Fundamentals of Accountancy Business and Management 1 - Module 2
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Course
CPA
Institution
CPA
This is a K-12 Curriculum-based. This aims to help the learners in learning tha accounting topics in easier way. Its a step-by-step discussion of the Fundamentals of Accountancy Business and Managment 1- Module 2
fundamentals of accountancy business and management 1
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Second Semester S.Y. 2022-2023
MODULE 2
FUNDAMENTALS OF
ACCOUNTANCY, BUSINESS &
MANAGEMENT 1
, INTRODUCTION
To be successful, businesses must interact with countless customers' investors creditors, and
other groups. There is no known business that is established just to transact with itself. These
outside parties are the main sources of income and/or funds that key factors in determining if a
business will be profitable or not.
On the other hand, special purpose financial statements are usually produced based on the
requests of parties that have the capability to ask for accounting information directly from the
company. Some examples of such groups are the board of directors, managers, employees, and the
stockholders or owners (existing investors).
This distinction resulted in the broad groups of users of financial information: external users
and internal users. In the following sections, we will discuss and differentiate these two broad
groups. We will also give some examples of the people belonging in each group.
The learners demonstrate understanding of the external and
CONTENT internal users of financial information and accounting concepts
STANDARD: and principles.
The learners shall be able to solve exercises and problems on the
identification of users of information, type of decisions to be
PERFORMANCE
made, and type of information needed by the users and cite users
STANDARD:
of financial information and identify whether they are external or
internal users.
At the end of the lesson, the learners are expected to:
1. explain the varied accounting concepts and principles;
2. distinguish internal users from external users and give
examples;
3. solve exercises in the identification of the branches of
OBJECTIVES
accounting described through the types of services
rendered; and
4. solve exercise and problems on the identification of users
of information, types of business decision to be made, and
type of information needed by the users.
PRELIMINARY ACTIVITY
Identify at least five manufacturing businesses that you know within the
Philippines. Write where it could be found and describe what kind of products they
offered. Make a short description on it.
Manufacturing business in the Location Short description of the
Philippines business
1.
2.
3.
4.
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