Roxine C.

Batulanon
BSMA-1

1. We study accounting because it is the process of recording financial transactions to a business. Since
running a business includes recording business transaction, posting using ledgers, summarizing entities, and
interpreting financial statements. The processes mentioned are essential in business that are present in accounting.

2. Accounting is needed in business because it is the backbone of business. Its role is to track a company’s
finances in their numerous forms. Examples are tracks income and expenditures.

3. Accounting begins where bookkeeping ends means that an accountant comes into the picture only when the
bookkeeper has done its job in bookkeeping. Like journalising, posting ledger, totaling of differents accounts in the
ledger and balancing. After it the accountant checks the work of the bookkeeper, preparations and lastly the passing
of the ratufication entries and making adjustments.
4. If I will become a CPA, I would choose financial accounting. Because it primarily handles the recording of
financial transactions of a business.

5. If I will be given an opportunity to start a business, I would choose a Corporation type of business
according to ownership. Because it has greater flexibility in raising capital through sale of stock and ease in
transferring ownership by selling stock. Even though it has a high chance of conflicts between directors and
shareholders.
As of business according to activities I would choose Servicing. Because the business renders services to clients for
a fee. I choose servicing because it feels like your helping people while doing the job.