Prayer - Rosarian

Our Lord and our God

Come fill us with Your holy presence and divine love
We, of the Holy Rosary Academy stand in awe of You.

We adore You. We praise You.

We thank You for the many blessings You have showered
on our school and our school community.
We are grateful for the continuing strength, wisdom and
resources to pursue our dreams for a better tomorrow.

Lord make each of us Rosarians – a better person each day

so together we can make a difference in our family,
our community, our country and the world.
We entrust to You our lives and Holy Rosary Academy as a
whole.
In Jesus Name we pray. Amen
 Ms. Cath

ONLINE CLASS
GRADE 12 – FUNDAMENTALS OF ACCOUNTANCY,
BUSINESS, AND MANAGEMENT 2
ONLINE CLASS
2. You can use
GUIDELINES
the 1. Turn 3. Microphones
“raise your on your will be remained
hand” button but cameras turned off unless
be aware that permissions were
questions and .. 5. given by the
clarifications will Avoid teacher.
be entertained
after the 4. Screen any
discussions.
sharing is kind of
prohibited
for distract
students. ions.
 Holy Rosary Academy of Las Pinas City
PHILOSOPHY
Education that is founded on love and respect of the SUPREME BEING superimposes on the learner
the values that predicate academic excellence.

VISION
A school for virtue centered leadership.

MISSION
Developing lifelong learners and leaders with character and competence.

SLOGAN
At HRA, every learner is a leader.

OBJECTIVES
1. To guide the learner towards a learning experience with God on top of all undertakings.
2. To inculcate learning and working habits which are essential in the pursuit of excellence and recognition.
3. To maximize physical and mental capabilities of the learner toward attaining self-fulfillment and success.
4. To enhance the learner’s interpersonal and academic skills that would ensure his competency and global
competitiveness.
Online Classroom Rules

1. Find a comfortable and quiet place to study.

2. Be prepared and on time on your scheduled online class.
3. Turn off your microphone when it is not your time to speak.
4. Screen sharing is prohibited for students.
5. You can use the “raise your hand” button but be aware that questions or clarifications will be entertained
after the discussion.
6. Keep your camera turned on so that your teacher and classmates can see you, otherwise, you will be marked
absent.
7. Respect your teachers and classmates.
8. Post only relevant messages and comments.
9. Stay focused and disciplined.
10. Check always your inbox for any announcements from your teacher.
11. Submit outputs and requirements on time.
12. Participate actively.
13. Don’t hesitate to ask questions on things you don’t understand.
7 Habits
FINANCIAL STATEMENT

NORIEL F. GREGORIO
 1 Statement of
Financial Position

0 2 Statement of Comprehensive Income

9 1
3 Statement of Changes in Equity
8 2
a
4 Statement of Cash Flows
7 3 5
Notes to Financial Statements
6 4
5

COMPLETE SET OF FINANCIAL

STATEMENTS
 ELEMENTS OF FINANCIAL STATEMENTS

o Assets

-are what the business owns.

-resources owned and controlled by the company

-resources controlled by the enterprise as a result

of past events and from which future economic
benefits are expected to flow to the enterprise
 ELEMENTS OF FINANCIAL STATEMENTS

o Liability

-is what the business owes or claims against

assets

-is a present obligation of the enterprise arising

from past events, the settlement of which is
expected to result in an outflow of resources from
the enterprise embodying economic benefits
 ELEMENTS OF FINANCIAL STATEMENTS

o Equity

-is what the business is worth

-is the residual interest or remainder of the asset of

the enterprise after deducting all its liabilities
 ELEMENTS OF FINANCIAL STATEMENTS

o Income

-these are increases in economic benefits during

the accounting period in the form of inflows or
enhancements of assets or decreases of liabilities
that result in increases in equity, other than those
relating to contributions from equity participants
 ELEMENTS OF FINANCIAL STATEMENTS

o Expenses

-these are decreases in economic benefits during

the accounting period in the form of outflows or
depletions of assets or incidences of liabilities that
result in decreases in equity, other than those
relating to distributions to equity participants
 1. Statement of Financial Position (SFP)

o Also called BALANCE SHEET

o Reports the permanent accounts as of the end of an
accounting period

o A financial statement that summarizes a company’s

assets, liabilities and shareholder’s equity at a specific
point in time. These three balance sheet segments give
investors as to what the company owns and owes.
 Classification of Balance Sheet Accounts

o CURRENT ASSETS
1. It is expected to be realized, or is intended for sale or consumption
within the entity’s normal operating cycle.

2. It is held primarily for the purpose of being traded.

3. It is expected to be realized within 12 months after the Balance Sheet

date.

4. It is cash or a cash equivalent unless it is restricted from being

exchanged or used to settle a liability for at least 12 months after the Balance
Sheet date.
 Classification of Balance Sheet Accounts

o NON-CURRENT ASSETS
1. An asset which is not easily convertible to cash or not
expected to become cash within one year.

2. All other assets not classified as current.

 Classification of Balance Sheet Accounts

o CURRENT LIABILITIES
1. It is expected to be settled in the entity’s normal operating
cycle.

2. It is held primarily for trading.

3. It is expected to be settled within 12 months after the Balance

Sheet date.

4. The entity does not have an unconditional right to defer

settlement of the liability for at least 12 months after the Balance
Sheet date.
 Classification of Balance Sheet Accounts

o NON-CURRENT LIABILITIES
1. A business’ long term financial obligations that are not
due within the present accounting year.

2. All other liabilities not classified as current.

 1. Statement of Financial Position (SFP)

SFP or Balance Sheet contains the following:

A. The Heading
1. Name of the Business
2. Title of the Report
3. Date of Report (specific date)
4. Currency
Example:
ABC Trading Company
Statement of Financial Position
December 31, 2020
B. The Asset Section
C. The Liability Section
D. The Owner’s Equity Sectio
 FORMS OF STATEMENT OF FINANCIAL
POSITION OR BALANCE SHEET

1. REPORT FORM (vertical form)

ABC Company
Statement of Financial Position
As of December 31, 2020

Assets P100.00
Total Assets P100.00

Liabilities P 25.00
Owner’s Equity P 75.00
Total Liabilities & OE P100.00
 FORMS OF STATEMENT OF FINANCIAL
POSITION OR BALANCE SHEET

2. ACCOUNT FORM (horizontal form)

ABC Company
Statement of Financial Position
As of December 31, 2020

LEFT RIGHT
Assets P100 Liabilities P25
Owner’s Equity 75

Total AssetsP100Total Liabilities & OE P100

 LINE ITEMS TO BE INCLUDED IN THE FACE OF THE
BALANCE SHEET (SOLE PROPRIETORSHIP)

ASSETS
o Cash and cash equivalents
o Trade and other receivables
o Inventories
o Biological assets
o Investments
o Financial Assets
o Investment Property
o Property, plant and equipment
 LINE ITEMS TO BE INCLUDED IN THE FACE OF THE
BALANCE SHEET (SOLE PROPRIETORSHIP)

LIABILITIES
o Trade and other payables
o Provisions
o Financial Liabilities
o Liabilities for taxes

OWNER’S EQUITY
ASSIGNMENT:

o From the Trial Balance provided

as of Dec. 31, 2020, prepare a
Statement of Financial Position
using:

a. Report Form
b. Account Form
REFERENCES:

o Ferrer, Rodiel C. "Fundamentals of

Accountancy, Business & Management 2"
Series of 2017

o Frias, Solita A. "Fundamentals of

Accountancy, Business & Management 2"
Series of 2017

o Valix, Conrado T. "Practical Accounting 1"

THANK YOU!