[Music] hello dear students welcome to circus accounting lessons ph this is lesson 34 our subject orientation for the subject fundamentals of accountancy business and management part two so at the end of the video you should be able to have a basic understanding of the purpose of the subject and enumerate the lessons and topics covered by the subject fabm2 again this is search was accounting lessons ph and thank you for your continuous support in my channel hello and welcome the nasa part okay so congratulations on and you will soon enter the workforce you will soon enter college so i'm very very excited for all of you okay so before anything else please watch pumuna and review all lessons in fundamentals of abm part 1 using the videos in this channel from lesson001 two zero thirty three so now refreshment if you want refreshment and all of your f abm one lessons all of those videos are available in this channel so if if it's your first time in uh this channel and uh you are a student review fab one a hindi can wanna come in channel so you can review the lessons for fundamentals of abm one in this channel punta chalampo is our previous videos in this channel okay and then um this is for actually grade 12 first semester for schools under the department of education however i think there are some schools [Music] for the subject but most of the schools offer this subject in grade 12 for a semester anyway so the prerequisite subject for part two is employing fundamentals of abm part one that then okay so before we start can you please represent your school and comment down the name of yours okay actually this uh lesson tutorials are being created on the onset of the covet 19 pandemics online learning blended learning so i hope that you will find my videos very very helpful as we face this pandemic [Music] so i hope that i can continue uh helping you with the release of this uh of these videos of this video lessons so uh whether you are a teacher or a student please represent your school is coming from provinces and other cities support for this channel okay so the lesson distribution for fundamentals of abm part two is constructive accounting and industry-based learning okay so uh in constructive accounting uh you will learn here how to properly prepare a balance sheet income statement capital statement and cash flow statement so that's actually the four basic financial statements in fundamentals of abm one however we will be deepening we will be expanding your learnings in how to prepare these financial statements okay and then we will also be having some industry-based learning which is a financial statements analysis so hindi lantauma prepare financial statements we will also be analyzing these financial statements and then we will also be talking about banks bank transactions and bank reconciliation statement and we will also be now dealing with basic taxation principles okay actually uh senior high school is designed uh either for you to enter college or to enter the workforce so i think that if you opt to enter the workforce then these concepts will also be very very helpful for you for a junior position in some companies should they accept senior high school graduates okay so let me give you a glance of the topics that will be discussed in favor ii this is aligned with the curriculum guide for this subject with the department from the department of education however we will not be dealing in this video lessons that talks about or you will be doing an accounting practice set so just please check with your school if you will be doing an accounting practice set or not but that's the recommendation of the department of education anyway for my channel we will be discussing the statement of financial position the statement of comprehensive income the statement of changes in equity the statement of cash flows financial statements analysis bank documents and transactions bank reconciliation statement and basic income in business taxation let's talk about them one by one okay so the the statement of financial position or the balance sheet we will be talking about the elements of the balance sheet which is assets liabilities and capital so those terminologies are actually discussed with you already in fundamentals of abm one so we will be going back to them again and then we will be deepening our knowledge about current and non-current assets and then current and non-current liabilities so we will be properly preparing an industry standard balance sheet okay and then we will you will also learn how to prepare balance sheet in account form and a balance sheet in report form our next lesson after the balance sheet is the income statement the statement of comprehensive income so we will be going back again to how to prepare a single step income statement for service companies which is revenue minus expenses and then the multi-step merchandising company income statement which is net sales minus cost of goods sold which is equal to gross profit less operating expenses equals to net income okay and then we will also review how to prepare income statement in functional presentation and the natural presentation the function of expense method and the nature of expense method after we complete our lesson in income statement we will be talking about the the statement of changes in equity or the capital statement we will we will be recalling the different forms of business organizations and we will be preparing capital statement for sole proprietorship i might also give you an introduction on the capital statement of a partnership and a corporation okay and then we will also be talking about the statement of cash flows um we will be talking about the direct method statement of cash flows only on a senior high school level so this video lessons will not be covering a a higher level intermediate accounting statement of cash flows lesson and then the indirect method of preparing statement of cash flows after you learn the preparation of financial statements we will be ready to analyze them so we have different techniques and analyzing financial statements and in this in fab m2 we are we will be talking about the horizontal analysis the vertical analysis and ratio analysis and interpretation of the ratios so financial and financial statements analysis is a technique for managers to understand how the company performs or are they liquid are they solvent are they profitable or not okay so you we will be learning those things in this lesson you will be also introduced to bank documents and transactions just a premise companies keeps their cash in the bank so it's important for you guys to understand bank transactions okay so we will be talking about different types of bank accounts bank transactions deposits and withdrawal slips how to prepare checks what are the parts of a check and then how do you interpret or how do you read information in the bank statement okay and then since the company is keeping their cash in the bank and they also maintain their own personal records we will be talking about bank reconciliation statement we will reconcile the balance the bank balance as given by the bank and the bank balance that your ledger tells you and those should reconcile okay so we will be reconciling bank statement balance versus ledger balance and then the adjusted balance method of the bank reconciliation statement the bank the book method of the bank reconciliation statement and the book to bank method also of the bank reconciliation statement and then you will also be introduced with basic income and business taxation principles so we will be talking about the general principles of taxation how to properly compute taxes for monthly compensation how to compute annualized calculation of individual income tax and let's have a very little introduction about value-added taxes okay so i hope that you will be with me again for the whole semester and for the whole fabm2 videos our next lesson will formally start with the statement of financial position for webinar and speakership invites please send me a message at kevintroy.ochua1994 gmail.com this is kevin troy m chua cpa this is search was accounting lessons ph to god be all the glory honor and praise thank you and have a great day