BSAIS 1

This course provides a reinforcement of basic accounting, within the context of business and business decisions. Students obtain additional knowledge of the principles and concepts of accounting as well as their application that will enable them to appreciate the production of accounting data. Emphasis is placed on understanding the reasons underlying basic accounting concepts and providing students with an adequate background on the recording of transactions, their classifications and reporting functions of accounting in a service and trading concerns through the preparation of Statement of Financial Position , Income Statement, Statement of Changes in Equity, and Cash Flow Statement. Exposure through the use of practice sets, either manual or computerized system in recording and reporting transactions for service and trading firm is a requirement in this course. Towards the end of the course covering financial statements for corporation, there must be an introduction to regulatory reporting in the Philippines for Corporations which will be discussed in detailed at Regulatory Framework and Legal Issues in Business.