MODULE 3 ACTIVITY 1

1. List down three a) areas or topics in Accountancy that interest you most
b) Three areas or topics in Accountancy that you believe you know best, and
c) Three theories, models, principles, or rules in Accountancy and other related
subjects which you believe are difficult to understand. As a guide, you may use the
matrix below:
a) Areas or topics in b) Areas or topics in c) Theories,
Accountancy that Accountancy that Models,
are interesting to you know best Principles, or
you Rules which are
difficult for you
1. Accounting Information Presentation of financial Monetary unit
system statements assumption
2. Employee benefits Financial instruments Matching Principle
3. Business Combinations Bank reconciliation IAS 12/PAS 12 Income
taxes

2. Choose one from each column above. State your reason(s) for choosing each of them.
As a guide, you may fill up the matrix below.
a) Areas or Topics b) Areas of Topics c) Theories,
in Accountancy in Accountancy models,
that are that you know Principles, or
interesting to best rules which
you are difficult for
you

Your Accounting Information Presentation of financial Matching Principle

most System statements
preferr
ed
choice
Reason The work of accountants It is critical for us to be Prepaid and Accrued
for and auditors is changing able to read and grasp Expenses are dealt
choosi dramatically as the these documents as with using the
ng accounting business accounting students. One Matching Principle.
becomes more of the most important When preparing
computerized. talents for prospective modifying entries,
Accounting professionals CPAs, investors, understanding the
are now viewed as entrepreneurs, and Matching Principle is
system managers, managers to have is the beneficial.
information analysts, ability to analyze a It's a bit confusing
and/or counselors, rather company's financial when to record a cost.
than performing many of health. Investors can When expenses are
the laborious activities better discover intriguing recorded too early, the
that are being done by prospects while avoiding Net Income is
computer systems. unnecessary risk, and understated. When
Accounting information professionals at all levels expenses are recorded
systems specialists can make more smart late, the Net Income is
typically work in business decisions using overstated. As you
accounting systems, this information. may expect, using this
 systems design, approach wrong leads
accounting systems in financial statements
management, auditing, that are misleading.
consulting, and other
areas of accounting that
are related to systems.

3.Discuss your three choices and the reasons why you choose them with your groupmates.
Seek their opinion on the novelty and value of your choices. Come up with your own final
decision on which topic you will study.