The document provides instructions for a pre-assessment activity in accounting. It asks students to define accounting, discuss its importance, and complete several multiple choice and short answer questions about basic accounting concepts like the accounting equation and accounting principles. It reminds students to not cheat or plagiarize and to complete their own independent work. The deadline for submission is September 4, 2020 at 4:30PM.
The document provides instructions for a pre-assessment activity in accounting. It asks students to define accounting, discuss its importance, and complete several multiple choice and short answer questions about basic accounting concepts like the accounting equation and accounting principles. It reminds students to not cheat or plagiarize and to complete their own independent work. The deadline for submission is September 4, 2020 at 4:30PM.
The document provides instructions for a pre-assessment activity in accounting. It asks students to define accounting, discuss its importance, and complete several multiple choice and short answer questions about basic accounting concepts like the accounting equation and accounting principles. It reminds students to not cheat or plagiarize and to complete their own independent work. The deadline for submission is September 4, 2020 at 4:30PM.
The document provides instructions for a pre-assessment activity in accounting. It asks students to define accounting, discuss its importance, and complete several multiple choice and short answer questions about basic accounting concepts like the accounting equation and accounting principles. It reminds students to not cheat or plagiarize and to complete their own independent work. The deadline for submission is September 4, 2020 at 4:30PM.
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Deadline of submission is September 04, 2020 at 4:30PM (NO EXTENSION)
Pre- Assessment
Let us begin this module by gathering your ideas about
ACCOUNTING!
Activity 1: Definition and Nature of Accounting (DONE! Do not answer anymore)
Answer the following question in not less than 3 sentences. You should not copy your answer from any book or internet, just provide answer using your own words. Lastly, use only the English language as a medium of your answer. You can do it!
1. What was your understanding when you hear the word “ACCOUNTING”?
2. What do you think is the importance of accounting in the world?
Activity No. 2: Accounting and Its Origin
Fill the boxes with letters to come up with the answer.
1. He was an Italian mathematician who published the influential book Suma in 1494 giving of all the mathematics known at that time. He lived in Sansepolcro (now Italy). He died in 1517 and was considered to be the father of accounting education. He is also friends with the Italian polymath of the High Renaissance Leonardo da Vinci.
2. The _______________ system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of two accounts. This system also requires that for all transactions, the amount entered as debits must equal to the amounts as credits. Activity No. 3: Users of Financial Information 1. If you will establish a business, what business would you want to enter into? ________________________________________________________________________
2. Assume you are the owner of that business, what do you want to know about the said business? Are those things you want to know considered to be a financial information? ________________________________________________________________________
Juan dela Cruz opened his pet shop business called Petness First Petshop. He opened a bank account for his business and deposited PHP500,000. The business earned PHP50,000 but he had doubts with the recorded expense of PHP60,000. He is not sure if he should include the following items as expenses:
Salaries Expense 20,000
Rent expense 10,000 Utilities expense (at home) 15,000 Utilities expense (at the store) 10,000 Insurance expense 5,000 Withdrawals 10,000 TOTAL 60,000 Required: Indicate on each account if they must be recorded as expense. Provide your explanation.
Activity No. 5: The Accounting Equation
Using the equation provided below, answer the following:
ASSETS = LIABILITIES + OWNER’S EQUITY
1. If total asset is P1,000,000, how much is the equity if there is no liability?
________________________
Computation:
2. If total liability is P500,000, how much is the equity if asset is P2,000,000?
_______________________ Computation:
3. If total equity is P1,200,000, how much is the asset is liability is P300,000?
_______________________ Computation: 4. If total asset is P450,000, how much is liability if the equity is P450,000? _________________________ Computation:
5. If the total debit side is P600,000, how much is the liability if the equity is P250,000? _______________ Computation:
REMINDERS!
1. No CHEATING.
Cheating is an attempt to gain or provide an appropriate advantage in an academic
evaluation. Forms of cheating include the following but are not limited to: a. Obtaining a copy of an examination before it is officially available. b. Copying from another/other student/s during any exam or quiz or activity. c. Consulting an unauthorized source during an examination. d. Providing knowledge of materials on examination/quiz/activity to others i.e. writing a second or separate session such as an accommodation session and disclosing unauthorized information to other students other than the student’s classmate/s. e. Using unauthorized materials or taking unauthorized information from other students for a take-home exam. A take home exam is an exam, therefore, it requires independent work. Thus, student shall follow the procedures given by the professor and shall employ honesty and independence in taking the exam.
2. No to PLAGIARISM.
Forms of plagiarism include the following but are not limited to: a. Global Plagiarism – presenting an entire text by someone else as your own. b. Paraphrasing Plagiarism – rephrasing someone else’s ideas without citation. c. Verbatim Plagiarism – directly copying a passage of text without citation. d. Combining text and ideas form different sources without citation. e. Incorrect Citation – failing to give all the necessary information in your source citation or citing incorrect/inaccurate/misleading citation. “Misleading” shall mean anything that will refer to another source other than the correct source.
3. No to IMPERSONATION a. Impersonation is the act of representing or being represented by another person during any evaluation, examination or assignment or even when working as a group or team in online activity/ies. b. Pretending to be another individual in order to deceive others and gain some advantage or authorizing someone to pretend to be you.
Failure to adhere to all of the school’s rules and regulation may be a ground for sanctions like failing grades/loss of mark, suspension or even exclusion or expulsion.
