11 SENIOR HIGH SCHOOL

FABM 2
Quarter 3 – Module 3
Statement of Changes of Equity (SCE)
and Cash Flow Statement (CFS)

1 NegOr_Q3_FABM211_Module3_V2

NegOr_Q3_FABM211_Module3_V2
FABM 2 – Grade 11
Alternative Delivery Mode
Quarter 3 – Module 3: Statement of Changes in Equity (SCE) and Cash Flow
Statement (CFS)
Second Edition, 2021

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Introductory Message

This Self-Learning Module (SLM) is prepared so that you, our dear

learners, can continue your studies and learn while at home. Activities,
questions, directions, exercises, and discussions are carefully stated for you
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Please use this module with care. Do not put unnecessary marks on
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If you have any questions in using this SLM or any difficulty in
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Thank you.

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 I

This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at our own pace and time. You will be
enabled to process the contents of the learning resource while being an active learner.

In this module, you will learn how to prepare an SCE for single/sole proprietorship,
discuss the components and structures of a Cash Flow Statement and prepare a Cash Flow
Statement.

1 NegOr_Q3_FABM211_Module3_V2
Task 1 I

Direction: Multiple Choice. Answer the following questions below. Choose the letter of the
correct answer. You may write your answer on a sheet of paper or in your notebook.

1. _____________ is an account that decreases owner’s equity by withdrawing assets by the

owner.
a. Distribution of Income
b. Withdrawals
c. Additional Investment
d. Beginning Capital
2. The heading of the financial statements includes _______________.
a. Name of Owner, Name of Statement, Date
b. Name of Partners, Name of Statement, Date of Preparation
c. Name of Company, Name of Statement, Date of Preparation
d. None of the above
3. Which is not a part of the Statement of Changes in Equity?
a. Decreases to Equity
b. Increases to Equity
c. Page Header
d. Heading
4. This statement is prepared prior to the preparation of the Statement of Financial Position to
be able to obtain the ending balance of the capital to be used in the SFP.
a. Financial Statement
b. Cash Flow Statement
c. Statement of Changes in Equity
d. Balance Sheet
5. Which of the following assets will not depreciate?
a. Van
b. Motorcycle
c. Building
d. Land
6. Why is Cash Flow Statement important?
a. It shows owners if their revenues are actually translated to cash.
b. It provides analysis of inflows and outflows of cash from/to operating, investing and
financing activities.
c. It provides the net change in cash balance of a company for a period.
d. All of the above

2 NegOr_Q3_FABM211_Module3_V2
7. This method of CFS will show each major class of gross cash receipts and gross cash
payments.
a. Direct
b. Indirect
c. Straight
d. Curve
8. Ana is about to start a printing business and is planning to have a beginning capital of
P200,000. February 1, she invested P50,000 for her to use in the processing of documents
for her upcoming business. In this scenario, how much is her initial investment?
a. P200,000
b. P150,000
c. P50,000
d. None of the above
9. This is an entity whose assets, liabilities, income and expenses are centered or owned by
only one person.
a. Partnership
b. Sole proprietorship
c. Corporation
d. Cooperative
10. A business that is owned by two or more owners.
a. Partnership
b. Sole proprietorship
c. Corporation
d. Cooperative

3 NegOr_Q3_FABM211_Module3_V2
 Lesson
Statement of Changes in Equity
1

The statement of changes in equity is one of the four main financial statements. This
statement normally presents the entity’s capital, accumulated losses, or retained earning
pending on the performance of the entity and the reserves. Preparing this statement considers
the form of business organization because every business form uses a different format.

Before we go further, let us have a brief review on the different forms of business
organization, since these has a very important contribution in the preparation of SCE.

There are different forms of business organizations. These three are the most basic
forms; Sole proprietorship, partnership, and corporation.

Sole/single proprietorship is an entity whose assets, liabilities, income and expenses are
centered or owned by only one person. The owner of a sole proprietorship business is called
“owner”.

Partnership, on the other hand, is an entity whose assets, liabilities, income and expenses
are centered or owned by two or more persons. The owners are called “partners”.

Corporation is an entity whose assets, liabilities, income and expenses are centered or
owned by itself being a legally separate entity from its owners. Owners are called shareholders
or stockholders of the company.

’s In

Task 2
Direction: In your notebook, compare sole proprietorship, partnership, and corporation with
regards to:
1. Form of ownership
2. Liabilities of owners
3. Distribution of income

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 ’s New

Task 3
Direction: In your notebook/paper, compute your personal equity.

1. List down your assets or anything that you own. Make sure to write its
specific monetary value.
2. List down also your liabilities or the amount you owe from anyone.
3. Deduct number 2 from number 1
4. How much is your personal equity and what can you say about it?

is It

What is Statement of Changes in Equity?

Given the accounting equation, ASSETS = LIABILITIES + CAPITAL, we can see

that capital/equity is the residual value after we deduct liabilities from assets. If a business has
too much claim of the business’ assets and capital it means that this business has a very small
amount of liabilities. But it does not mean that this business actually is earning good. On the
other hand, a business can also earn with high assets even with small claims in capital because
that business is operating with higher liabilities.

There are 4 main financial statements. They are: Statement of Financial Condition
(SFC); Statement of Comprehensive Income (SCI); Statement of Changes in Equity (SCE);
and Cash Flow Statement (CFS).

All changes whether increases or decreases to the owner’s interest on the company
during the period are reported in the Statement of Changes in Equity (SCE). This is prepared
before the preparation of the Statement of Financial Position in order to obtain the updated
ending balance of owner’s equity.

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 Below is an example of SCE for a sole proprietorship business:

Santos Printing Services

HEADING Statement of Owner’s Equity
For the Year Ended December 31, 2019

Santos, Capital – Beginning ₱100,000.00

INCREASES Add: Net Income for the Year 2019 50,000.00

TO EQUITY Additional Investment 25,000.00

Sub-total ₱175,000.00
DECREASES Less: Santos, Drawings for the year 30,000.00
TO EQUITY Santos, Capital, Dec. 31, 2019 ₱145,000.00

As to what is being shown above, Statement of changes in Owner’s Equity has three
parts: the heading; the increases to equity; and the decreases to equity.

1. Heading is composed of the following:

i. Name of the company
ii. Name of the statement
iii. Date of preparation – do not forget to use the word “for the”

Before the increases to Equity is written, the initial investment is listed first right after
the heading.

Initial investment is the very first investment of the owner to the company, this is also
labeled as the Beginning Capital.

2. Increases in equity is composed by the following:

i. Net income for the year – this can be taken from the Statement of
Comprehensive Income
ii. Additional investment – these are additional investments made by the
owner of the company.
3. Decreases to equity includes the following:
i. Net Loss for the year – this is found in the Statement of Comprehensive
Income but only written once the company experiences net loss
ii. Withdrawals by the owner – decrease to owner’s equity by withdrawing
assets by the owner.

After which is the ending capital that shows the updated balance of owner’s equity by
the end of the year.

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 Below is an example of SCE for partnership business:

S A A Computer Store
Statement of Changes in Partners’ Equity
HEADING
For the Year Ended December 31, 2019

Capital – Beginning ₱100,000 100,000 150,000

INCREASES Add: Net Income 2019 50,000 50,000 50,000

TO EQUITY Additional Investment 25,000 20,000 10,000

Sub-total ₱175,000 170,000 210,000

DECREASES
Less: Withdrawals for the year 30,000 15,000 20,000
TO EQUITY
Santos, Capital, Dec. 31, 2019 ₱145,000 155,000 190,000

The Statement of Changes in Partners’ Equity is used by a partnership instead of the

Statement of Changes in Owner’s Equity. The difference between the two are as follows:
a. Title – instead of owner’s equity, “partners’” is used to demote that this is a partnership.
b. There are two or more owners in a partnership thus, the changes in the capital account
of each partner is presented.
c. The net income is divided between partners depending on their partnership agreement.

ABCD Corporation
HEADING Statement of Changes in Shareholders’ Equity
For the Year Ended December 31, 2019

Capital – Beginning ₱1,000,000

INCREASES Add: Share Issuance 500,000
TO EQUITY Net Income 2019 150,000

DECREASES Less: Distribution of Income (100,000)

TO EQUITY
Capital, Dec. 31, 2019 ₱ 1,550,000

7 NegOr_Q3_FABM211_Module3_V2
The Statement of Changes in Shareholders’ Equity is used by a corporation instead of the
Statement of Changes in Owner’s Equity. The differences between the two are as follows:

a. Title – “shareholders’” is used rather than “owner’s” or

b. Unlimited number of shareholders, unlike partnership, names are not included in the
statement and instead the corporation do have their own lists of shareholders.
c. The capital account is called share capital (just like owner’s being shareholders)
d. Share issuance is used instead of additional investment. Issuance of shares are done
once shares are sold to shareholders and this increases the share capital of the
corporation.
e. Instead of withdrawals, distribution of net income to shareholders decreases the
Capital of the corporation

In computing for the Ending Capital in the SCE you just need to follow this formula:

Ending Capital = Beginning Capital + Increases to

Equity – Decreases to Equity

’s More

Task 4
Direction: Create a Venn Diagram showing the similarities and differences between the SCE
of a Sole Proprietorship, Partnership, and Corporation. Write your answer in your notebook or
in a clean sheet of paper.

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 I Have Learned

Task 5
Direction: In your notebook, complete the following statements.

1. I have learned that

_____________________________________________________________________
_____________________________________________________________________
2. I have realized that
_____________________________________________________________________
_____________________________________________________________________
3. Why is Statement of Changes in Equity important in a company?
_____________________________________________________________________
_____________________________________________________________________

I Can Do

Task 6
Direction: Answer the following problems pertaining to changes in equity. Write your answer
in a clean sheet of paper or notebook.
1. Beginning owner’s equity amounted to P400,000. Net income for the year totaled
P45,000 and additional investments is P25,000. No withdrawals for the period.
Compute for total increase and decrease in equity for the year.
2. Ending owner’s equity amounted to P90,000. Additional investments during the year
amounted to P40,000. Withdrawals totaled P13,000. Compute for the company’s net
income for the year assuming beginning equity is P15,000.

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 PROBLEM RUBRICS

CRITERIA No Poor Needs Proficient Advanced

Submission (2 points) Improvement (4 points) (5 points)
(0 point) (3 points)
Presentation No solution Incomplete Has complete Correct and Correct and
of Solution submitted presentation of presentation ofwith few minor with no
solution and solution buterrors in the errors in the
with major with errors presentation of presentation
errors solution of solution
Statement of No solution Students does Preparation of Preparation of Preparation
Cash Flows submitted not solution solution has of solution
demonstrate contains many minor errors is correct,
an errors with no
understanding errors
of the problem
Discussion #2 Ideas Shows 25% Shows 50% Shows 75% 100% Well-
/response not developed developed developed developed
evident ideas/response ideas/response ideas/response ideas/
response

Task 7
Direction: Do what are asked below. Write your answer in a clean sheet of paper or notebook.
1. Prepare the Statement of Changes in Equity for year ending December 31, 2020 of Cruz
Laundry Shop owned solely by Ramona A. Cruz. The following are the conditions:
a. December 2019, Capital recorded is P365,000.00
b. During the year she withdrew P20,000 for two consecutive months.
c. Reflected in the annual statement of comprehensive income during the year, net income
is P150,555.00.
d. No net loss experienced during the year but was able to experience break even for the
first 3 months.
e. June of the same year, she invested P190,000.
2. Owner, Alfred Martinez invested an initial capital amounting P55,000 in order to put
up his Coffee Shop business. During the first year of operations (2016), the business
loss P20,000. Because of this, Alfred invested additional capital amounting to P70,000
in 2017. In the second year (2017), the business had a net income of P100,000 and
Alfred withdrew P10,000 for personal use. Prepare the statement of changes of equity
for Alfred’s Coffee Shop for year 2017.

10 NegOr_Q3_FABM211_Module3_V2
NegOr_Q3_FABM211_Module3_V2 11
Task 7 Assessment
1.
Cruz Laundry Shop
Statement of Changes in Owner’s Equity
For the year ended December 31, 2020
2.
Martinez Coffee Shop
Statement of Changes in Owner’s Equity
For the year ended December 31, 2017
Lesson 1
Task 2 What’s In 1. b
Task 1 What I know
Answers may vary 2. c
11. b 3. c
Task 3 What’s New
12. c 4. c
Answers may vary
13. c 5. d
Task 4 What’s More 14. c 6. d
Answers may vary 15. d 7. a
Task 5 What I have learned 16. d 8. c
Answers may vary 17. a 9. b
18. c 10. a
19. b
20. a
 Lesson
Cash Flow Statement
2

One of the 4 main financial statements is Cash Flow Statement (CFS) or the Statement
of Cash Flow. This is a financial statement that summarizes the amount of cash and cash
equivalents entering and leaving a company.

The CFS measures how well a company manages its cash position, meaning how well
the company generates cash to pay its debt obligations and fund operating expenses.

’s In

Task 1
Direction: Define the following terms.
1. Accrual - ___________________________________________________________
2. Depreciation - ______________________________________________________
3. Cash Outflow - _______________________________________________
4. Cash Inflow - _________________________________________________
5. Cash Balance - _____________________________________________________

’s New

Task 2
Direction: In your notebook/paper answer the following questions:
1. How much money you receive every day (allowance)?
2. How much money do you spend every day (for snacks, load, etc.)?
3. How much do you save every month? Are you happy on what is left for
your savings? Why or why not?

12 NegOr_Q3_FABM211_Module3_V2
 is It

Cash Flow Statement

Cash flow statement provides an analysis of inflows and/or outflows of cash/to

operating, investing and financing activities. This statement shows cash transactions only
compared to the SCI which follows the accrual principle.

The main elements of the Cash Flow Statement are the following:

1. Cash from operating activities – this includes any sources and uses of cash from
business activities. These activities reflect how much cash is generated from a
company’s products or services. These might include:
a. Receipts from sales of goods and services
b. Interest payments
c. Income tax payments
d. Payments made to suppliers or goods and services used in production
e. Salary and wage payments to employees
f. Rent payments
2. Cash from Investing Activities – include any sources and uses of cash from a
company’s investments. A purchase or sale of an asset, loans made to vendors or
received from customers, or any payments related to a merger or acquisition is included
in this category. In short, changes in equipment, assets, or investments relate to cash
from investing.
Usually cash in this part of the CFS are “cash out” items because cash here is used to
purchase new equipment, buildings, or short-term assets. But when a company will sell
assets, the transaction is “cash in” for calculating cash from investment.
3. Cash from Financing Activities – include the sources of cash from investors or banks
as well as the uses of cash paid to shareholders. Payment of dividends, payments for
stock repurchases, and the repayment of loans are included in this category.

Importance of CFS

Cash flow statement is important because it provides the net change in the cash balance
of a company for a period. This helps owners see if their revenues are actually translated to
cash collections or if they have enough cash inflows in order to pay any maturing liabilities.

13 NegOr_Q3_FABM211_Module3_V2
 CFS also monitors the liquidity of cash inflows and outflows of a company to act if
there are financial issues encountered.

Method in Calculating CFS

There are two methods in calculating cash flow: the direct method and the indirect method.
1. The direct method adds up all the various types of cash payments and receipts, including
cash payments and receipts, including cash paid to suppliers, cash receipts from
customers, and cash paid out in salaries. These figures are calculated by using the
beginning and ending balances of a variety of business accounts and examining the net
decrease or increase in the accounts.

Below is an example of a Cash flow Statement using direct method:

Cruz Laundry Shop
Cash Flow Statement HEADING
For the year ended December 31, 2016

OPERATING
Cash flows from Operating Activities
ACTIVITIES
Receipts from Customers ₱ 1,000,000
Payments to Suppliers and Employees (700,000)
Net Cash Generated by Operating Expenses ₱ 300,000
INVESTING
Cash flows from investing activities ACTIVITIES
Purchases of Property and Equipment (₱ 150,000)
Net Cash Used in Investing Activities (₱ 150,000)
Cash Flows from Financing Activities FINANCING
ACTIVITIES
Long Term loan from a bank ₱ 300,000
Additional investment from owner 100,000
Withdrawals by owner (80,000)
Net Cash generated by Financing Activities ₱ 320,000
Net increase in cash and cash equivalents ₱ 470,000
Cash, January 1, 2016 100,000
Cash, December 31, 2016 ₱ 580,000

14 NegOr_Q3_FABM211_Module3_V2
 2. Indirect method. In this method, cash flow from operating activities is calculated by first
taking the net income off of a company’s income statement. Because a company’s
income is prepared on an accrual basis, revenue is only recognized when it is earned and
now when it is received. Net income is not an accurate representation of net cash flow
from operating activities, so it becomes necessary to adjust earnings before interest and
taxes for items that affect net income, even though no actual cash has yet been received
or paid against them. The indirect method also adjusts add back non-operating activities
that do not affect a company’s operating cash flow.
For example, depreciation is not really a cash expense, it is an amount that is
deducted from the total value of an asset that has previously been accounted for. That
is why it is added back into net sales for calculating cash flow.

Here is an example of CFS using indirect method.

LEARNING IS FUN COMPANY HEADING

CASH FLOW STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2016
OPERATING
Cash flows from Operating Activities ACTIVITIES
Net Income ₱ 250,000
Add back: Depreciation 20,000
Loss on sale of property and equipment 10,000
₱ 280,000
(Increase)/Decrease in Trade and Other Receivables - Net (40,000)
Increase/(Decrease) in Trade and Other Payables 60,000
Net cash generated by Operating Activities ₱ 300,000
INVESTING
Cash flows from Investing Activities ACTIVITIES
Purchases of Property and Equipment (₱ 150,000)
Sale of Property and Equipment 30,000
Net Cash flow from Investing Activities (₱ 120,000)
Cash flows from Financing Activities FINANCING
Long term loan from a bank ₱ 300,000 ACTIVITIES
Additional investment from owner 100,000
Withdrawals by owner (80,000)
Net cash generated by Financing Activities ₱ 320,000
Net increase in cash and cash equivalents ₱ 500,000
Cash, January 1, 2016 100,000
Cash, December 31, 2016 ₱ 600,000

Direct and indirect methods are two different methods in computing the CFS but one
thing is common, they only use or record cash transactions.

15 NegOr_Q3_FABM211_Module3_V2
 ’s More

Task 3
Direction: Answer the questions below. Write your answer in a whole sheet of paper or in your
notebook.
1. What are the elements of the CFS? Give examples for each element.
2. What is the difference between the direct and the indirect method of computing the
CFS?

I Have Learned

Task 4
Direction: In your notebook, complete the following statements.
1. I have learned that
_____________________________________________________________________
_____________________________________________________________________
2. I have realized that
_____________________________________________________________________
_____________________________________________________________________
4. Why is Cash Flow Statement important in a company?
_____________________________________________________________________

16 NegOr_Q3_FABM211_Module3_V2
 I Can Do

Task 5
Direction: Answer the following word problems pertaining to changes in equity. Write your
answer in a clean sheet of paper or notebook.
1. The company presented the following in order to aid the accountant in preparing the
CFS:
a. Sale of equipment: P 20,000
b. Payments to Suppliers and employees: P25,000
c. Withdrawals by owners: P70,000
d. Purchase of property and equipment: P200,000
e. Long term loan from bank: P150,000
f. Receipts from customers: P100,000
Compute for the cash generated in financing activities, operating activities, and
investing activities.
STATEMENT OF CASH FLOW RUBRICS
CRITERIA No Poor Needs Proficient Advanced
Submission (2 points) Improvement (4 points) (5 points)
(0 point) (3 points)
Presentation of No project Incomplete Has complete Correct and Correct and
the Statement submitted presentation presentation with few with no
of Cash Flow of CFS and of CFS but minor errors errors in
with major with errors in the the
errors presentation presentation
of CFS of CFS
Statement of No project Students does Preparation of Preparation of Preparation
Cash Flows submitted not CFS contains CFS has of CFS is
demonstrate many errors minor errors correct,
an with no
understanding errors
of how CFS is
presented
Discussion #2 Ideas Shows 25% Shows 50% Shows 75% 100% Well-
/response developed developed developed developed
not evident ideas/response ideas/response ideas/response ideas/
response

17 NegOr_Q3_FABM211_Module3_V2
Task 6
Direction: Do what are asked below. Write your answer in a clean sheet of paper or notebook.
A. Identify which of the following transactions fall under operating, investing and
financing. Write O for Operating, I for Investing, F for Financing and NC for Non-Cash
Transaction.
1. Cash received from customers
2. Cash paid to suppliers
3. Cash paid to employees
4. Cash paid to purchase equipment
5. Cash received from sale of furniture
6. Depreciation expense
7. Sale of goods on credit
8. Purchase of goods on credit
9. Cash received from getting a loan from a bank
10. Cash paid to owners
B. Prepare a Cash Flow Statement using direct method of Gina’s Little Market
considering the following transactions for the year ended December 2020:
a. December 2019 Ending Capital 250,000
b. Purchase of goods. Paid cash 200,000
c. Sale of goods. Received cash 850,000
d. Paid utilities 30,000
e. Paid rent 10,000
f. Sold equipment for cash 100,000
g. Owner withdraws investment 10,000

Give some thoughts about this statement:

“A company can earn a lot, have numerous assets and yet have very small equity.”

18 NegOr_Q3_FABM211_Module3_V2
 NegOr_Q3_FABM211_Module3_V2 19
Lesson 2
Task 1 What’s in
Answers may vary
Task 2 What’s New
Answers may vary
Task 3
What’s more
Answers may vary
Task 4 What I have learned
Answers may vary
Task 5 What I can do
Net cash generated from operating
activities = 125,000
Net cash generated from investing
activities = (P180,000)
Net cash generated from financing
activities = 80,000
Task 6
A.
1. O
2. O
3. O
4. I
5. I
6. NC
7. NC
8. NC
9. F
10. F
References

n.d. Accounting Verse. https://www.accountingverse

Murphy, Chris B. 2021. investopedia.com/investing/whatisacasflow. 10 21. Accessed 12 14, 2021.
https://www.investopedia.com/investing/what-is-a-cash-flow-statement/.
Reymond Patrick P. Monfero, Calsberg S. Andres, Dani Rose C. Salazar, Christopher B. Honorario. 2016.
Teachers Guide for Senior High School Fundamentals of Accountancy, Business, and
Management 2. Quezon City: Commission on Higher Education.

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