Accounting

Assignment

Name: Villegas, Rosemarie G. Score:

Course/Year/Section: BSBA-FM 1 blk 3 Date:

1. What area would you chose among the Four Areas of Accounting and explain the
importance of that specific area in the development of the society. (At least 100 words)

I’m choosing Government Accounting among the four areas of Accounting which
is the process of recording, analyzing, classifying, summarizing, communicating and
interpreting in the financial information about government, reflecting transaction involving
making payments, settling liabilities, colleting sums due, buying and selling assets. I
think that it is important in a way that it helps us developing our society in managing and
balancing the uses of our money so that we won’t suffer financially. Also, it identifies the
sources and the use of resources consistent with the needs of city, provincial or nation
law. They collect and spend a lot of money of public funds yearly so it needed to have a
proper care and disposition of the funds.

2. Give an Example of a Business Firm found in the Philippines under the following nature:

a. Service – GMA

b. Merchandising – Super Markets

c. Manufacturing - Republic Biscuit Corporation (Rebisco)

d. Financial – Banko Sentral ng Pilipinas (BSP)

e. Agriculture – Nestle Philippines, Del Monte