MACALAWI, Nizreen M.

MA3

Individual Narrative Report - AfforDa Go!

Making a financial statement is not easy. Especially when there’s a lot of line items
you need to account for. Businesses like restaurants or food chains who do different
kinds of products are examples. Each product should be accounted for by its
ingredients or raw materials used in producing the products. Preparing financial
statements could be exhausting, especially when you encounter problems/ conflicts
we couldn’t avoid.

Recently, we were tasked to assist in the preparation of a financial statement for

AFFORDA GO business during the Kahibulungan Bazaar event. AfforDaGo's
primary objective is to provide high-quality snacks and drinks at an affordable price
that will suit their target market’s budget and become a competitive snack provider
with good customer service at our customers’ convenience. During the preparation of
the financial statement, we almost lost our patience because we couldn’t balance the
financial position due to minor errors. We mistakenly added line items we weren't
supposed to. Just like that, a small thing or mistake can affect the entire process. On
the other hand, It took us a long time to start preparing the financial statement
because we were not able to contact the owners of the business immediately, since
we also don’t know each other. In addition the data given to us was not organized
well, we still need to identify the direct and indirect materials, the store supplies,
things they acquire for the advertisement purposes, and the like. We were also able
to communicate with the business owners for the unlisted data, and we didn’t have
any problem about reaching out to them because they were approaching and
accommodating. In the end we were able to correct the income statement and
balanced our statement of financial position. And as a result, the AfforDa Go was
able to generate profit with their small start-up capital.

Despite the challenges we have encountered before and during the preparation of
financial statements, I could say patience is really the key for us to succeed and get
what we desire. And I am very thankful for my understanding and well balanced
groupmates, Ms Rianne Christine Macalood and Florie May Hizo. And the
participation of the BSBA students is much appreciated.