Project Bookkeeping, A Project to Keep Enhancing Accounting Competencies of Accountancy, Business and Management Students of Conde Labac Integrated School

Abstract

INTRODUCTION

Accounting is the systematic and comprehensive recording of financial transactions of a business. Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business, ensuring that all transactions are correct. Transactions include purchases, sales, receipts, and payments by an individual or an organization or corporation. While bookkeepers and accountants share common goals, they support one’s business in the different stages of the financial cycle. The knowledge and expertise that come with earning a certification will prepare an individual or an organization in handling accounting, bookkeeping and tax issues small business owners’ face. This study aims to assess the level of competence of Accountancy, Business and Management Students of Conde Labac Integrated School in the following areas: a) systematically recording transactions, b.) sorting and analyzing transactions, and c.) preparing financial statements.

METHODS

The descriptive method of research was utilized. A Pre-Assessment Exam was conducted to gather data. Statistical analysis such as mean and mean comparisons was also utilized.

RESULTS

The result implies the need for enhancement of accounting competencies in the Accountancy, Business and Management Students of Conde Labac Integrated School. The following results were discovered: the respondents fall under the average at systematically recording transactions, while sorting and analyzing transactions and preparing financial statements falls under the average level.

DISCUSSIONS

The result demonstrates the need for enhancement of these competencies beneficial to the students in taking examinations for a TESDA Certification in Bookkeeping. The NC3 qualification consists of competencies that a student must achieve to enable him /her to journalize transactions, sort and analyze transactions and prepare financial statements.