Grade 11 Business 1 (Basic Accounting)

Content standard

The learners demonstrate understanding of the fundamental concepts and principles of accounting and accounting for service business.

Performance standard

The learners analyze key accounting functions and principles relevant to real enterprise operations such as type of business, books of accounts used, and accounting process methodology.

Learning competencies (7)

• BASACC-G11-Q1-01

  Discuss the nature, history and branches of accounting and its offered services

• BASACC-G11-Q1-02

  Explain the basic accounting framework

• BASACC-G11-Q1-03

  Distinguish the five major accounts and their classifications

• BASACC-G11-Q1-04

  Analyze simple business transactions following the rules of debit and credit

• BASACC-G11-Q1-05

  Distinguish the book of accounts

• BASACC-G11-Q1-06

  Discuss Balance Sheet as a Financial Statement

• BASACC-G11-Q1-07

  Analyze service business transactions and the required source documents

Content standard

The learners demonstrate understanding of concepts and principles of accounting for merchandising business.

Performance standard

The learners complete the practice sets following the accounting cycle for merchandising business using the perpetual and the periodic methods.

Learning competencies (4)

• BASACC-G11-Q2-01

  Discuss merchandising business transactions and the required source documents using the perpetual and periodic methods

• BASACC-G11-Q2-02

  Explain shipping and delivery terms using the perpetual and periodic methods

• BASACC-G11-Q2-03

  Prepare complete accounting worksheets following a record of transactions in the merchandising business using the perpetual method and periodic method

• BASACC-G11-Q2-04

  Present a complete accounting practice set following the fundamental accounting cycle