GROUP 3 JANUARY 2022

TRANSFORMERS OF

SOCIETY

"GREAT CHANGE HAPPENS WHEN YOU

TAKE RISKS AND ACCEPT CHALLENGES.
BE WISE. CHOOSE ABM!"
Table of Contents

1
The Amazing Journey Behind
Accountancy, Business and
Management
2
Introduction to Accountancy,
Business and Management

3
What is Accounting?

4
Brief History of Accounting

6
Objectives of Accounting

12
Role of Accounting in Business

13
Benefits of Taking ABM Strand
Table of Contents

15
Impact of Accounting in our
Daily Life Importance of
Accounting

16
Importance of Accounting

18
Purpose of Accounting

19
The Courses you may Pursue
in College

22
Successful Filipino
Entrepreneurs Who Started
Small
31
Trivia Facts about ABM

34
Real-life Advices from ABM
Students
 THE AMAZING JOURNEY
BEHIND ACCOUNTANCY,
BUSINESS AND MANAGEMENT

Students must learn to manage their time well, have a high level of
patience, and concentrate and focus on their studies. All areas
connected to corporate finance, economics, and marketing will be
better understood.

One of the most important advantages of studying ABM is that it

allows students to participate in job placements and professional
projects. Students can go deeper into this. They will gain a better
understanding of how to run our own company. We'll know what kind
of business you're going to launch and how you're going to operate it.

ABM is concerned not only with how we will manage our business,
but also with the payments we will make, the dangers we will face in
operating our business, and how we will make our business
successful.

ABM focuses on the basic concepts of financial management,

business management, corporate operations, and all things that are
accounted for. ABM can also lead you to careers on management and
accounting which could be sales manager, human resources,
marketing director, project officer, bookkeeper, accounting clerk,
internal auditor, and a lot more. (Imlighthearted, 2019)

TRANSFORMERS OF SOCIETY | PAGE 1

 Introduction to Accountancy,
Business and Management

Lumen (2020) stated that the language of business is commonly referred to as

accounting. It is more precisely defined as an information system that measures
business activities, processes data into reports, and communicates the results to
decision-makers. You can also think of it as a business scorecard. Most firms are
created to generate a profit, which is essentially an increase in the owners' wealth,
and accounting is used to measure and report that rise in wealth.

If you want to know exactly how much money you have in the bank, balancing your
checkbook is a necessary accounting function. However, it's only a small part of
business accounting, because stakeholders like business owners, investors, bankers,
and other users of financial information want to know more. They want to know how
much debt the company has, how much revenue it made, how much it cost the
company to generate that income, and how much new wealth was created.
Furthermore, those stakeholders want to know that the financial reports are accurate
and not fabricated.

In general, there are two types of accounting: financial accounting and managerial
accounting. External users such as lenders (including vendors who offer credit to the
company), regulatory authorities (such as the Internal Revenue Service), and
investors are the focus of financial accounting. Internal users like as production
managers, sales managers, and employees are the subject of managerial accounting.
A sales report, for example, would be an internal, management accounting document
used to calculate and pay commissions, whereas a balance sheet, which informs
shareholders of the company's assets and liabilities, would be an external, financial
accounting report.

TRANSFORMERS OF SOCIETY | PAGE 2

 What is
Accounting?

"Accounting is
the Language of
Business"

Accounting is a critical function of every business organization

because it analyzes, summarizes, and reports transactions to
regulators and other interested parties. The scope of accounting
in the modern business period has expanded as technology
advancement, as well as economic or industrial development, has
emerged. It plays a crucial part in any commercial organization,
with a variety of perspectives and transactions. Accounting
encompasses a wide range of activities, from tax preparation to
auditing. Because there are various types of businesses in the
market, there are various accounting methods for evaluating them
based on their demands.
TRANSFORMERS OF SOCIETY | PAGE 3

Brief
History
of Accounting
Accounting has its roots in Mesopotamia, and it is
closely tied to ancient Egyptian and Babylonian
advances in writing, counting, and money, as well as
early auditing systems. The Roman government
possessed extensive financial statistics by the reign
of Emperor Augustus. During the Mauryan Empire in
India, Chanakya authored a document that was akin
to a financial management book. Few details about
keeping books of accounts for a sovereign state are
included in his work "Arthashasthra." Meanwhile, in
Italy, the Italian Luca Pacioli, recognized as The
Father of accounting, was the first to publish a work
on double-entry bookkeeping, and he was the one
who launched the field. In the 19th century, Scotland
gave rise to the contemporary profession of a
chartered accountant.
Accountants were frequently members of the same
professional organizations as attorneys, who frequently
provided accounting services to their customers. Early
modern accounting was quite similar to forensic
accounting today. The Institute of Chartered Accountants
in England and Wales was founded in 1880 after local
professional associations in England merged to establish
the Institute of Chartered Accountants in England and
Wales.
Mesopotamia has accounting records reaching back
over 7,000 years, and writings from the time period
reveal listings of expenditures, as well as commodities
received and sold. The taxes and trade operations of
temples may have influenced the development of
accounting, as well as the creation of money and
numbers. Accounting's early beginnings were intertwined
with advances in writing, counting, and money. There is
evidence that a critical stage in the evolution of
counting—the move from tangible to abstract counting
—was linked to the early development of accounting and
money in Mesopotamia.
TRANSFORMERS OF SOCIETY | PAGE 4
Other early accounting documents Other early accounting documents

BRIEF HISTORY OF ACCOUNTING

have been discovered in the more have been discovered in the more than
than 7,000-year-old ruins of ancient 7,000-year-old ruins of ancient
Babylon, Assyria, and Sumeria. To Babylon, Assyria, and Sumeria. To keep
keep track of the increase of crops track of the increase of crops and
and livestock, the inhabitants of the livestock, the inhabitants of the period
period used rudimentary accounting used rudimentary accounting systems.
systems. It was simple to count and It was simple to count and ascertain if
ascertain if a surplus had been a surplus had been achieved after the
achieved after the crops had been crops had been harvested or the young
harvested or the young animals had animals had been weaned because
been weaned because farming and farming and herding had a natural
herding had a natural season. The season. The ruling kings and priests in
ruling kings and priests in ancient ancient Iran had personnel manage
Iran had personnel manage financial concerns between the 4th
financial concerns between the 4th millennium BC and the 3rd millennium
millennium BC and the 3rd BC.
millennium BC.

People

Technoology Growth

TRANSFORMERS OF SOCIETY | PAGE 5

Brief history of Accounting

Cylindrical tokens used for bookkeeping on clay

scripts were discovered in houses with extensive
agricultural storage halls at Godin Tepe and Tepe
Yahya. The writings in Godin Tepe's discoveries
exclusively featured tables with figures, but the
scripts in Tepe Yahya's findings also had pictorial
representations. The development of a method of
bookkeeping based on clay tokens was a great
step forward in human cognition. The rise of
commerce and business throughout the first
millennium BC enhanced the position of the
accountant.

There is also evidence for an early type of

The Phoenicians devised a phonetic alphabet
"presumably for accountancy purposes," and
there is evidence that someone in ancient Egypt
was known as "comptroller of the scribes."
accounting in the Old Testament; for example,
Moses engages Ithamar to account for the
materials given to the tabernacle's construction
in the Book of Exodus. The ancient Egyptians
and Babylonians had auditing procedures for
verifying movement in and out of storehouses
by around the 4th century BC, including oral
"audit reports," which gave rise to the name
"auditor" (from audire, to hear in Latin).

Taxation necessitated the recording of

payments by the 2nd century BC, and the
Rosetta Stone includes a story about a tax
uprising. The accounting profession is
evolving swiftly, and as time goes by it
might have changed from how it revolves
in business. Each method used in this
field could be easier to use in the near
future due to the new technology and
development given by time.

TRANSFORMERS OF SOCIETY | PAGE 6

Objectives
OF ACCOUNTING

Accounting, as one of the most important

components of a company, has a lot of
clearly stated goals to work with. The goals
may also alter depending on the type of
company you work for. We'll look at
accounting's goals from a larger viewpoint
and see how they might be met.

Record Keeping
The primary function of any accounting
department of a company is to keep a
systematic record of all financial
transactions. A proper level of
investigation to arrive at an organization's
financial health will be ensured by
systematic record keeping.

TRANSFORMERS OF SOCIETY | PAGE 7

Analyzing and
ascertaining
the financial
results
If you own a business, you'll want to
know the actual state of your company's
financial health at the end of a certain
time. Typically, businesses prefer quarterly
operating financial results. The accounts
department prepares the organization's
profit and loss details based on the income
statement prepared using the records it has
retained for the period. It is a continuous
process that continues regardless of the
time limits.

Analysis of the
financial status
of affairs
Accounting also has the goal of
determining the status of the
organization's financial affairs. Debts,
liabilities, property, and assets will all be
included. On a continuous basis, the
accounts section should be able to offer
current information on the company's
financial situation. This is best
accomplished through the balance sheet
preparation. This will offer you a quick
overview of the organization's financial
situation at any given time. The balance
sheet will be useful in analyzing the
company's financial situation and, as a
result, formulating future decisions and
targets.

TRANSFORMERS OF SOCIETY | PAGE 8

Decision
Making
Accounting also has a broader goal of
assisting managers and corporate owners in
making decisions. Systematic accounting
will be a critical component in making
corporate decisions and setting realistic
targets and growth strategies for the
future.

Liquidity
Status
Accounting also needs to have a
thorough understanding of the
organization's liquidity situation. Lack of
adequate accounting can lead to financial
mismanagement in the firm, resulting in
major concerns like as lockout and business
collapse. Accounting should be set up in
such a way that it assists managers and
business owners in determining how much
cash and other resources they have
available to pay for whatever financial
obligations they may have. Liquidity
knowledge will also be useful in
calculating the amount of working capital
and the capital that can be utilized to pay
off liabilities.

TRANSFORMERS OF SOCIETY | PAGE 9

Securing the
positioning
Accounting should aid with the
organization's positioning as one of its
primary goals. Accounting provides you
with a variety of financial statements to
assist you in achieving this goal. The
financial situation of a corporation should
ideally go a long way toward boosting the
company's financial standing.

Accountability
One of the most important goals that
accounting may achieve is to improve the
firm's accountability to the fullest extent
possible. The accounting department of the
company is responsible for providing a
solid foundation for evaluating the
company's actual performance over time.
This will also help to promote the
organization's responsibility in the long
run and across the various levels of the
organizational hierarchy. The accounting
department's financial disclosures can also
be useful in instilling confidence in
shareholders. If the company's performance
is unsatisfactory, the financial statements
can assist shareholders in holding the
company's directors and promoters
accountable. This is also useful if you're
looking for ways to fund your new
ventures. Financial credibility and
accountability can assist you in obtaining
funding, whether through loans or through
investors.

TRANSFORMERS OF SOCIETY | PAGE 10

Legal
Objectives
Accounting can also serve as legal
support for a company's financial situation.
As a result, one of the most important
goals of accounting is to ensure that an
organization's legal requirements are met.
Accounting has been declared a legal
necessity in every country's legislation.
Every business is required by law to
manage and preserve a financial record of
transactions for certain periods of time,
and to share this information with
shareholders, promoters, and regulatory
bodies. Furthermore, proper accounting
may assist you as an organization in
determining the correct financial rights,
obligations, and liabilities in a beneficial
manner.

Detection and
prevention of
fraud
Financial mismanagement and fraud are
two of the most common reasons for a
company's liquidation or losses. One of the
primary goals of accounting is to avoid
fraud and mismanagement by the
documentation of actual transactions.
When the records are correct and authentic,
you may rest assured that no employee of
the company will be able to engage in any
fraudulent financial activity. Accounting
will add much-needed transparency to the
firm's transactions as a whole, ensuring
that fraud is almost eliminated.

TRANSFORMERS OF SOCIETY | PAGE 11

 ROLE OF ACCOUNTING IN
BUSINESS

ACCOUNTING IS USEFUL IN THE COMPANY BECAUSE IT ALLOWS PEOPLE TO TRACK

FINANCIAL ACTIVITIES AND LEARN FROM THE DATA. TO RECORD INCOME ON TAX
FORMS AND KEEP TRACK OF MONIES COMING IN AND OUT OF COMPANY BANK
ACCOUNTS, THE BUSINESS NEEDS BASIC ACCOUNTING. ACCOUNTING DATA, ON THE
OTHER HAND, GIVES USEFUL INSIGHT INTO OPERATIONS, REVEALING PATTERNS AND
POSSIBILITIES THAT MAY HELP ANY FIRM BECOME MORE LUCRATIVE. TAXING
AUTHORITIES WANT PEOPLE TO KEEP AT LEAST RUDIMENTARY BOOKS THAT
MONITOR THEIR INCOME AND EXPENSES. HOWEVER, IF PEOPLE HAVE THE
MOTIVATION AND INCLINATION, EACH CAN TAKE CURRENT ACCOUNTING
PROCEDURES TO THE NEXT LEVEL AND UTILIZE THEM TO BUILD A SMARTER AND
MORE FINANCIALLY SUSTAINABLE COMPANY.

TRANSFORMERS OF SOCIETY | PAGE 12

 Benefits of Taking ABM Strand

Communication Skills

You will learn how to communicate with

various types of people while taking the ABM
Strand track. Managing a company
necessitates clear and precise
communication. You'll learn how to tailor
your communication abilities to the needs of
various business courses.

Finance Skills

This program includes accounting as a

requirement. You will learn how to effectively
manage a business and your own finances by
being familiar with the essential principles of
how money exchanges and the foundational
mathematical syllogisms that make up
accounting theory.

Collaboration Skills
This program includes accounting as a
requirement. You will learn how to effectively
manage a business and your own finances by
being familiar with the essential principles of
how money exchanges and the foundational
mathematical syllogisms that make up
accounting theory.

Accounting, Business, and Management are

the three core criteria of the ABM strand. To
begin with, studying the ABM Strand course
will provide you with numerous options to
build and run your own firm. You will be
taught how to manage your time effectively
and learn a variety of other skills that will be
useful in practically any job line you pick.
(Antonio, 2018)
TRANSFORMERS OF SOCIETY | PAGE 13
 Benefits of Taking ABM Strand

Analytical Skills

Any corporate process requires logical

prowess. Your thinking skills will be
enhanced to their greatest potential with the
ABM Strand track. This is one of the most
important skill sets to master while studying
business, finance, or accounting.

Time Management

Objectively, this is likely one of the most

important abilities you may have, particularly
when you begin your path through higher
education. You'll learn how to manage and
schedule your time so that everything is
efficient, productive, and straightforward.
Because of the heavy effort associated with
the ABM strand, your time management skills
will be honed to near perfection.

Accounting, Business, and Management are

the three core criteria of the ABM strand. To
begin with, studying the ABM Strand course
will provide you with numerous options to
build and run your own firm. You will be
taught how to manage your time effectively
and learn a variety of other skills that will be
useful in practically any job line you pick.
(Antonio, 2018)
TRANSFORMERS OF SOCIETY | PAGE 14
 Impact of Accounting in
our Daily Life

According Honesty
to Carabelli Accounting requires accuracy, although mistakes can and do occur. It's how
you handle blunders that fit within the bounds of professional etiquette. If a
(2019), mismatch in a financial statement is discovered, contact the IRS right away and
accounting file an amended return. You are committing fraud if you deliberately and
has an intentionally attempt to defraud the authorities, your employees, or your
investors. Unethical action can result in a ruined reputation, penalties, and even
impact on incarceration.
both your
personal and
professional Accuracy
You will have a better understanding of the necessity of accounting in your
lives, even professional dealings once you have gained a better understanding of its value
if you don't in your personal life. When dealing with a business, accounting ethics are much
recognize it. more important. You must make sure your figures are correct when reporting
your business income to the federal government. You not only make sure you
This is pay your fair amount, but you also portray yourself accurately to possible
particularly investors.

true when it
comes to
accounting Organization
You may begin to organize your finances once you are aware of them. An
ethics. efficient accounting system will enable you to properly budget as well as
Income optimize deductions when filing your taxes. You might not think to keep your
company supply receipts, track your gas mileage, or save your medical bills at
recognition first. The temptation to build an easy-to-follow accounting system grows if you
and learn that keeping this material organized can result in money back at tax time.
reporting is
a black-and-
white Financial Intelligence
procedure. Accounting gives you financial understanding in your daily life. It is simple to
live over your means if you have no idea how to track your cash outflows. You
Any might be astonished at how much money you squander on useless expenses if
alteration to you sit down and account for all your sources of income and compare those
statistics to your monthly debt commitments. Seeing the numbers in front of you
these
can help you get on track with your budget.
figures to
meet
individual
demands
crosses the
line into
unethical
behavior.

TRANSFORMERS OF SOCIETY | PAGE 15

Importance of
Accounting

The act of monitoring your credit card balance or marking a pending

debit card charge is a sort of accounting, as bizarre as that may
sound.
Accounting, on the other hand, isn't always that unobtrusive. Most families create a weekly or
monthly budget, track their spending, invest, and save money. Each of these procedures is also a
type of accounting. (DevRy, 2021)

Budgeting:
Setting a budget for a client or for oneself is one of the first and most significant things an
accountant performs. To correctly construct a budget, you must thoroughly examine your
income, fixed spending, and liquid assets. After that, you may examine how those statistics
align with your financial objectives.

Spending:
Budgeting correctly entails matching expenditure to income and ensuring that money is left
over in case of an emergency or for savings if no unexpected expenses arise.

TRANSFORMERS OF SOCIETY | PAGE 16

Importance of
Accounting

Investments:
When it comes to investing, the concept of appreciation is crucial. Concepts like the temporal
value of money (TVM) and a good understanding of accounting principles can help you make
prudent future investments.

Taxes:
Setting a budget for a client or for oneself is one of the first and most significant things an
accountant performs. To correctly construct a budget, you must thoroughly examine your
income, fixed spending, and liquid assets. After that, you may examine how those statistics
align with your financial objectives.

Saving Money:
It's critical to save money to create a budget that allows you to meet your objectives while
also supplementing your spending, saving, and investing.

TRANSFORMERS OF SOCIETY | PAGE 17

 PURPOSE OF
ACCOUNTING

Accounting's goal or
purpose is to collect and
report financial
information on a
company's performance,
financial position, and
cash flows. This data is
then used to make
judgments about how to
run the company, invest in
it, and lend money to it.
This data is gathered in
accounting records
through accounting
transactions, which are
either standardized
company operations like
customer invoicing or
supplier bills, or more
specialized transactions
like journal entries.

"The word Accounting comes from the

word Accountability. If you are going to be
rich, you need to be accountable for your
money"

TRANSFORMERS OF SOCIETY | PAGE 18

 THE
COURSES
YOU MAY
PURSUE IN
BACHELOR OF SCIENCE IN COLLEGE
ACCOUNTANCY

The Bachelor of Science in Accountancy (BSA)

prepares students for entry into a variety of fields in
accountancy, including corporate accounting,
accounting information systems, and governmental
accounting. It also prepares students for graduate
programs such as law or the University’s Master of
Accounting Science program.

BACHELOR OF SCIENCE IN
ACCOUNTING TECHNOLOGY
The BS Accounting Technology program is a non-board
program designed to provide students with knowledge
and skills in accounting standards and management.
Students will gain the essential competencies needed in
accounting and bookkeeping, account receivables,
financial analysis and auditing, financial and tax
reporting, and other financial-related services.

TRANSFORMERS OF SOCIETY | PAGE 19

BACHELOR OF SCIENCE IN
BUSINESS ADMINISTRATION

THE BACHELOR OF SCIENCE IN BUSINESS

ADMINISTRATION (BSBA) REQUIRES THAT
STUDENT’S COMPLETE COURSEWORK IN
BOTH BUSINESS AND THE LIBERAL ARTS,
AND THAT THEY COMPLETE NO FEWER
THAN 133 CREDITS, PLUS ADDITIONAL
SEMINARS IN CAREER DEVELOPMENT.

OTHER COURSES YOU MAY

PURSUE WHEN YOU TAKE ABM
AS YOUR STRAND:

·Bachelor of Science in Business Administration

major in Financial Management
·Bachelor of Science in Business Administration
major in Banking and Finance
·Bachelor of Science in Accounting Information
System
·Bachelor of Science in Office Administration
·Bachelor of Science in Office Management
·Bachelor of Science in Office System
Management
·Bachelor of Science in Business Management

TRANSFORMERS OF SOCIETY | PAGE 20

OTHER COURSES YOU MAY
PURSUE WHEN YOU TAKE ABM
AS YOUR STRAND:

··Bachelor of Science in Customs Administration

·Bachelor of Science in Business Economics
·Bachelor of Science in Finance
·Bachelor of Science in Financial Management
·Bachelor of Science in Entrepreneurship
·Bachelor of Science in Legal Management
·Bachelor of science in Internal auditing
·Bachelor of Science in Commerce
·Bachelor of Science in Tourism Management
·Bachelor of Science in Tourism
·Bachelor of Science in Travel Management
·Bachelor of Science in Culinary Management

There are no secrets to

success. It is the result of
preparation, hard work, and
learning from failure
-Colin Powell

TRANSFORMERS OF SOCIETY | PAGE 21
 SUCCESSFUL
FILIPINO
ENTREPRENEURS
WHO STARTED
SMALL

TRANSFORMERS OF SOCIETY | PAGE 22

SOCORRO RAMOS

SOCORRO
According to Inquirer.Net (2019),
Socorro Ramos began her career
in publishing and retail as a
salesgirl in a bookshop. With a
capital of P200, she and her
husband launched National Book
Store in Escolta at the age of 19,
selling books and school supplies
to children. The Japanese
imposed censorship on books
and publications at the time, and
Manila was under their
jurisdiction. She and her
husband supplemented their
income by selling other products
such as candles and soaps.

NATIONAL BOOK
RAMOS

STORE

The Ramoses built a nine-

story structure along
Avenida after the postwar
boom proved successful
for the company, bringing
in higher income. She still
believes in the time-
honored business tradition
of "hands-on approach" at
the age of 95.
TRANSFORMERS OF SOCIETY | PAGE 23
TONY TAN CAKTIONG

TONY TAN
Tony Tan Caktiong used
to own an ice cream
store, which he later
converted into a Jollibee
fast food restaurant. With
a P350,000 start-up
capital and the help of
friends, the young
Caktiong launched two
branches in Cubao and
Quiapo.
CAKTIONG

JOLLIBEE
When consumers started
asking for something other
than ice cream, Caktiong
decided to provide
hamburgers, fried chicken,
and spaghetti. He eventually
had to hire more personnel
as the business grew. Jollibee
has succeeded as a fast-food
giant by understanding the
Filipino consumer.
(Inquirer.Net, 2019)

TRANSFORMERS OF SOCIETY | PAGE 24

EDGAR SIA

Edgar Sia, a native of Iloilo

EDGAR
City, dropped out of college
at the age of 19 to start his
own laundry and photo-
developing business. Sia,
then 26 years old, decided
to launch Mang Inasal, a
BBQ fast food restaurant in
2003. Barbecue.” His initial
location was a parking lot in
a mall in his hometown.

MANG INASAL

The restaurant was a huge

success. When Tony Caktiong
SIA

heard about Sia’s burgeoning

business, he decided to buy
Mang Inasal for a total of P5
billion. Sia eventually put the
sales of Mang Inasal to other
investments like banking and
healthcare. At 42, he’s
considered the country’s
youngest billionaire.
(Inquirer.Net, 2019)

TRANSFORMERS OF SOCIETY | PAGE 25

CRESIDA TUERES

CRESIDA
Greenwich began as a
modest over-the-counter
pizza shop in Greenhills in
1971, founded by Cresida
Tueres. Tueres has a natural
talent for cooking. Her pals
were so taken with the meal
she if they decided to
purchase a Greenwich
franchise of their own.

GREENWICH PIZZA

Jollibee Foods Corporation,

TUERES

impressed by Tueres'
commercial acumen and
Greenwich's expansion,
struck an agreement in 1994
to buy 80 percent of
Greenwich's stock. Since
then, the pizza business has
expanded its menu to
include additional items.
Greenwich set a record with
a P1 billion sale in 1997.
(Inquirer.Net, 2019)

TRANSFORMERS OF SOCIETY | PAGE 26

 MILAG RO S , CLAR IT A,
MILAGROS, CLARITA,
AND DORIS LEELIN

Milagros, Clarita, and Doris

AN D DO RI S
Leelin founded Goldilocks in a
70-square-meter Makati
building with only two cake
displays and ten employees.
Milagros and Clarita, sisters,
have a passion for baking and
chose to turn it into a
business. The Leelins opened
their first branch with the
help of their sister-in-law
Doris.

GOLDILOCKS

Goldilocks debuted its

LEELIN

franchising program in 1991.

The bakeshop franchise had
around 400 locations across
the country as of 2015, with
additional locations in the
United States, Canada, and
Southeast Asia. Goldilocks
has grown from a P66,000
start-up to a multi-million-
dollar food company with
over 4,000 workers.
(Inquirer.Net, 2019)

TRANSFORMERS OF SOCIETY | PAGE 27

JOE MAGSAYSAY

According to Inquirer.Net
(2019), The young

JOE
Magsaysay left school to
bust tables, wash plates,
and work on the cash
register at a fast-food
chain. In a few years, he
became a manager,
handling five stores.

POTATO CORNER

With his background and

MAGSAYSAY

skills in store management,

Magsaysay’s friends asked him
to handle Potato Corner, of
which he was a co-founder.
They pooled their money
together and started the food
cart business in 1992, offering
franchises left and right.
Today, Potato Corner has more
than 550 stalls in the
Philippines and around the
world.

TRANSFORMERS OF SOCIETY | PAGE 28

ASIANG REYES

ASIANG
In the 1930s, Asiang Reyes
started The Aristocrat as a
mobile canteen in Luneta,
serving sandwiches filled
with adobo and other
Filipino viands. Hotdog
trucks were in vogue at that
time. Reyes created her own
version of merienda for
park-goers.

THE ARISTOCRAT
REYES

Reyes was supposed to

name the canteen “Andy”
after her eldest son but
changed it to Aristocrat
instead. The canteen
prospered, and Reyes and
her husband decided to
turn it into a full-time
restaurant. (Inquirer.Net,
2019)

TRANSFORMERS OF SOCIETY | PAGE 29

 ARACELI AND JUN
ARACELI AND JUN
MANAS

Araceli and Jun Manas founded

Hen Lin in 1983 with a capital of
P30,000 and recipes learned
from a Chinese cook. Jun worked
for an insurance company,
whereas Araceli was employed by
a bank. The duo had to educate
themselves on the subtleties of
the industry. They practiced
making siomai, or dumplings, at
night.

HEN LIN
MANAS

In SM Makati, the Manas

couple built the first Hen
Lin store, which was
favorably received for its
delectable dim sum
selections. Hen Lin is still
popular in several malls,
serving hopia, noodles,
congee, rice toppings, and
breakfast cuisine after 30
years. (Inquirer.Net, 2019)

TRANSFORMERS OF SOCIETY | PAGE 30

 TRIVIA FACTS ABOUT
ABM

ACCOUNTING IS DEFINITELY AN ESSENTIAL PART OF RUNNING A BUSINESS BUT IT’S NOT

NECESSARILY AN INDUSTRY ASSOCIATED WITH ‘FUN’ OR ‘EXCITEMENT’. HOWEVER,
THERE ARE A FEW INTERESTING FACTS THAT YOU MIGHT BE SURPRISED TO LEARN, AND
WE’VE PULLED THEM TOGETHER BELOW:

1. first recorded name in history belonged to an 2. Bubble-gum was invented by an accountant

accountant
In his bestseller, Sapiens: A Brief History of Humankind,
Dr. Yuval Noah Harari revealed that the first-ever recorded
name belonged to an accountant. As human beings
began to settle down into larger kingdoms, they needed
to record mathematical data, including taxes and income.
As a result, it became essential that bookkeepers and
accountants took on a prominent role. The first written
text in history, more than 5,000 years ago, is believed to
belong to an accountant who was making a record of
supplies. It read, “A total of 29,086 measures of barley were
received over the course of 37 months. Signed, Kushim.”
Walter E. Diemer was an accountant and the inventor of
bubble-gum. He was born and raised in Philadelphia,
Pennsylvania, where he was working as an accountant
at Fleer in 1926 when the company president sought to
cut costs by making their own gum base.
3. ‘Bookkeeping’ is the only English word to contain
three sets of double letters back-to-back!
TRANSFORMERS OF SOCIETY | PAGE 31
 TRIVIA FACTS ABOUT
ABM

ACCOUNTING IS DEFINITELY AN ESSENTIAL PART OF RUNNING A BUSINESS BUT IT’S NOT

NECESSARILY AN INDUSTRY ASSOCIATED WITH ‘FUN’ OR ‘EXCITEMENT’. HOWEVER,
THERE ARE A FEW INTERESTING FACTS THAT YOU MIGHT BE SURPRISED TO LEARN, AND
WE’VE PULLED THEM TOGETHER BELOW:

4. FBI Accountants were the only ones who could 5. Before a standard numbering system was created,
bring down Al Capone (American mobster and crime ancient accountants kept track of animals and grain
boss) with clay tokens
Upon joining the United States’ Treasury Department
Intelligence Unit in 1920, the accountant, Frank J. Wilson would 6. The father of accounting, Luca Pacioli taught
earn a reputation throughout prohibition as a thorough
Leonardo da Vinci
investigator of tax returns and income. After reviewing
Luca Pacioli was an Italian accountant and
approximately two million documents, he yielded the much-
mathematician. He developed the field of Luca Pacioli
needed information to break Al Capone’s case.
was an Italian accountant and mathematician. He
developed the field of accounting, and he is sometimes
referred to as its father. He also collaborated with

TRANSFORMERS OF SOCIETY | PAGE 32 Leonardo da Vinci, teaching him mathematics, and may
have worked with him on a book of chess strategy.
 TRIVIA FACTS ABOUT
ABM

ACCOUNTING IS DEFINITELY AN ESSENTIAL PART OF RUNNING A BUSINESS BUT IT’S NOT

NECESSARILY AN INDUSTRY ASSOCIATED WITH ‘FUN’ OR ‘EXCITEMENT’. HOWEVER,
THERE ARE A FEW INTERESTING FACTS THAT YOU MIGHT BE SURPRISED TO LEARN, AND
WE’VE PULLED THEM TOGETHER BELOW:

9. Income tax was originally introduced as a

7. Accountants control the ballots for the Oscars
temporary measure to finance the war against
Interestingly, PricewaterhouseCoopers is the
France
accountancy firm that is responsible for tallying the
On 9 January 1799, British Prime Minister William Pitt
votes!
the Younger introduced the income tax to help cover
the cost of his country’s wars with France.
8. The word ‘accounting’ comes from the French
‘computer’ meaning to count or score 10. The words ‘debits’ and ‘credits’ come from the
Latin words ‘debitum’ and ‘creditum’

TRANSFORMERS OF SOCIETY | PAGE 33

ABM201 G R O U P 3 - E A P P

A C C O U N T I N G

REAL- LI FE
TNEMEGANAM
SSENISUB

ADVI CES
FROM
ABM
STUDENTS

AND

TRANSFORMERS OF SOCIETY | PAGE 34

 Papa, John Christian C.
“Many students, from now on, have difficulty making decisions on what strand
they should take in their senior high school journey. Most of us think that this
is difficult because it has math, science, English, etc. But we should wake up
from this mentality because there shouldn't be an exact strand or course that
is easy to take. If we were to think about this, we would never improve
ourselves in those things that are easy for us. I believe that "if we are
unchallenged, we are unchanged." So, we need to challenge ourselves with
those things that it seems hard for us to make changes to.”

Pinca, Danielle T
Being an ABM student is pretty hard, but it is an effective
strand that shapes a person into an outstanding student.
Surely, there are many activities that make a person shy or
nervous, but these activities are what boost our confidence to
maximize our capabilities and capacity. This strand lets you
bring out the best in you.

Placio, Crisha Rose M.

As an ABM student, I recommend this strand for students
who are willing to learn more about business and to help
them decide what the best things to do in business
industries are for the future entrepreneurs of our
country.

Pugao, Shania Mae L.

The ABM strand is for those students who want to pursue
business-related courses. As an ABM student, I can say that
this strand is hard just like the others, but in this one, you will
learn a lot and it will help you improve and develop more of
your skills even more. But of course, it is better if you really
consider those things that you really want and love.

TRANSFORMERS OF SOCIETY | PAGE 35

 Reyes, Veronica M.
Surround yourself with assets rather than liabilities, and
nothing will stand in the way of your dream. For the
dreamer and seeker, there is no such thing as a finish
line.

Ributon, Mary Claire B.

Taking the ABM Strand course will allow you to create and run your own
company. You will be taught how to manage your time effectively and
learn a variety of other skills that will be useful in practically any job line
you pick. One of the most important advantages of studying ABM is that
it allows students to participate in job placements and professional
projects. As an ABM student, you must learn to manage your time, have
a high level of patience, and concentrate and focus on your studies.

Sabarre, Eliza Grace S.

As a student who takes an ABM strand, there are ups and downs
while pursuing this strand. During my senior high journey, I
realized that picking an ABM strand is a little too much for me,
especially when there are times when I need to solve some
financial-related activities, but when I think on the brighter side,
this strand makes me more motivated and eager to learn business
and accounting.

Sajuela, Shaina Victoria

As an ABM student, you can maximize the quality of
data by improving student performance. Remember, it's
not the quantity of data that counts, but how the
information is used. Engage in quality professional
learning at least weekly to ensure delivery of effective
instruction for students.

TRANSFORMERS OF SOCIETY | PAGE 36

 Salting, Shaine Faye G.
As an ABM student, I want to advise
students out there that there is no
such thing as weak-minded people. It
does not matter if you are not that
good at mathematics. What makes a
good and successful student is that he
or she strives hard to learn and
applies it to his or her daily life. Taking
the ABM strand is very beneficial. The
process may be hard at first, but the
finish line will be very satisfying and
worth it. The only thing that matters
here is your perseverance and
willingness to take risks.

Samson, Mariel Clariz M.

As an ABM student, graduating from senior high
school (SHS) is a significant step toward realizing our
long-term goals. ABM is one of the options available
to students. Students can help with projects and
learn basic skills that will help them prepare for
college. If you want to be an accountant or work in
business, this strand is ideal for you. However, if you
never use your head, ABM will be difficult for you. To
be honest, a subject's, lesson's, course's, or strand's
difficulty is still determined by the learner. You might
panic if you never make an effort to study or analyze
that content! ABM is simple if you concentrate and
make it a priority. Having a positive influence friend
is also important. Isn't it fantastic if your squad
works together to reach your life's objectives? This
thread can be made easier and better by having
buddies around you. I will keep my word (memories
and experiences, though <3)

TRANSFORMERS OF SOCIETY | PAGE 37