Fundamentals of Accounting for Accountants & Non-Accountants part1.pptx

In Fundamentals of Accounting Part1, we will have overview of what a business is and what the different forms of business are. We will also define Accounting highlighting important phrases that gives values to the subject itself. Credits due to the author of book I bought - Fundamentals of Accounting by DE Jesus, Marasigan and Salvador.

1. Fundamentals of Accounting By: Ms. Gladys Marie C. Maghari, CPA, MBA

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3. Business - is an organization engaged in the trade of goods, services, or both to consumers, generally to earn profit, and increase the wealth of owners. Types of Business According to Nature: 1) Service 2) Merchandising 3) Manufacturing 4 Gladz

4. 5 Video slide Gladz SERVICE – referred to the business which is offering either purely service or more on service and less on goods. MERCHANDISING – referred to as trading business or a retail company, buys goods from suppliers and sells them to customers for profit, without alteration or modification to the product MANUFACTURING– referred to as a production company, buys a type of goods called materials from suppliers; converted to finished goods and selling them to customers

5. 6 Business Types of Business According to Legal Forms: 1) Sole Proprietorship 2) Partnership 3) Corporation Gladz

6. 7 Video slide Gladz Sole Proprietorship

7. 8 Video slide Gladz Partnership

8. 9 Video slide Gladz Corporation

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10. Accounting Three Basic Processes of Accounting: 1) Identifying 2) Measuring 3) Communicating 11 Gladz

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12. Accounting Sectors in Accounting Practice: 1) Public Practice 2) Commerce & Industry 3) Education 4) Government 13 Gladz

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14. References: A Closer Look in Fundamentals of Accounting by De Jesus / Marasigan/ Salvador 2021 edition www.slideplayer.com 15 Gladz

15. Love from Ms. Gladz Thank You BOFFIN Launch Launch FUNKY TUNES