Senior High School

Fundamentals of Accountancy, Business and

Management 1
Quarter 3 - Module 1:

Introduction to Accounting

Department of Education — Republic of the Philippines

Fundamentals of Accountancy, Business and Management 1 - Senior High School

Alternative Delivery Mode

Quarter 3 - Module 1: Introduction to Accounting

First Edition, 2020

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Published by the Department of Education - Region X - Northern Mindanao

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Senior High School

Fundamentals of Accountancy, Business

and Management 1
Quarter 3 - Module 1:

Introduction to Accounting

This instructional material was collaboratively developed and reviewed by educators from public and private schools, colleges, and

universities. We encourage teachers and other education stakeholders to email their feedback, comments, and recommendations to the

Department of Education at action@deped.gov.ph.

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Department of Education — Republic of the Philippines

 Table of Contents

Introduction ---------------------------------------------------------------------- i-v

What I need to know

Module Content

General Instructions

What I Know

Lesson 1 ---------------------------------------------------------------------- 1-16

What’s New

What Is It

What’s More

What I have learned

What I can Do

Additional Activity

Post-test ---------------------------------------------------------------------- 17

Assessment

Answer Key ---------------------------------------------------------------------- 18-22

References ---------------------------------------------------------------------- 23-24

What I Need To Know

For the Learners

This is an introductory course in accounting, business and management data analysis that will develop your appreciation of

accounting as language of business and an understanding of basic accounting concepts and principles that will help you analyze

business transactions.
Module Content

“Is accounting important to you?” Accounting delivers financial information to different users
st through financial statements. It
This module in Fundamentals of Accountancy, Business and Management 1 for the 21 century learners is designed to make learning
gives business owners the chance to analyze the overall efficiency and effectiveness of their business operations.
more engaging and meaningful to ABM Senior High School learners in the flexible and blended learning environments. Further, the module
provides specific examples on how accounting is applied in making business decisions . One of the example is service businesses wherein they

provide intangible goods or services to customers. Services usually generates profit by charging labor and other services rendered to customers.

Meaningful activities are given in the form of worksheets, assignments and online or virtual activities which allow learners to work at

their own pace. As you go along, you will know the definition, nature and history or origin of accounting. This module will let you know the external

and internal users of financial information. Here, you are going to solve exercises and problems on the identification of users of information, type of

decisions to be made, and type of information needed by the users. In addition, you will also cite users of financial information, and identify

whether they are external or internal users.

Learning is fun! So enjoy your journey as you unfold the most interesting and worthwhile activities in accounting.

ii

General Instructions

To do well in this module, you need to remember the following:

1. Read texts carefully;

2. Answer questions with all honesty;

3. Review your answers;

4. Follow instructions given;

5. Do the tasks given and do not delay in submitting requirements;

6. Feel free to communicate with your teacher;

7. Remember to review every time you are done answering the activities; and

8. Have fun as you learn.

iii

What I Know

Instructions: Choose carefully the letter that best describes your answer.

Write your answer on the space provided before the number.

____1) The selecting of economic events that are relevant to a particular business transaction is called __________.
a. Recording c. Identifying
b. Measuring d. Classifying

____2) Keeping a chronological diary of events that are measured in pesos is ___________.
 a. Verifying c. Interpreting
b. Recording d. Summarizing

____3) It occurs through the preparation and distribution of financial and other accounting reports is called

___________.
a. Measuring c. Recording
b. Classifying d. Communicating

____4) Accounting provides assistance to decision makers by providing them financial reports that will guide them

in coming up with sound decisions is called _____________.

a. A process c. An information system
b. A service activity d. An art and a discipline

____5) Collects processes and communicates financial information of any entity is ______________.
a. A process c. An information system
b. A service activity d. An art and a discipline

____6) The method of performing any specific job step by step according to the objectives or targets is

____________.
a. A process c. An information system
b. A service activity d. An art and a discipline

____7) Dealt with commercial transactions at the time of Mesopotamia such as listing of accounts receivable and accounts

payable is during _________.

a. The cradle of civilization c. The industrial revolution (1760-1830)
th
b. French revolution (1700’s) d. 14 century double-entry bookkeeping

____8) Mass production and the great importance of fixed assets were given attention during the period of

____________.

a.The cradle of civilization c. The industrial revolution (1760-1830)

th
b.French revolution (1700’s) d. 14 century double-entry bookkeeping

iv

____9) The most important event in accounting history is generally considered to be the dissemination of double entry

bookkeeping by Luca Pacioli happened during _______________.

a.The cradle of civilization c. The industrial revolution (1760-1830)

th
b.French revolution (1700’s) d. 14 century double-entry bookkeeping

____10) The thorough study of accounting and development of accounting theory began during the period of

______________.

a.The cradle of civilization c. The industrial revolution (1760-1830)

th
b.French revolution (1700’s) d. 14 century double-entry bookkeeping

____11) These are the users wherein accounting information is used for analyzing viability and profitability of their investments;

____________.

a. Management c. Creditors e. Employees

b. Owners d. Investors

____12) These users' needs the information because they are concerned with the risk inherent in investing and the returns or invested

decisions are the ________.

a. Management c. Creditors e. Employees

b. Owners d. Investors

____13) This user in which accounting is of great assistance to management for planning, controlling, and decision making process

is the __________.

a. Management c. Creditors e. Employees

 b. Owners d. Investors

____14) These users who is interested in accounting information because it enables them to determine the credit

worthiness of the business or decide whether to extend credit or not are the ____________.

a. Management c. Creditors e. Employees

b. Owners d. Investors

____15) These users who wants to find out the financial health, amount of sales and profitability of business to determine their job

security are the ____________.

a. Management c. Creditors e. Employees

b. Owners d. Investors

Lesson 1 The Definition, Nature and History of Accounting

Week 1_9 hrs
These are the competencies included in this lesson:

 Define accounting (ABM_FABM11-IIIa- 1)

 Describe the nature of accounting (ABM_FABM11-IIIa-2)

 Narrate the history/origin of accounting (ABM_FAB M11- IIIa-4)

What's New

Activity 1

Directions: Explain the three highlighted words in the infographic.

Write your answer on the lines provided below.

1
 What Is It

Definition of Accounting

It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating

financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity.

In a practical sense, the main objective of financial accounting is to accurately prepare an organization's financial accounts for a

specific period, otherwise known as financial statements.

Example, if the company's transactions are being tracked then Ms. Ken (investor), will know if the money she invested is still there.

P100,000 (initial investment)

P70,000 (used to buy printers and pay the bills)

P30,000 (balance cash left)

P50,000 (collection from costumers (1month)

P30,000+ P50,000= 80,000 overall balance cash

Accounting is commonly called the “Language of Business” wherein it delivers financial information to different users through

financial statements.

Example:

Ms. Sweet started a business. She invested P100,000 (personal money). After one month Ms. Sweet wanted to know how much the

business made, and if the money she invested is still there.

The American Institute of Certified Public Accountants (AICPA) defines accounting as:

“An art of recording, classifying and summarizing in a significant manner and in terms of money transaction and events which are in

part at least of financial character, and interpreting the result thereof.”

This definition will provide a better understanding of accounting in terms of the following:

>Accounting is considered an art and a science;

>Accounting involves interconnected phases;

>Accounting is concerned with transactions and events having financial character;

>In accounting, business transactions are expressed in terms of money; and

>Accounting interprets the result of financial statement.

Accounting provides answers to the following questions:

-How much income does the company make?

-How much does the company owe to the creditors?

-Is this a good investment?

Accounting information gives business owners the chance to analyze the overall efficiency and effectiveness of their business

operations.

Nature of Accounting

According to Accounting Theory: http://accountingtheory.weebly.com/nature-and-scope-of-

accounting.html): "Accounting is a systematic recording of financial transactions and the presentation of

the related information to appropriate persons."

Based on this definition we can derive the following basic features of accounting:

Accounting is a service activity.

Accounting provides assistance to decision makers by providing them financial reports that will guide them in coming up with sound

decisions.

Accounting is a process.
 A process refers to the method of performing any specific job step by step according to the objectives or targets. Accounting is identified as

a process, as it performs the specific task of collecting, processing and communicating financial information. In doing so, it follows some definite

steps like the collection, recording, classification, summarization, finalization, and reporting of financial data.

Accounting is both an art and a discipline.

Accounting is the art of recording, classifying, summarizing and finalizing financial data. The word ‘art’ refers to the way something is

performed. It is behavioral knowledge involving a certain creativity and skill to help us attain some specific objectives. Accounting is a systematic

method consisting of definite techniques and its proper application requires skill and expertise. So by nature, accounting is an art. And because it

follows certain standards and professional ethics, it is also a discipline.

Accounting deals with financial information and transactions.

Accounting records financial transactions and data, classify these and finalize their results given for a specified period of time, as needed by

their users. At every stage, from start to finish, accounting deals with financial information and financial information only. It does not deal with non-

monetary or non-financial aspects of such information.

Accounting is an information system.

Accounting is recognized and characterized as a storehouse of information. As a service function, it collects processes and communicates

financial information of any entity. This discipline of knowledge has evolved to meet the need for financial information as required by various

interested groups.

History of Accounting

Accounting is as old as civilization itself. It has evolved in response to various social

and economic needs of men. Accounting started as a simple recording of repetitive exchanges.

The history of accounting is often seen as indistinguishable from the history of finance and

business. Following is the evolution of accounting:

The Cradle of Civilization

Around 3600 B.C., record-keeping was already common from Mesopotamia, China

and India to Central and South America. The oldest evidence of this practice was the “clay

tablet” of Mesopotamia which dealt with commercial transactions at the time such as listing of

accounts receivable and accounts payable.

14th Century - Double-Entry Bookkeeping

The most important event in accounting history is generally considered to be the dissemination of double entry bookkeeping by Luca

Pacioli (‘The Father of Accounting’) in 14th century Italy. Pacioli was much revered in his day, and was a friend and contemporary of Leonardo da
th
Vinci. The Italians of the 14th to 16 centuries are widely acknowledged as the fathers of modern accounting and were the first to commonly use

Arabic numerals, rather than Roman, for tracking business accounts. Luca Pacioli wrote Summa de Arithmetica, the first book published that

contained a detailed chapter on double-entry bookkeeping.

French Revolution (1700s)

The thorough study of accounting and development of accounting theory began during this period. Social upheavals affecting

government, finances, laws, customs and business had greatly influenced the development of accounting.

The Industrial Revolution (1760-1830)

Mass production and the great importance of fixed assets were given attention during this period.

19th Century – The Beginnings of Modern Accounting in Europe and America

The modern, formal accounting profession emerged in Scotland in 1854 when Queen Victoria granted a Royal Charter to the Institute

of Accountants in Glasgow, creating the profession of the Chartered Accountant (CA). In the late 1800s, chartered accountants from Scotland and

Britain came to the U.S. to audit British investments. Some of these accountants stayed in the U.S., setting up accounting practices and becoming
the origins of several U.S. accounting firms. The first national U.S. accounting society was set up in 1887. The American Association of Public

Accountants was the forerunner to the current American Institute of Certified Public Accountants (AICPA).

In this period rapid changes in accounting practice and reports were made. Accounting standards to be observed by accounting

professionals were promulgated. Notable practices such as mergers, acquisitions and growth of multinational corporations were developed. A

merger is when one company takes over all the operations of another business entity resulting in the dissolution of another business.

Businesses expanded by acquiring other companies. These types of transactions have challenged accounting professionals to develop new

standards that will address accounting issues related to these business combinations.

The Present - The Development of Modern Accounting Standards and

Commerce

The accounting profession in the 20th century developed

around state requirements for financial statement audits. Beyond the

industry's self-regulation, the government also sets accounting standards,

through laws and agencies such as the Securities and Exchange

Commission (SEC). As economies worldwide continued to globalize,

accounting regulatory bodies required accounting practitioners to observe

International Accounting Standards. This is to assure transparency and

reliability, and to obtain greater confidence on accounting information used by

global investors.

Nowadays, investors seek investment opportunities all over the world. To remain competitive, businesses everywhere feel the need

to operate globally. The trend now for accounting professionals is to observe one single set of global accounting standards in order to have greater

transparency and comparability of financial data across borders.

What's More

Activity 2

Directions: Go back to the unanswered question in the introduction of this topic.

Write your answer on the lines provided below.

Is accounting important to you? Does it affect your daily

activities? How?

___________________________________________________

What I Have Learned

_____________________________________________________
Activity 3

Instructions: Answer the questions according to your own understanding. Write your answer on the lines provided below.

1. Define Accounting.
 6

2. Give examples of decisions or questions that can be supported by accounting information.

What I Can Do

Activity 4

Instructions:

1. You will create an infomercial on the nature and evolution/history of accounting.

2. Be Creative.
3. Submit your video presentation only in one file through cellphone, usb or any of your convenience.

Guidelines:

Use any media platform at your convenience

Maximum of 2 minutes

You can use Mother Tongue, Tagalog or English as language

Wear casual attire

Self-Check!

Great job! You have completed Lesson 1 successfully! Before going to the next lesson, check the icon that best shows your learning

experience.

I have understood the lesson well, and I can even teach what I learned to others.

I have understood the lesson, but there are still other things that I need to review and relearn.

I need to do additional work to be able to master the lesson. I need help in some tasks.
 If you checked the first icon, you are ready for lesson 2.

If you have checked the first icon, you can proceed to the next lesson. If you have checked the second icon, you need to review the

things that you need to relearn. If you have checked the third icon, it would be best if you read more and ask help from your teacher, parents or

peers in clarifying the lessons that you find it difficult. Be honest so that you will truly improve.

Additional Activity

After doing the activities:

I noticed _______________________________

A question I have is _______________________________

8

I’m not sure _______________________________

Assessment
I realized _______________________________

Let us check how much you have learned from this module's coverage.

Fill in the blank: Write your answer in the blank provided before the number.

_____________1) Refers as the economic events of an organization.

_____________2) The art of recording, classifying, summarizing and finalizing financial data.

_____________3) Refers to the method of performing any specific job step by step according to the objectives or

targets.

_____________4) This involves keeping a chronological diary of events that are measured in pesos.

_____________5) Refers to the way something is performed.

_____________6) The oldest evidence practice of Mesopotamia which dealt with commercial transactions.

_____________7) He was the father of accounting.

_____________8) The first book published that contained a detailed chapter on double-entry bookkeeping.

_____________9) Mass production and the great importance of fixed assets were given attention during

this period.

_____________10) In this period, rapid changes in accounting practice and reports were made.

Lesson The External and Internal Users of Financial Information

2
These are the competencies included in this lesson:

 Define external users and gives examples (ABM_FAB M11- IIIa-7)

 Define internal users and give examples (ABM_FA BM11- IIIa-8)

What's In

Activity 1. Review

Directions: Complete the statement. Write your answer on the lines provided below.

In the previous lesson I learned that ______________________________________

____________________________________________________________________________________________________________________

__________________

What's New

Activity 2

What business would you want to enter into?

Sample businesses:

10

Instructions: Choose one of any business. Write your answer on the lines provided.

Question 1- If you would like to own a business, what kind of business would you endeavor, and what do you want to know about the business?

Question 2- What possible decisions can accounting support?

What Is It

Accounting

- is the language employed to communicate financial information of a concern to such parties.

Slavin and Reynolds

Accounting is the discipline that provides information on which external and internal users of the information may base decisions that result

in the allocation of economic resources in society.

Who uses accounting data or information?

There are two broad categories of users of financial information: internal and external users.

INTERNAL USERS

Internal users of accounting information are those individuals inside a company who plan, organize,

and run the business. These users are directly involved in managing and operating the business. These

include marketing managers, production supervisors, finance directors, company officers and owners.

What information will user need that can be answered by accounting?

Internal users (Primary Users) of accounting information include the following:

11

Management

Information need: income/earnings for the period, sales, available cash, production cost

Decisions supported: analyze the organization's performance and position, and take appropriate measures to

improve the company results, sufficiency of cash to pay dividends to stockholders; pricing decisions

Employees

Information need: profit for the period, salaries paid to employees

Decisions supported: job security, consider staying in the employ of the company or look for other employment

opportunities

Owners/Investors/Stockholders

Information need: profit or income for the period, resources or assets of the business, liabilities of

the business

Decisions supported: considerations regarding additional investment, expanding the business, borrowing funds to

support any expansion plans.

Accounting information is presented to internal users usually in the form of management accounts, budgets, forecasts and financial

statements. This information will support whatever decision of the internal users.

EXTERNAL USERS

External users are individuals and organizations outside a company who want

financial information about the company. These users are not directly involved in managing

and operating the business. The two most common types of external users are potential

investors and creditors.

Potential Investors use accounting information to make decisions to buy shares of a

company. Creditors (such as suppliers and bankers) use accounting information to

evaluate the risks of granting credit or lending money. Also included as external users are

government regulatory agencies such as Securities and Exchange Commission (SEC),

Bureau of Internal Revenue (BIR), Department of Labor and Employment (DOLE), Social

Security System (SSS), and Local Government Units (LGUs).

External users (Secondary Users) of accounting information include the following:

Creditors: for determining the credit worthiness of an organization. Terms of credit are set by creditors according to the

assessment of their customers'

 financial health. Creditors include suppliers as well as lenders of finance

such as banks.

12

Tax Authorities (BIR): for determining the credibility of the tax returns filed on behalf of a company.

Investors: for analyzing the feasibility of investing in a company. Investors want to make sure they can earn a reasonable

return on their investment before they commit any financial resources to a company.

Customers: for assessing the financial position of its suppliers which is necessary for them to maintain a stable source of supply

in the long term.

Regulatory Authorities (SEC, DOLE): for ensuring that a company's disclosure of accounting information is in accordance

with the rules and regulations set in order to protect the interests of the stakeholders who rely on such

information in forming their decisions.

Types of Information needed by each Group of Users

Accounting information includes both financial (quantitative) and non-financial (qualitative) information used by the decision maker.

*Qualitative analysis-means looking at the intangibles

*Quantitative analysis- means looking at the actual numbers.

*Comprehensive analysis- should include looking at both qualitative and quantitative factors

that would impact decision maker.

SUMMARY OF THE DIFFERENCES BETWEEN INTERNAL AND EXTERNAL USERS

Internal users of accounting information are those who are involved in planning,

organizing and running the business. They need more detailed information on a timely basis

in order to support their decisions. Examples of these internal users are managers,

employees and owners.

The external users of accounting information are those individuals or organizations

outside a company who are interested in its financial information. Examples of these external users are potential investors, suppliers and

government agencies.

13

What's More

Activity 3

Instructions: Answer the questions below. Write your answer on the lines provided.

Give an example of External Users?

__________________________________________________
What kind of information do users need that can be answered by
Accounting?
______________________________________________
What decisions of external users that are supported by accounting
information?
______________________________________________________
__
 What I Have Learned

Activity 4
Directions: Answer the questions below. Write you answer on the lines
provided.
1. Is the Local Government Unit (LGU) interested in your accounting reports?
___________________________________________________________________
2. Are the officers of the Local Government Unit internal or external users? Why?

14

What I Can Do

Activity 5

Instructions: Using the graphic below. Write at least four frequently asked questions by Internal Users. Write

your answer on the lines provided.

_________________________________________________________________________________________________________________________________

_________________________________________________________________________________________________________________________________

__________________________________________

Self-Check!

Great job! You have completed Lesson 2 successfully! Before going to the next lesson, check the icon that best shows your learning

experience.

I have understood the lesson well and I can even teach what I learned to others.
 I have understood the lesson but there are still other things that I need to review and

relearn.

15

If you checked
I needthe
tofirst icon, you are
do additional ready
work to for
be lesson
able to2.master the lesson. I need help in some tasks.

If you have checked the first icon, you can proceed to the next module. If you have checked the second icon, you

need to review the things that you need to relearn. If you have checked the third icon, it would be best if you read more

and ask help from your teacher, parents or peers in clarifying the lessons that you find difficult. Be honest so that you will truly improve.

Additional Activity

After doing the activities:

I noticed _______________________________

16
A question I have is _______________________________

I’m not sure _______________________________

Assessment

I realized _______________________________
Essay

Instructions: Answer the questions according to your own understanding. Write your answer on the lines provided

below.

1. In your own opinion, which internal user needs the accounting information the most? Why?
___________________________________________________________________
2. In your own opinion, which external user needs the accounting information the most? Why?

3. Differentiate internal users from external users of accounting information.

17
 CONGRATULATIONS

FOR COMPLETING THIS MODULE!

Answer Key

(Lesson 1)

Pre-test
Activity 1

1. C 6. A 11. B
2. B 7. A 12. D IDENTIFYING – this involves selecting economic events that are
3. D 8. C 13. A
4.
Activity 2 B 9. D 14. C
relevant to a particular business transaction

5. C 10. B 15. E The economic events of an organization are referred to as

Yes, accounting is very important.
transactions.

It affects our daily activities in a way that we account everything we

Examples of economic events or transactions - In a bakery
do. Example, my parents give me one hundred pesos of daily
business:
allowance in school. Breakdown as follows;

• sales of bread and other bakery products

Allowance P100

RECORDING – this involves keeping a chronological diary of

Expenses:
events that are measured in pesos. The diary referred to in the

Fare (Tricab) P20 definition are the

18

Morning Snack 20 journals and ledgers which will be discussed in future chapters.

Lunch Activity 4 30 COMMUNICATING – occurs through the preparation and

distributionActivity
of financial
3 and other accounting reports.
Afternoon snackVideo
20Presentation(90)

1. Accounting is the process of IDENTIFYING, RECORDING and

Balance P10
Post-test COMMUNICATING

1.Transactions
Accounting helps us to budget our money, track our expenses and economic events of an organization for interested users.

2.
income to save for the future. Thus, invest to make more money.
Accounting 2. • Is my business earning? (profitability)

3. Process • How much daily or monthly sales do I need in order to recover my

4. Recording fixed cost? (break-even)

5. Art • Do I need to hire additional workers to help me with my production?

 6. Clay Tablet • Can I afford to set up a new store in another place? Where do I get

19

(Lesson 2)

Activity 2
Activity 1

1.
I have learned in the previous lesson that accounting is a systematic

process of identifying, recording, measuring, classifying, verifying, • How much income have I earned for a certain period?

summarizing, interpreting and communicating financial information.

• How much receivables do I have?

One nature of accounting is, it is a service activity and the father of

• How much do I owe my suppliers?
accounting is Luca Pacioli.

• How much is the value of my inventory?

2.

• Will I be able to pay my liabilities if I earn this much?

• Can I expand my business? Will I be able to afford buying

new equipment?

• Do I need to adjust my selling price?

20 • Do I need to cut costs?

Activity 3 Activity 4

potential investors – 1. Yes. The LGU will check whether you are paying your

local taxes. As required, businesses must have a

Income or profit of the business business permit before they are allowed

resources or assets of the business to operate in the city or municipality. This is renewed

every year, with appropriate taxes paid. The local

liabilities or amount owed by the business to its suppliers
government may review your

taxes paid by the business

accounting records to check whether you are declaring or

paying the correct taxes.

salaries
Activity and
5 other benefits paid to employees

2. External. They are not directly involved in the operation

1.
Potential Investors
Is cash – Is
sufficient toitpay
profitable
bills? for me to invest in this or management of the business.
business?
2. What is the cost of manufacturing each unit of
product?

3. Can we afford to give employee pay raises this

year?

4. Which product line is the most profitable?

 21

Post Test
Activity 3

1. Owners – They use the accounting information for analyzing the 1. Yes. The LGU will check whether you are paying your local taxes.

viability and profitability of their investments. Owners invest capital to As required, businesses must have a business permit before they

are allowed
start and run business with the primary objective to earn profit. They

need accurate financial information to know what they have earned to operate in the city or municipality. This is renewed every year, with

appropriate taxes paid. The local government may review your

2. Investors- They use financial statements to obtain valuable
accounting records to check whether you are declaring or paying the
information used in the valuation and credit analysis of companies. ...
correct taxes.
Knowledge of accounting helps investors determine an assets' value,
2. External. They are not directly involved in the operation or
understand a company's financing sources, calculate profitability, and
management of the business.
estimate risks embedded in a company's balance sheet.

3. Internal users are people within a business organization who use

financial information. While External users are people outside the

business entity (organization) who use accounting information. 22

References

BOOK
Anastacio, Ma. Flordeliza. Fundamentals of Financial Management (with Industry Based Perspective).( Manila: Rex Book Store, 2011).

Gilbertson, Claudia. Fundamentals of Accounting. 8th ed. (Australia: Cengage Learning, 2010).

Padillo, Nicanor, Jr. Financial Statements Preparation, Analysis and Interpretation. (Manila: GIC Enterprises, 2011).

Pefianco, Erlinda C. The Accounting Process: Principles and Problems. (Makati: Goodwill Trading, 1996).

Young, Felina C. Principles of Marketing. (Manila: Rex Book Store, 2008).

WEBSITE

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“Clipart house diagram”.WebStockReview. Accessed date July 30, 2020. https://webstockreview.net/pict/getfirst.

Corsair’s Publishing. “An Uncollected History of Feedback”. Medium Circa Navigate. February 10, 2016. https://circa-

navigate.corsairs.network

/an-uncollected-history-of-feedback-6 48dff27d94a.

“Datei:Shokunin businessman.svg”. Wikipedia. Accessed date July 30, 2020. https://de.wikipedia.org/wiki/Datei:Shokunin_businessman.svg.

deko.bakimparasiyataniller.net. Pinterest. Accessed date July 30, 2020. https://www.pinterest.ph/pin/639651953309372765/.

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“I COMPLEMENTI: COSA SONO?”. Focus Junior. Accessed date July 30, 2020.

https://www.focusjunior.it/scuola/italiano/analisi-logica/complementi-cosa-sono-c osa-servono/.

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clipart-graphics-the-cla ssroom-materials-teaching-materials-study-of-students.

“Książka Rysunek Dla Dzieci”. Jing.fm. Accessed date July 30, 2020. https://www.jing.fm/iclipt/Jxhiw/.

“New Lenovo 110-15ACL 15.6" AMD A6-7310 Quad-core 4GB 500GB DVDRW Ideapad Black”.Ebay. Accessed July 30, 2020.

https://www.ebay.com/c/24011372739.

“New MFS-4 SSE Installation”.Southern Pine Construction Company | Bacolod City | Philippines. Accessed date July 30, 2020.

http://southernpineconstruction.com/project-list/item/114-new-mfs-4-sse-installati on?tmpl=component.

“New Trends Updates for Ready-to-Fill Pastry Market by 2025| Pidy Gourmet NV, Royal Smilde BV, Wallbridge Company Ltd., Bells

Professional Pastry”. KDMArketResearch. Accessed date July 30, 2020. https://teletype.in/@kdmarketresearch/rkNaR5xlL.

PinClipart.com Inc..”Picnic Clipart - Clipart - Table - Pages In A Book Clipart - Png Download”.Pinclipart.Accessed July 30, 2020.

https://www.pinclipart.com/maxpin/iRJRhm/.

Pixy.org.”STOCK EXCHANGE BOOM, DIGITAL ART, CONCEPT”. Pixy.org. Accessed July 30, 2020. https://pixy.org/5745553/.

Reethes.”Open Book Wall art”.Redbubble.Accessed July 30, 2020.

https://www.redbubble.com/shop/open%20book+prints.

“Tablet Computer, Smartphone And Newspapers Stock Illustration”.Dreamstine.com. Accessed July 30, 2020. https://www.dreamstime.com/

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E-BOOK

Carlsberg S. Andres, Arthur P. Barrido, Jr., and Christopher B. Honorario. (2016). Fundamentals of Accountancy, Business, and

Management 1. Commission on Higher Education.

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