FABM

• Accounting


  The process of recording, classifying, 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
• Knowledge needed in the study of Accounting

  • Ability to identify and acquaint with its proper use on various business documents supporting the transactions before said transactions can be recorded in the book of accounts

  Ability to analyze the transactions and situational problem requirements

  Knowledge in Arithmetic

  Psychological factor "YES, I CAN"
• Accounting professionals


  • Accounting technicians

  Graduate/undergraduates of any business course

  Holders of baccalaureate degree in BSA

  Passed licensure examination for CPA
• Career Opportunities for CPAs

  • CPAs in Government Service

  CPAs in Commerce and Industry

  CPAs in Public Practice

  CPAs in Education
• Bookkeeping


  The process of recording systematically the business transactions in a chronological manner
• Importance of keeping records and documents of business

  Keep a diary which will record all the activities for the day and even for a year

  Book of accounts are records that should be kept by the business for that purpose

  Data recorded in book of accounts that are financial in character which are processed and transformed into a report form called financial statements

  A government requirement
• Accounting as the "LANGUAGE OF BUSINESS"


  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.
• Four functions of accounting

  • Recording

  Classifying

  Summarizing

  Interpreting
• Nature of Accounting


  Accounting is the language of business

  Accounting is an art

  Accounting is a service activity

  Accounting is a process