iY The first time we were supposed to meet our fundamental accounting teacher we didn't meet. He gave a video about accounting and what accounting really is. What | learned from the video given to us is what information accounting really is, | was happy while watching the video. | hope that in the next few days that i will know and learn more about what accounting is and what is the importance of accounting, | am excited to know what else | should know and learn about (ocala Lette Oe7] topic which is Fundamental Accounting. What | earned in our week 2 is how to grow and expand a business. | also learned the different types of Cee MOLM COLTRI Changes is Equity, Statement of Cash Flows, and the Balance Sheet. | also learned the ways of obtaining profit, and business activitites that build it worth. Another thing I learned about the four accounting areas is Management Accounting, Financial Accounting, Tax Accounting and the Goverment. | am very happy because, | learned a lot in accounting. | still want to learn 4 f more about the Fundamental Accounting TT TacNG '| In our third meeting on Fundamental Accounting our teacher discussed chapter two and chapter three. Chapter two is Global E-Commerce, What | learned in this subject is changes taking place in the Business Enviroment, and what | learned in our third chapter is Analyzing Transaction to start a Business. | learned what the three elements of financial position are, which are Assets, Liabilities and Equity. Assets on the other hand are used to run the business and are expected to benifit the business over the number of years, And Liabilities are defined as business debts due to external parties such as banks, financing companies and supplies of product and services, And Financial Equity is defined as the owner's residual right or interest in the entity's net assets. Another thing | will learn is the Accounting Equation of how to do the right thing to get the total of a business. And in the business transaction | learned how to transact a business and see the income of a business or a company. And that's all | learned in our third meeting on Fundamental Accounting.BAO2 - PRELIMINARY EXAMINATION Total points EEE] @ The respondent's email (202211492@btech.ph.education) was recorded on submission of this form, LAST NAME, FIRST NAME MLL. * PASCUAL, MARK ANDREW P. STUDENT NUMBER * 20221149224 sé x as : UYihzde Our week 5 topic in Fundamental Accounting. Ms.Cutamora has already posted the video presentation and powerpoint presentation that is about Equation Expanded to Show Operating Expenses. We is referred to as the "expanded" accounting equation: Assets = Liabilities + (Common Stock - Dividends + Revenues - Expenses ) This expanded equation takes into consideration the components of Equity. Equity increases from revenues and owner investments and decreases from expenses and dividends. | also read the classification of assets & liabilities, there are current assets, non-current assets, current liabilities and non-current liabilities. | also read the classification of assets & liabilities, there are current assets, non-current assets, current liabilities and non-current liabilities. As well as what is included in the accounting period such as the fiscal year, ;~ calendar year and the Interim financial statements. Be ; also read the importance of the operating cycle as well” a pe ; = our week 5.Our topic this week is about Double Entry Bookkeeping for a Service Provider. What | learned from our topic is the four easy steps of the accounting cucle. First is collecting data based on various documents, Second is analyzing and recording these documents in a book journal, Third is classifying and posting from the journal to another book called the ledger, And the last is extracting the balances of each of the accounts found in the ledger and preparing a trial balance. Besides, | also read the two books of original entries, the Special Journal and the General Journal. And | also read the two books of final entries which are the General Ledger and Subsidiary Ledger. | also saw the solutions on how to get cash, debit, credit, and also the balance. | learned a lot from our topic and | want to learn a lot and gain more knowledge about the accounting subject.