Subjects

FUNDAMENTALS OF ACCOUNTING

Accounting is the recording of financial transactions along with storing, sorting, retrieving, summarizing, and presenting the results in various reports and analyses. Accounting is also a field of study and profession dedicated to carrying out those tasks.

The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. This information is then used to reach decisions about how to manage the business, or invest in it, or lend money to it. This information is accumulated in accounting records with accounting transactions, which are recorded either through such standardized business transactions as customer invoicing or supplier invoices, or through more specialized transactions, known as journal entries.

Once this financial information has been stored in the accounting records, it is usually compiled into financial statements, which include the following documents:

  • Income statement
  • Balance sheet
  • Statement of cash flows
  • Statement of retained earnings
  • Disclosures that accompany the financial statements

PRINCIPLES OF MARKETING

Marketing is the action or business of promoting and selling products or services, including market research and advertising. It is the study of exchange relationships with its focus on the customer. Marketing is one of the premier components of business management.

There are activities in marketing that includes selling and advertising a product. For marketing subject, the students do experience selling products like squash mamon. Also, the students created a business proposal before they run a business and execute their product.

In this field, the students do case which harness their capacity to learn, understand and solve problems.

BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

This introduces students to the fundamental concepts, principles, and practices of ethical standards in the business environment. It explores the integration of business models and ethical standards that uphold the law and promote social good. The book combines the theoretical foundations of managing entrepreneurial activities and nurturing one’s accountability and social responsibility, while building its discussions in the light of Filipino experiences.

This also includes the CSR (Corporate Social Responsibility) that will improve each business to gain profits while helping the community.

ORGANIZATION AND MANAGEMENT

Organization management helps to extract the best out of each employee so that they accomplish the tasks within the given time frame.

According to the management study guide, there are essential features of organization and management. The following are:

  1. Planning
    • Prepare an effective business plan. It is essential to decide on the future course of action to avoid confusions later on.
    • Plan out how you intend to do things.
  2. Organizing
    • Organizing refers to the judicious use of resources to achieve the best out of the employees.
    • Prepare a monthly budget for smooth cash flow.
  3. Staffing
    • Poor organization management leads to unhappy employees who eventually create problems for themselves as well as the organization.
    • Recruit the right talent for the organization.
  4. Leading
    • The managers or superiors must set clear targets for the team members.
    • A leader must make sure his team members work in unison towards a common objective. He is the one who decides what would be right in a particular situation.
  5. Control
    • The superiors must be aware of what is happening around them.
    • Hierarchies should be well defined for an effective management.
    • The reporting bosses must review the performance and progress of their subordinates and guide them whenever required.
  6. Time Management
    • An effective time management helps the employees to do the right thing at the right time.
    • Managing time effectively always pays in the long run.
  7. Motivation
    • Motivation goes a long way in binding the employees together.
    • Appreciating the employees for their good work or lucrative incentive schemes go a long way in motivating the employees and make them work for a longer span of time.