Teaching Guide for Senior High School FUNDAMENTALS OF ACCOUNTANCY, BUSINESS, AND MANAGEMENT 1 PDF

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Teaching Guide for Senior High SchoolFUNDAMENTALS OFACCOUNTANCY,BUSINESS, ANDMANAGEMENT 1SPECIALIZED SUBJECT | ACADEMIC - ABMThis Teaching Guide was collaboratively developed and reviewed byeducators from public and private schools, colleges, and universities. Weencourage teachers and other educatio...

Description

The Commission on Higher Education in collaboration with the Philippine Normal University

Teaching Guide for Senior High School

FUNDAMENTALS OF ACCOUNTANCY, BUSINESS, AND MANAGEMENT 1 SPECIALIZED SUBJECT | ACADEMIC - ABM This Teaching Guide was collaboratively developed and reviewed by educators from public and private schools, colleges, and universities. We encourage teachers and other education stakeholders to email their feedback, comments, and recommendations to the Commission on Higher Education, K to 12 Transition Program Management Unit - Senior High School Support Team at [email protected]. We value your feedback and recommendations.

Development Team Team Leader: Joselito G. Florendo. Writers: Carlsberg S. Andres, Arthur P. Barrido, Jr.,! Christopher B. Honorario Technical Editor: Daniel Vincent H. Borja Copy Reader: Fermin J. Villegas Cover Artists: Paolo Kurtis N. Tan, Renan U. Ortiz

Published by the Commission on Higher Education, 2016! Chairperson: Patricia B. Licuanan, Ph.D. Commission on Higher Education! K to 12 Transition Program Management Unit! Office Address: 4th Floor, Commission on Higher Education, C.P. Garcia Ave., Diliman, Quezon City! Telefax: (02) 441-0927 / E-mail Address: [email protected]

Senior High School Support Team! CHED K to 12 Transition Program Management Unit Program Director: Karol Mark R. Yee Lead for Senior High School Support:! Gerson M. Abesamis Lead for Policy Advocacy and Communications:! Averill M. Pizarro

Consultants THIS PROJECT WAS DEVELOPED WITH THE PHILIPPINE NORMAL UNIVERSITY.!

University President: Ester B. Ogena, Ph.D.! VP for Academics: Ma. Antoinette C. Montealegre, Ph.D.! VP for University Relations & Advancement: Rosemarievic V. Diaz, Ph.D. Ma. Cynthia Rose B. Bautista, Ph.D., CHED! Bienvenido F. Nebres, S.J., Ph.D., Ateneo de Manila University! Carmela C. Oracion, Ph.D., Ateneo de Manila University! Minella C. Alarcon, Ph.D., CHED Gareth Price, Sheffield Hallam University! Stuart Bevins, Ph.D., Sheffield Hallam University

Course Development Officers:! Danie Son D. Gonzalvo, John Carlo P. Fernando Teacher Training Officers:! Ma. Theresa C. Carlos, Mylene E. Dones Monitoring and Evaluation Officer:! Robert Adrian N. Daulat Administrative Officers: ! Ma. Leana Paula B. Bato, Kevin Ross D. Nera, Allison A. Danao, Ayhen Loisse B. Dalena Printed in the Philippines by EC-TEC Commercial, No. 32 St. Louis Compound 7, Baesa, Quezon City, [email protected]

This Teaching Guide by the Commission on Higher Education is licensed under a Creative Commons AttributionNonCommercial-ShareAlike 4.0 International License. This means you are free to: Share — copy and redistribute the material in any medium or format Adapt — remix, transform, and build upon the material. The licensor, CHED, cannot revoke these freedoms as long as you follow the license terms. However, under the following terms: Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. NonCommercial — You may not use the material for commercial purposes. ShareAlike — If you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.

Introduction As the Commission supports DepEd’s implementation of Senior High School (SHS), it upholds the vision and mission of the K to 12 program, stated in Section 2 of Republic Act 10533, or the Enhanced Basic Education Act of 2013, that “every graduate of basic education be an empowered individual, through a program rooted on...the competence to engage in work and be productive, the ability to coexist in fruitful harmony with local and global communities, the capability to engage in creative and critical thinking, and the capacity and willingness to transform others and oneself.” To accomplish this, the Commission partnered with the Philippine Normal University (PNU), the National Center for Teacher Education, to develop Teaching Guides for Courses of SHS. Together with PNU, this Teaching Guide was studied and reviewed by education and pedagogy experts, and was enhanced with appropriate methodologies and strategies. Furthermore, the Commission believes that teachers are the most important partners in attaining this goal. Incorporated in this Teaching Guide is a framework that will guide them in creating lessons and assessment tools, support them in facilitating activities and questions, and assist them towards deeper content areas and competencies. Thus, the introduction of the SHS for SHS Framework.

SHS for SHS Framework

The SHS for SHS Framework, which stands for “Saysay-Husay-Sarili for Senior High School,” is at the core of this book. The lessons, which combine high-quality content with flexible elements to accommodate diversity of teachers and environments, promote these three fundamental concepts:

SAYSAY: MEANING

HUSAY: MASTERY

SARILI: OWNERSHIP

Why is this important?

How will I deeply understand this?

What can I do with this?

Through this Teaching Guide, teachers will be able to facilitate an understanding of the value of the lessons, for each learner to fully engage in the content on both the cognitive and affective levels.

Given that developing mastery goes beyond memorization, teachers should also aim for deep understanding of the subject matter where they lead learners to analyze and synthesize knowledge.

When teachers empower learners to take ownership of their learning, they develop independence and selfdirection, learning about both the subject matter and themselves.

Parts of the! Teaching Guide

This Teaching Guide is mapped and aligned to the DepEd SHS Curriculum, designed to be highly usable for teachers. It contains classroom activities and pedagogical notes, and is integrated with innovative pedagogies. All of these elements are presented in the following parts: 1. • • • • • 2. • • • • 3. • • • • • 4. • • • • 5. • • • • 6. • •

Introduction Highlight key concepts and identify the essential questions Show the big picture and concept maps Present the relevant vocabulary Connect and review prerequisite knowledge Clearly communicate learning competencies and objectives Motivation Give local examples and applications Engage in a game or movement activity Provide a hands-on/laboratory activity Connect to a real-life problem Instruction/Delivery Give a demonstration/lecture/simulation/hands-on activity Show step-by-step solutions to sample problems Use multimedia and other creative tools Give applications of the theory Focus on a specific story using the case study method Practice Discuss worked-out examples Provide easy-medium-hard questions Give time for hands-on unguided classroom work and discovery Use formative assessment to give feedback Enrichment Provide additional examples and applications Introduce extensions or generalisations of concepts Encourage analysis through higher order thinking prompts and reflection questions Allow pair/small group discussions to summarize and synthesize the learnings Evaluation Supply a diverse question bank for written work and exercises Provide alternative formats for student work: written homework, journal, portfolio, group/individual projects, student-directed research project

K to 12 BASIC EDUCATION CURRICULUM SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM) SPECIALIZED SUBJECT

Semester: 2nd Semester No. of Hours/ Semester: 80 hours/ semester

Grade: 11 Course Title: Fundamentals of Accountan cy, Business and Management 1

Course Description: This is an introductory course in accounting, business, and management data analysis that will develop students’ appreciation of accounting as a language of business and an understanding of basic accounting concepts and principles that will help them analyze business transactions. CONTENT 1. Introduction to Accounting

CONTENT STANDARDS

PERFORMANCE STANDARDS

The learners demonstrate an The learners shall be able to… understanding of… the definition, nature, function, and history of accounting

LEARNING COMPETENCIES

The learners … 1.

cite specific examples in which 2. accounting is used in making business decisions 3. 4.

2. Branches of Accounting

3. Users of Accounting Information

define accounting

ABM_FABM11IIIa-1

describe the nature of accounting

ABM_FABM11IIIa-2

explain the functions of accounting in business

ABM_FABM11IIIa-3

narrate the history/origin of accounting

ABM_FABM11IIIa-4

the varied branches and areas 1. make a list of business within the community on the types of of accounting, particularly 1. differentiate the branches accounting services they require 1. financial accounting of accounting 2. management accounting 2. solve exercises in the identification of the branches of accounting 3. government accounting described through the types of 4. auditing services rendered 5. tax accounting 2. explain the kind/type of 6. cost accounting services rendered in each 7. accounting education of these branches 8. accounting research the external and internal 1. solve exercises and problems on the 1. define external users and users of financial information identification of users of information, gives examples type of decisions to be made, and type of information needed by the 2. define internal users and users give examples 2. cite users of financial information

K to 12 Senior High School ABM Specialized Subject – Fundamentals of Accountancy, Business and Management 1 May 2016

CODE

ABM_FABM11IIIa-5

ABM_FABM11IIIa-6

ABM_FABM11IIIa-7 ABM_FABM11IIIa-8 Page 1 of 7

K to 12 BASIC EDUCATION CURRICULUM SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM) SPECIALIZED SUBJECT

CONTENT

CONTENT STANDARDS

PERFORMANCE STANDARDS and identify whether they external or internal users

LEARNING COMPETENCIES are 3.

4.

4. Forms of Business Organizations

5. Types of Business According to Activities

6. Accounting Concepts and Principles

7. The Accounting Equation

the various forms of business organization, as follows: 1. sole / single proprietorship 2. partnership 3. corporation 4. cooperatives

1. differentiate the forms of business organization in terms of nature of ownership 2. make a list of existing business entities in their community and identify the form of business organization

the types of business 1. differentiate the types of business according to activities, according to activities particularly: 2. make a list of businesses in 1. service business their community according to 2. merchandising business their activities 3. manufacturing business accounting principles

concepts

the accounting equation

and

identify generally accepted accounting principles

solve problems applying the accounting equation

K to 12 Senior High School ABM Specialized Subject – Fundamentals of Accountancy, Business and Management 1 May 2016

identify the type of decisions made by each group of users describe the type of information needed by each group of users

1. differentiate the forms of business organization 2. identify the advantages and disadvantages of each form 1. compare and contrast the types of business according to activities 2. identify the advantages, disadvantages, and business requirements of each type 1. explain the varied accounting concepts and principles 2. solve exercises on accounting principles as applied in various cases 1. illustrate the accounting equation

CODE ABM_FABM11IIIa-9 ABM_FABM11IIIa-10 ABM_FABM11IIIb-11 ABM_FABM11IIIb-12 ABM_FABM11IIIb-13 ABM_FABM11IIIb-14 ABM_FABM11IIIb-c-15 ABM_FABM11IIIb-c-16 ABM_FABM11IIIb-c-17

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K to 12 BASIC EDUCATION CURRICULUM SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM) SPECIALIZED SUBJECT

CONTENT

8. Types of Major Accounts

9.

Books of Accounts

10. Business Transactions and Their Analysis As Applied to the Accounting Cycle of a Service Business a. Rules of Debits and Credits b. Journalizing c. Posting

CONTENT STANDARDS

PERFORMANCE STANDARDS

LEARNING COMPETENCIES

the five major accounts, define, identify, and classify accounts namely, according to the five major types 1. assets 2. liabilities 3. capital 4. income 5. expenses the two major types of books differentiate a journal from a ledger of accounts, namely, journal and identify the types of journals and and ledger ledgers

the business transactions and their analysis, to include definition and nature of business transactions, t ypes of source or business documents, and the rules of debits and credits

identify business and nonbusiness transactions, enumerate the types of business documents, recite the rules of debit and credit, and apply these to simple cases

K to 12 Senior High School ABM Specialized Subject – Fundamentals of Accountancy, Business and Management 1 May 2016

2. perform operations involving simple cases with the use of accounting equation 1. discuss the five major accounts

CODE ABM_FABM11IIIb-c-18 ABM_FABM11IIId-e-19

2. cite examples of each type of account

ABM_FABM11IIId-e-20

3. prepare a Chart of Accounts 1. identify the uses of the two books of accounts 2. illustrate the format of a general and special journals 3. illustrate the format of a general and subsidiary ledger 1. describe the nature and gives examples of business transactions 2. identify the different types of business documents 3. analyze common business transactions using the rules of debit and credit

ABM_FABM11IIId-e-21 ABM_FABM11IIIf-22 ABM_FABM11IIIf-23 ABM_FABM11IIIf-24 ABM_FABM11IIIg-j-25 ABM_FABM11IIIg-j-26 ABM_FABM11IIIg-j-27

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K to 12 BASIC EDUCATION CURRICULUM SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM) SPECIALIZED SUBJECT

CONTENT

CONTENT STANDARDS

PERFORMANCE STANDARDS

LEARNING COMPETENCIES

d. Preparation of a Trial Balance

4.

11. Business Transactions and Their Analysis As Applied to the Accounting Cycle of a Service Business a. Adjusting Entries b. Adjusted Trial Balance c. Preparation of Basic Financial Statements (Income Statement)

the accounting cycle of a service business

12. Accounting Cycle of a Merchandising Business

the accounting cycle of a merchandising business to include the following: 1. Journalizing of transactions using the general and special journals, namely: sales journal, purchase journal, cash receipts journal and cash payments journal

identify business and nonbusiness transactions, enumerate the types of business documents, recite the rules of debit and credit, and apply these in simple cases

1.

2.

3. 4.

prepares a trial balance

5.

prepares adjusting entries complete the accounting cycle

6. prepare journal entries, post to the ledger, prepare the trial balance, worksheet, adjusting entries and complete the accounting cycle of a merchandising business.

K to 12 Senior High School ABM Specialized Subject – Fundamentals of Accountancy, Business and Management 1 May 2016

solve simple problems and exercises in the analyses of business transaction describes the nature of transactions in a service business records transactions of a service business in the general journal posts transactions in the ledger

CODE ABM_FABM11IIIg-j-28 ABM_FABM11IVa-d-29 ABM_FABM11IVa-d -30 ABM_FABM11IVa-d -31 ABM_FABM11IVa-d -32 ABM_FABM11IVa-d -33 ABM_FABM11IVa-d -34

1.

describes the nature of transactions in a merchandising business

ABM_FABM11IVe-j -35

2.

records transactions of a merchandising business in the general and special journals

ABM_FABM11IVe-j-36

Page 4 of 7

K to 12 BASIC EDUCATION CURRICULUM SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM) SPECIALIZED SUBJECT

CONTENT

CONTENT STANDARDS

PERFORMANCE STANDARDS

LEARNING COMPETENCIES

2. Posting to the ledger, namely: general and subsidiary ledgers 3. Preparation of trial balance 4. Adjusting entries to include pre payments, accrual and deferral 5. Worksheet preparation, and 6. Completing the accounting cycle of a merchandising business

K to 12 Senior High School ABM Specialized Subject – Fundamentals of Accountancy, Business and Management 1 May 2016

CODE

3.

posts transactions in the general and subsidiary ledgers

4.

prepares a trial balance

5.

prepares adjusting entries

6.

completes the accounting cycle of a merchandising business

ABM_FABM11IVe-j -40

7.

prepares the Statement of Cost of Goods Sold and Gross Profit

ABM_FABM11IVe-j -41

ABM_FABM11IVe-j -37 ABM_FABM11IVe-j -38 ABM_FABM11IVe-j -39

Page 5 of 7

K to 12 BASIC EDUCATION CURRICULUM SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM) SPECIALIZED SUBJECT

Code Book Legend Sample:

ABM_FABM11-IIIa-5

LEGEND

SAMPLE Learning Area and Strand/ Subject or Specialization

Accountancy, Business and Management Strand

Grade Level

Grade 11

Domain/Content/ Component/ Topic

Fundamentals of Accountancy, Business and Management 1

First Entry

Uppercase Letter/s

ABM_FABM11

Roman Numeral

*Zero if no specific quarter

Quarter

Third Quarter

III

Week

Week one

a

Lowercase Letter/s

*Put a hyphen (-) in between letters to indicate more than a specific week

Arabic Number

Competency

differentiate the branches of accounting

K to 12 Senior High School ABM Specialized Subject – Fundamentals of Accountancy, Business and Management 1 May 2016

5

Page 6 of 7

K to 12 BASIC EDUCATION CURRICULUM SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM) SPECIALIZED SUBJECT

References: Anastacio, Ma. Flordeliza. Fundamentals of Financial Management (with Industry Based Perspective) .( Manila: Rex Book Store, 2011). Gilbertson, Claudia. Fundamentals of Accounting . 8th ed. (Australia: Cengage Learning, 2010). Padillo, Nicanor, Jr. Financial Statements Preparation, Analysis and Interpretation. (Manila: GIC Enterprises, 2011). Pefianco, Erlinda C. The Accounting Process: Principles and Problems . (Makati: Goodwill Trading, 1996). Young, Felina C. Principles of Marketing . (Manila: Rex Book Store, 2008).

K to 12 Senior High School ABM Specialized Subject – Fundamentals of Accountancy, Business and Management 1 May 2016

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On DepEd Functional Skills and CHED College Readiness Standards As Higher Education Institutions (HEIs) welcome the graduates of the Senior High School program, it is of paramount importance to ...