Fundamentals of Accountancy, Business, and Management

Fundamentals of ABM-1 discusses the recording of financial transactions of entities in the service, retail, and other industries using the Double-entry bookkeeping system (a system which uses the tools debit and credit). An entity needs to register the Books of accounts (BOA) such as the General journal, General ledger, and other books and needs to maintain the recording of the financial transacti

ons as required by the Tax code. At the end of the year, a complete set of Financial statements are prepared for several purposes such as the responsibility of the management in providing financial information to the stakeholders, regulatory compliance, and other purposes. On the other hand, Fundamentals of ABM-2 discusses the various business forms which serve as evidence or bases in the recording of transactions in registers and journals. Special topics on Cash such as the Petty cash fund and the Bank reconciliation statement are likewise discussed. Moreover, the preparation of Income tax returns and the analysis of the Financial statements are discussed thoroughly so as to prepare the learners in the completion of an Integration case. This case enables the learners to apply the steps in the accounting cycle including the preparation of the Financial statements (FS) and Income tax return (ITR) of a sole-proprietorship business.