Gerard Dean Embog
12GAS
ABM 1
Exercise 1
Career in Accounting Roles
Auditing Conduct periodic check ti
clients and statement
Financial Accounting Keeps track of a company’s
financial transactions
Management Accounting Provides regular reports
containing essential
information which is vital to
achieving company’s
competitive advantage
Government Accounting Takes into account collection
of taxes, computation of
National Income, fixing of
Gross National Product
(GNP), ascertaining the
Balance of Payments, among
others
Tax Accounting Tax accountants ensure that
companies and individuals
comply with tax laws by filing
their federal and state
income tax returns
Cost Accounting Cost accounting enables
management to accurately
ascertain costs by factoring
in both variable and fixed
costs. It assists in the cost
assessment of all facets of
business including the cost or
processes, products,
projects, and contracts by
relying on the use of various
techniques such as job
costing and process costing
Accounting Education The aim of accounting
education is to help students
learn to learn to become
professional accountants.
The teacher should often mix
theory with practice (the why
and the how), and often
indicate the contact of the
course with non-accounting
courses.
Accounting Research The Research Accountant
works with appropriate
functional areas to review,
and develop, policies and
procedures, to ensure
compliance with applicable
regulatory requirements,
Responsibilities
Maintain public trust and
exhibit ethical behaviors
Provide information for others
to evaluate the worth of a
business themselves
To assist in the task at hand
related to cost and control,
budgetary and planning
functions and a lot more
Analyze financial reports to
determine where government
organizations can cut costs
and dedicate more funds.
Monitor employee payroll
A Tax Accountant is
responsible for assisting
clients and companies with
their financial and income tax
statements.
A Cost Accountant is
responsible for the reduction
of a company’s financial
waste and increasing profits.
Duties include determining
actual costs of manufacturing
or providing a service,
scrutinizing associated
company expenses,
analyzing profitability and
preparing the company
budget
Educates students in the field
of accountancy.
Adds to the knowledge of
accountancy.
Responsible for analyzing
financial information and
performing a variety of
accounting duties associated
with the timely and accurate
preparation and reporting of
financial data
Unit Activity 1

The branch of accounting that is present in the business establishment that I chose is Cost Accounting.

Scenario:
Julius T. Matiga is the store owner of EA General Merchandise. He is responsible for handling and
determining the cost of products that is sold in his store. Which he bought at other business
establishments like Prince Hypermart, Gaisano Ormoc, APL Store, and Panel trucks that also sells
other products. He computes the cost of each products and decide how much will he mark up on the
product to gain a good profit to his business.

Exercise 1
Company Name Service Trading Manufacturing
1. Mercury Drug Store ✔
2. Jerry’s Grill ✔
3. Manila Electric Company ✔
4. Globe Telecom ✔
5. St. Scholastica’s College ✔
6. National Book Store ✔
7. Nestle, Philippines ✔
8. Philippine Airlines ✔
9. Robinsons Department Store ✔
10.Unilever, Philippines ✔

Exercise 2
Name of Establishment Business Activity Form of Ownership

1. EA General Merchandise Merchandising Sole Proprietorship

2. Zhelbert Store Merchandinsing Sole Proprietorship

3. Prince Hypermart Merchandising Sole Proprietorship

4. Sophia’s Bakeshop Merchandising Sole Proprietorship

5. The Generics Pharmacy Merchandisning Sole Proprietorship

6. Canora Pharmacy Merchandising Sole Proprietorship

7. 4 Brot’s Store Merchandising Sole Proprietorship

8. LIDE Learning Center, Inc Service Corporation

9. PHILPHOS Manufacturing Corporation

10. PASAR Corp. Manufacturing Corporation

Unit Activity
Business Establishment: EA General Merchandise
Owner: Julius Cesar T. Matiga

a. )Type of Business According to Ownership

Sole Proprietorship is the form of ownership of EA General Merchandise.
Here are some evidences that will prove that it is a sole proprietorship
b. ) Type of Business According to Activities
Merchandising is the type of business according to activities.
Here are some evidences that will prove that it is a merchandising business establishment.