Introduction to BAINTE1L:

INTEGRATED ACCOUNTING FUNDAMENTALS (WITH SAP)

Arzell T. Aterrado, CPA, MBA

Introduction to the Course
What is BAINTE1L?
What is
BAINTE1L?
What is BAINTE1L?
BAINTE1L is the course code for INTEGRATED ACCOUNTING FUNDAMENTALS (WITH SAP).

This is a 6-units introductory course in accounting that will develop learner’s

appreciation of Accounting as the “Language of Business” and provide knowledge
about the basic accounting principles and concepts that will help them in
analyzing, recording and summarizing business transactions and events.

Learners will also obtain an understanding of the nature, business transactions,

financial statements and peculiar accounting problems of different types of
business operations like service, merchandising and manufacturing businesses. It
also covers the following: special journals and payroll accounting.
 Topic 1: The Accounting Topic 2: Analyzing Topic 3: Accounting for
Environment and Transactions Service Business
Accounting Framework

Course
Contents
Topic 4: Adjusting Topic 5: Financial Topic 6: Accounting for
Entries and Worksheet Statement Presentation, Merchandising Business
Preparation Closing Entries, (with Payroll
Reversing Entries Accounting)
 What is
Accounting?
What is Accounting?
• Accounting is a service activity. Its function
is to provide quantitative information,
primarily financial in nature, about economic
entities that is intended to be useful in making
economic decisions.
What is Accounting?
• It is the art of recording, classifying,
and summarizing, in a significant manner
and in terms of money, transactions and
events which are, in part at least, of a
financial character, and interpreting the
results thereof.
The Accounting Equation
 The Accounting Equation
ASSETS
• ASSET - a resource controlled by the
entity as a result of past events
and from which future economic
benefits are expected to flow to the
entity
= LIABILITIES + EQUITY
• LIABILITY - a present obligation of
the entity arising from past events,
the settlement of which is expected
to result in an outflow from the
entity of resources embodying
economic benefits.
• EQUITY - the residual interest in
the assets of the entity after
deducting all its liabilities.
The Accounting
Cycle
The Accounting Analyzing
transactions

Reversing Recording to

Cycle entries the journal

• The accounting cycle is a Post-closing Posting to

trial balance the ledger
holistic process that
records a business's
transactions from start to
finish, helping businesses
stay organized and Closing the Unadjusted
efficient. books trial balance

Preparation
Worksheet and
of the
adjusting
financial
entries
statements
Adjusted
trial balance
Accountancy in the
Philippines
Accountancy in the Philippines
• Republic Act 9298, known as the Philippine Accountancy Act of 2004, is the law governing the
practice of accountancy in the Philippines.

• The practice of accountancy shall include:

1. Practice of Public Accountancy

 Shall constitute in a person, be it his/her capacity, or a a partner or as a staff member in an accounting or
auditing firm, holding out himself/herself as one skilled in the knowledge, science and practice of
accounting, and as a qualified person to render professional services as a Certified Public Accountant (CPA);
or offering or rendering, or both, to more than one client on a fee basis or otherwise, services such as:
a. the audit verification of financial transaction and accounting records
b. the preparation, signing, or certification for clients of reports of audit, balance sheet, etc.
c. the design, installation, and revision of accounting system
d. the preparation of income tax returns when related to accounting procedures
e. when he/she represents clients before government agencies on tax or other matters related to accounting
etc.
Accountancy in the Philippines
2. Practice in Commerce and Industry
 Shall constitute in a person involved in decision making requiring professional knowledge in the science
of accounting, or when such employment or position requires that the holder thereof must be certified
public accountant.

3. Practice in Education/Academe
 Shall constitute a person in an educational institution which involve teaching of accounting, auditing,
management advisory services, finance, business law, taxation, and other technically related subjects.

4. Practice in Government
 Shall constitute in a person who holds, or is appointed to, a position in accounting professional group
in government or in a government-owned and/or –controlled corporation, including those performing
proprietary functions, where decision making requires professional knowledge in the science of
accounting, or where a civil service eligibility as certified public accountant.
• The class will be divided into four groups. Each group will be assigned one Sector of
Accountancy.

• Conduct a quick research on your assigned sector. Prepare a ten-minute presentation

containing the following:
+ A brief description of the sector
+ Main differences in comparison with the other sectors
+ Common career paths, job titles and job description within the sector
+ Possible advantages and disadvantages compared to the other sectors

• You can use the remaining two hours of today’s meeting for this. To be presented next
synchronous class on Friday.

CLASS ACTIVITY!
 1 ABELCRUZ, ELCHI MARA JAVIER 19 MANASIS, ERIKA RUAYA
2 ABRIGO, CAMILE ROSAS 20 MANCERAS, JOSEPHOS REY TAMPUS
3 ACHUELA, AARON JAVEZ 21 MARALIT, ELLYZA JOY HECHANOVA
4 BATICA, MARIELLA LOUISE 22 MARAVILLA, JUSTINE LLOYD OCAMPO
5 BECHAYDA, ROSE MARIE MONIEVA PUBLIC PRACTICE 23 MASULA, CRISNELLE EDUCATION / ACADEME
6 BERCASIO, ALEXANDRIA CARPIO 24 MICABANI, KATRINE CLEIANE BULAC
7 BRITO, ANDREA SOPHIA NICOLE RINOWA TRINITY DAYAO 25 MIJARES, ERICA CRISTINE PROTESTA
8 BRUTAS, ANGEL FRANCHESKA HERBOLARIO 26 MONARES, JEZRELLE VELASCO
9 BUENDICHO, VANESSA ROSE ESTAREJA 27 MORALES, ANNE PAOLINE ABASOLA
10 CASTAÑEDA, JENNYVIC ORIT 28 OGALE, MIARETTE CASTILLO
11 CUATERNO, YASMIN NICOLE MENDOZA 29 PABLO, LILOVELY CHARIZ BARLIZO
12 CUISON, FAYE ALYSSA DELESO 30 PAREDES, ADRIANA MARIE GERMANO
13 DATUL, ISRAEL JACOB JOHN ORILLO 31 PASION, EZEKIEL JABAGAT
14 DE LEON, HONEY LHEY GERMAR COMMERCE AND INDUSTRY 32 ROMERO, CEAN CHAZZI FLORES GOVERNMENT
15 DELA PEÑA, MARIAN FAYE SANTOS 33 SALUDES, IVY NOJOR
16 DIMAL, JOHN LUIS SAMANIEGO 34 SO, ANNA ABEGAIL BASINAN
17 FELIZARDO, HEILLY JADE BORROMEO 35 UGAY, HAZELLE ANN MIRANDA
18 FERNANDO, JHON KALE MARIQUINA

CLASS ACTIVITY!