FABM 2 - WEEK22222222222222222222222.pptx

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1. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” FABM 2

2. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” Prayer Greetings Attendance

3. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” Remember Me ? Statement of Financial Position (SFP)

4. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” STATEMENT OF COMPREHENSIVE INCOME (SCI)

5. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” OBJECTIVES Identify the elements of the SCI and describe each of these items for a service business and a merchandising business Prepare an SCI for a service business using the single-step approach Prepare an SCI for a merchandising business using the multi-step approach

6. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” Statement of Comprehensive Income (SCI)

7. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” STATEMENT OF COMPREHENSIVE INCOME – Also known as the income statement . Contains the results of the company’s operations for a specific period of time which is called net income if it is a net positive result while a net loss if it is a net negative result. This can be prepared for a month, a quarter or a year. TEMPORARY ACCOUNTS – Also known as nominal accounts are the accounts found under the SCI. They are called such because at the end of the accounting period, balances under these accounts are transferred to the capital account, thus having only temporary amounts and resulting to zero beginning balances at the beginning of the following year. Examples of temporary accounts include revenues, sales, utilities expense, supplies expense, salaries expense, depreciation expense, interest expense among others.

8. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” Parts of Statement of Comprehensive Income (SCI) a. Heading i . Name of the Company ii . Name of the Statement iii . Date of preparation (emphasis on the wording – “for the”) b. Sample of a Report Form SFP – Refer to the one above i . First part is revenues. This is the total amount of revenue that the company was able to generate from providing services to customers ii . Second part is expenses (can be broken down into General and Administrative and Selling Expenses) Please see the discussion in multi-step for general and administrative and selling expenses. iii . Revenues less Expenses. Net income for a positive result and net loss for a negative result

9. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” Components of Statement of Comprehensive Income

10. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” Components of Statement of Comprehensive Income

11. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .”

12. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .”

13. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .”

14. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .”

15. Saint Joseph Academy of Dasmariñas , Inc. Greenbreeze Ave., Langkaan I, Dasmariñas City, Cavite DepEd Recognition K-009, E-036 S 2008 “Molding Children through Quality Education and Values Formation .” The end.