the above

10. A highly complex technical branch of accounting that involves the computation of tax payable by both
business entities and individuals
a. Taxation c. Cost accounting
b. Financial Accounting d. Management accounting

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Bayombong, Nueva Vizcaya
INSTRUCTIONAL MODULE
IM No.:IM-ACCTG1-2NDSEM-2020-2021

IX. REFERENCES

Ballada, S. and Ballada, W. (2015). Accounting Fundamentals. Padre Campa St., Sampaloc, Manila:
Domdane Publishers & Made Easy Books

Ballda, W. (2015). Basic Accounting. Padre Campa St., Sampaloc, Manila: Domdane Publishers & Made
Easy Books

Beticon, J., Garcia, E., Ireneo, S., James,G.,(2013). Fundamentals of Accounting, Volume 1, (2013).

Lopez, R., (2015). Learning the Basics of ACCOUNTING (Simplified Procedural Approach-Near to Self-
teaching). Davao City, Philippines: MS LOPEZ Printing & Publishing

Macapilit, C., (2011). Worktext in Basic Accounting, Revised Edition(2011),

Sampaloc, Manila: Rex Bookstore Incorporated

Ong, Flocer Lao, (2012). Fundamentals of Accounting, Textbook for Beginners, Third Edition. South
Triangle Quezon City, Philippines: C & E Publishing, Inc.

Valencia, E. and Roxas, G. (2009). Basic Accounting Concepts, Principles, Procedures and Applications,
3rd Edition. Baguio City, Philippines: Valencia Educational Supply

e-RESOURCES

“In accordance with Section 185, Fair Use of Copyrighted Work of Republic Act 8293, the copyrighted works included in this material may be reproduced for
educational purposes only and not for commercial distribution,”
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