Bookkeeping Cycle

Over-all Objectives: Manifest the ability to apply bookkeeping for the established entrepreneurial activity.
1.1. Identify the main responsibilities of a bookkeeper
1.2. Show understanding of the basic bookkeeping terms and forms
1.3. Perform key bookkeeping tasks (for Merchandising business)

1.3.1. Perform the 5 Major Basic Process of Recording Business Transactions

1.3.1.a. Identifying the accountable accounting transactions from a Source Documents
1.3.1.b. Verifying the Source Documents
1.3.1.c. Analyzing the accountable accounting transactions
a. Analyzing the transaction in the bookkeeping equation
b. Analyzing the accounting elements affected by the transaction
c. Analyzing the effects of the transaction in the accounting elements
d. Assigning the account titles to be debited and credited
e. Computing the amounts to be debited and credited
e.1. Computing the trade discount
e.2. Computing for the cash discount

1.3.1.d. Journalizing the transactions in the book of original entries
a. Journalize simple merchandising transactions
b. Journalize merchandising transactions with trade and cash discount
c. Journalize merchandising transactions with trade, cash discount and
transportation terms.
1.3.1.e. Posting the entries in the book of final entries

1.3.2. Perform other bookkeeping for merchandising topics
1.3.2.a. Differentiate the 2 methods of recording cash discounts
1.3.2.b. Determine the ownership of merchandise while in transit and payor of shipment

1.4. Prepare key bookkeeping reports
a. Preparing a simple merchandise inventory report
b. Preparing the first part of the income statement of a merchandising entity
c. Journalize transactions in the Special Journals

1.5. Evaluate the success or failure of the ones business thru financial statements



































TECHNOLOGY AND LIVELIHOOD EDUCATION
BUSINESS MANAGEMENT WITH BOOKKEEPING II

MASTERED AND LEAST MASTERED SKILLS FOR THE FIRST PERIODICAL TEST RESULT
FOURTH YEAR
S.Y. 2013-2014

MASTERED SKILLS LEAST MASTERED SKILLS
1. Identifying the accountable accounting transactions 1. Identifying the transaction occurred in the
2. Identifying the different source documents source document.
3. Verifying the source documents 2. Analyzing merchandising transactions in the
4. Analyzing the accounting elements affected by bookkeeping equation
the transaction 3. Assigning the account titles to be debited and
5. Analyzing the effects of the transaction in the credited.
Basic elements of Accounting.