CHAPTER 1

THE PROBLEM AND IT`S BACKGROUND

INTRODUCTION

“You have to know accounting .It`s the language of Practical business

in life. It was a very useful thing to deliver to civilization. I`ve heard it came to

civilization through Venice which of course was once the great commercial power

in the in the Mediterranean. However, double entry book keeping was a hell of

invention”. –Charlie Mungerln , In accounting ,for every basis , identification and

measurement of the elements of financial statement and the impact of the

circumstances and financial status and work results should be defined in a form of

standards. These standards are like the rules for accounting in any country. That

is why they denote what should be mentioned in any company`s accounts.

Moreover, they guarantee that certain cases, approaches and requirements are

taken into account normally. In addition, they help people who interested in

investment to make decisions by ensuring that they get appropriate information

needed. This is the idea behind accounting standards. Accounting is the gathering,

classifying and recording of business financial transactions. This process is

necessary in order to keep the business running smoothly. Accounting is the

language of business because the dialect of business is money. Accounting is the

organization of monetary information.

There are advantages and disadvantage of accounting as a Language

of business. Having said that accounting standard is the provider of the rules,

conditions and consistency, they may hold some pros and cons while they are

being implemented and taken in any company. Efficiency and effectiveness can be

gotten through consistency if different organizations apply them than other

organizations in their financial transaction. If we ask ourselves about the main

reason behind bookkeeping practices, the answer would be that companies with

different forms and wide range of data to be maintained are better than those

that have the same data categorized less in the same shape and will face a very

big problem in trying to do business together. Hence, the justice and court have

standard operations and businesses in fact, should denote all of its operation and

transaction. According to Elliot, (2009) companies should organize their operation

with standard clients, competitors, customer, and suppliers. If we want it issue

clear standards of financial accounting, we have to take into account the direction

of the economy to establish joint stock companies with large capital. It’s

necessary to expand the vision of accounting standards according to

communication and delivery of accounting information to lead to the need for

that information to let them asses the performance of businesses to make good

decisions with regards to their investment. Accounting standard are a very

significant practice as it leads to effective corporate governance programs. They

also provide useful mechanism to rebuild the corporate values.

STATEMENT OF THE PROBLEM

This study will be conducted to identify the advantages and

disadvantages of accounting as a business language with the end in view of

proposing an action on how useful accounting is in different business.

Specifically the study sought to answer the following question:

1.What is the profile of the respondents according to following variables:

1.1 Age

1.2 Sex

1.3 Civil status

2. To know if accounting is effective for business.

3. To convert accounting as disadvantage to advantages for business.

4. To determine the ways on how to create improvement in the business through

the help of accounting.

5. To know how the following subject affects the standing of the business:

5.1 Accounting subjects

5.2 Organization and management subject

5.3 Principles of marketing subject

6. To determine that the extent of accounting as a business language which is

applicable to all kinds of business.

6.1 Small businesses

6.2 Large businesses

CONCEPTUAL FRAMEWORK

This study talks about advantages and disadvantages of accounting

as a business language.

This conceptual Framework is used to emphasize the significance of

how accounting affects the standing of the business. Then how advantageous to

takes some subject’s that are related to business and to know if it is applicable to

all kind of businesses. It can measure how effective the accounting for a business.

The data will be gathered through the use of questionnaire and documentary

analysis.

In the first phase, the researcher identified the title of the research

work. In the second phase the researcher identified the subject in enhancing their

own business and to know the advantages and he disadvantages of accounting as

a business language.
The flow of the study is presented in the researcher paradigm in Figure 1.

Accounting

Advantages and
Disadvantages of
Accounting as a The subjects that affect the standing of the
business languages for business.
business in Lemery
Batangas

The subject s in enhancing their own

business

Figure 1

Research Paradigm
HYPOTHESES

These are no significant difference between the assessment of the

two groups of respondents regarding to the advantages and disadvantages of

accounting as a business language.

SIGNIFICANCE OF THE STUDY

The result of the study will be of great benefit to the following:

Students – The result will provide the student with some knowledge and idea on

how accounting will be effective for some business. It will give the students

realization that they need to take the following subjects that affect the standing

of the business. If they want to build a business someday at the end of this study

student could finally discover that accounting as a business language is applicable

to all lands of business. It is important for the students who are still deciding if

what course they want to take and it is advantageous if you are going to take

accountancy course so that it will enhance your skills when it comes to business.

Through this study it will give them an idea on how they solve the business

problem and deal with it.

Business men and women- The result of this research will give ideas on how to

make their business succeed. It will also provide ways in how to manage their

financial. Every business should have proper way of bookkeeping of the

transactions. This research can help them to make their capital grow. Accounting

is very helpful to know the condition of your business. To know if it is growing or

losing.

SCOPE AND DELIMINATION OF THE STUDY

This study was undertaken to know the advantage and disadvantages of

accounting as a business language for businesses in Lemery,Batangas in managing

their own businesses.

This study compile with the researchers started last September up to

October. Business men/women and managers in Lemery, Batangas are used as

the respondents of this research . This research also explain how helpful

accounting in making decisions to manage the business. It is stated here the

research paper about the students to improve their self-confidence in facing

business problem or their career as a business men/women.

DEFINITION OF TERMS

To facilitate reader´s clear understanding of this study. The researchers

included the following terminologies in order to conceptually and operationally

understand this study.

ACCOUNTING- The system of recording and summarizing business and financial

transaction and analyzing, verifying and reporting the result.

BOOKKEEPING- Recording the accounts or transactions of a business.

BUSINESS- The activity of making, buying, or selling goods or providing services in

exchange of money.

CIVILIZATION- the condition that exist when people have developed effective

ways of organizing a society and care about art, science, etc.

FINANCIAL- relating to money

LANGUAGE- the system of words or signs that people use to express thoughts

and feelings to each other.

MONEY- something used as a way to pay for goods and services and to pay

people for their work.

MONETARY- relating to the money in a country´s economy.

PRACTICAL- relating to what is real rather than to what is possible or imagined.

TRANSACTION- act or process of doing business with another person or

company.

CHAPTER II
REVIEW OF RELATED LITERATURE

FOREIGN

Accounting

Some people think of accounting as a highly technical field which is

practice and understood only by professional accountants. Actually, nearly

everyone practices “Accounting” in one form or another on almost a daily basis.

Accounting is an art of interpreting, measuring and communicating the results

of economic activities. Whether you are paying your phone bill, balancing your

n, you are working with accounting concepts and accounting information.

Checkbook, preparing your income tax returned, or managing an international

corporation.
 Accounting has often been called the language of business. Such terms as

assets, liabilities, net income, cash flow, and earnings for share are but a few

examples of technical accounting terms widely used throughout the business

world. Every investor, manager, and business decision maker need a clear

understanding of accounting terms and concepts if he or she is to participate

and communicate effectively in the business community. (Financial

Accounting:7)

Record keeping dates back to about 3600 B.C. and some accounting

concepts can be traced back to the early Greek and Roman periods. These very

early records and concepts are of interest, more record keeping adds little

insight into the development of accounting theory to the present. The concept

alone was not adequate to form a theory of accounting. The origin of “double-

entry” bookkeeping in the 14th century is an appropriate starting point of study

for the development of accounting thought and concepts.

The great size of business firms and the high speed and extreme

complexity of operations have increase the difficulty of specifying information

needed by the management, investors, creditors, and other person. Information

is often needed on a wide range of subjects… the number of employees and their
abilities the capacity of storage and areas, the number and specification of

production, equipment, the money needed for payment of services and goods.

Accounting has developed a partial response to this need to provide

information about financial aspects of the business. It also provides a non-

financial information, and probably should provide more, but the primary

function of accounting has been the supplying of financial information to all

who make a decision concerning its business operations. This financial

information presents about the results of the company’s activities or operations

of specific period. (Partnership and Corporation Accounting (Theory and

Problems):1&2)

Accounting is a process. A process is composed of multiple steps that lead

to a common end goal. The enrollment process in your school may involve

reservation of slots, filling out documents, attending school orientations, and

payment of necessary fees. These steps all lead to you being enrolled in your

school. Likewise, accounting is a process because it performs the functions of

identifying, recording, and communicating economic events with the end goal

of providing information to internal and external parties.

 Accounting is an art. Art refers to a way of performing something. It entails

creativity and skills to help us attain some objectives. Accounting is the art of

recording, classifying, summarizing, and finalizing financial data. Accounting is a

combination of techniques and its application requires applied skill and

expertise. This is the reason why accounting can be considered as an art.

Accounting deals with financial information and transactions. Accounting

deals only with quantifiable financial transactions. These are only events

identified by the accountant, recorded in the books, and communicated to

different parties. Non-financial transactions are not the focus of the accounting

process. However, non-financial data may be used to interpret and better

estimate some financial data.

Accounting is a means and not an end. As mentioned earlier, accounting is

a tool to achieve specific objectives. It is not the objective itself. Imagine that

you dream to go Paris someday. Accounting can be thought of as the plane that

will bring you to your destination.

Accounting is an information system. Accounting is recognized and

characterized as a storehouse of information. As a service function, it collects

processes and communicates financial information of any entity. This discipline

of knowledge has been evolved but to meet the need of financial information

required by different interested groups.

The American Accounting Association (AAA) defines accountings as “the process

of identifying, measuring, and communicating economic information to permit

informed judgements and decisions by the users of information.”

Meanwhile, the American Institute of Certified Public Accountants (AICPA)

defines accounting as “the art of recording, classifying, and summarizing in a

significant manner and in terms of money, transactions and events which are in

part at least of a financial character and interpreting the results thereof.”

(Fundamentals of Accountancy, Business, and Management,2016)

According to Robert Lovell, the life of a finance student is often a far cry

from the non-stop parties and skipped lectures you might expect. From the very

first year, accountancy students have a lot to juggle as they study their way to a

rewarding career. There are tips and challenges to consider before choosing a

degree in accountancy. Selecting the right industry, accountancy is a profession

that never lessens in demand, and trained professionals can work in almost any

field of business. At the London School of Business and Finance, we encourage

our students to undertake as much practical experience as possible, making

sure they don't confine themselves to an area with limited opportunities for

progression. Managing other people's riches… on a low budget, students are

very rarely blessed with a luxury budget, so the irony of learning to manage

large business incomes as you count your own pennies can be difficult for some

students to take. Many undergraduates take a gap year before embarking on an

accountancy course to make sure they have enough funds to live comfortably

while they study, leaving them free during term time to focus on getting that

great degree. Maintaining a healthy social life, University is a time for

socializing, meeting new people and learning more about yourself on the path

to adulthood. Accountancy studies can be very demanding and often cut into

time that would normally be spent relaxing or socializing with friends. We

encourage our students to try and work regular office hours as much as

possible, and we offer help through our counseling and student services

departments should the pressure ever get too much. Getting formal,

accountancy is a very computer-orientated career that doesn't necessarily

include a great deal of flexibility, and students can sometimes find it difficult to

adjust to such a formal lifestyle after graduation. Again, internships are a great

way to gain an insight into working practices before you're thrown in the deep

end. Competition for graduate jobs, as such a high-flying degree with a very
 clear employment goal, competition for graduate jobs can be stiff. We

encourage our students to use social media to network for opportunities; we

post any likely positions for our students on our own Twitter feed.

LOCAL

One of the respected professions in the Philippines is the

accountancy profession because of its prestige and good reputation imparted to

the public. A great number of the members of this of this noble profession

belong to the millennial generation (born between the early 1980s to early

2000s).Technology has always been part of millennial life. This is constantly being

applied to their respective chosen field of expertise. The attitudes and beliefs of

these young individuals greatly affect the growth of their respective

organizations.

Millennial are coming of age, they are entering the work force with a

work culture that is significantly different from the values that the previous

generations upheld. Based on the survey made by Philippine Statistic Authority,

almost 50 percent of the Philippine work force in 2015 is composed of millennial

from 15 to 34 years old, and by 2030 it will rise to 70 percent.

http://businessmirror.com.ph/the-millenial-filipino-cpas/

Accounting Profession The accounting profession refers to a body of

professionals on whom the government through the Professional Regulatory

Board of Accountancy has conferred the title of Certified Public Accountant

(CPA). The title is granted to the individual who passes

theCPA Licensure Board Examination. There are four major areas of professionala

ccountancy practice namely:1.Practice in public accountancy2.Practice in

commerce and industry3.Practice in government4.Practice

in education/academe

Practice in Public Accountancy

Accountants in public practice provide their services to the public. They may

provide these services as sole practitioners or as members of a partnership.

Public practice involves the following main areas: audit services, taxation

services, management consulting services as well as business recovery and

insolvency management.
Practice in Commerce and Industry

This shall constitute in a person involved in decision making requiring profession

alknowledge in the science of accounting, or when such employment or position

requires that the holder thereof must be a certified public accountant.

Practice in Education/Academe

This shall constitute in a person in an educational institution which involve

teaching of accounting, auditing, management advisory service, finance, business

law, taxation and other technically related subjects. “Fundamentals of

Accounting VOL1 2007”Pg 8-14

CHAPTER III

RESEARCH METHODOLOGY AND PROCEDURES

This chapter presents the research design, the respondents of the study,

research instrument, administration and retrieval of the instrument, scoring of

respondents and statistical treatment of the data.

RESEARCH DESIGN
 This study used the descriptive method of research. It was used in

this study since it involves collecting data to describe and appraise the status of

the study. It was used to describe the nature of the accounting as a language

business .According to Paler Cadmorin descriptive method focuses on the present

condition and aims to find new truth.

RESPONDENTS OF THE STUDY

In attempt to determine the advantages and disadvantages of

accounting as a business language were utilized by the business men or women.

The researchers involved 15 business men and women with a small store and 15

managers or big company owner in Lemery Batangas.

The profile of the business men or women-respondents was

presented in this selection as background information.

1. Profile of the business men or women-Respondents

Gender. Table 1 shows the distribution of the respondents in terms of gender:

Table 1
 Distribution of business men or women -Respondents by Gender

Frequency Percentage

Male 17 57

Female 13 43

Total 30 100

The table showed that 17 or 57 percent of the business men or

women -respondents are male and the remaining 13 or 43 percent are females.

Civil Status. Table 2 Illustrates the distribution of the respondents in terms of

civil status.

Table 2

Distribution of business men or women -Respondents by Civil Status

Frequency Percentage

Single 20 67

Married 10 33

Total 30 100
 The table indicated that 20 or 67 percent of business men or women

–respondents were single while the remaining 10 or 33 percent were married.

Age. Table 3 presents the distribution of the respondents by age:

Table 3

Distribution of business men or women -Respondents by Age

Frequency Percentage

40 years old and above 4 13

31-40 years old 5 17

21-30 years old 6 20

16-20 years old 15 50

Total 30 100

It can be seen on the table that 4 or 13 percent of the business men and

women respondents were 40 years old and above; 5 or 17 percent of them are in

between 31-40 years old; 6 or 20 percent are 21-30 years old; 15 or 50 percent

are in 16-20 years old, with the total of 30 or 100 percent.

RESEARCH INSTRUMENT

The researchers utilized the questionnaire checklist as the data gathering

instruments in this particular study. The instrument used was divided into two

parts. The first part deals with the personal profile of the respondents. The

second part deals with the advantages and disadvantages of accounting as a

business language for businesses in Lemery, Batangas.

PREPARATION AND VALIDATION OF THE INSTRUMENT

The readings of the researches from books, journal and particularly the

unpublished materials serve as the frame reference in constructing the

questionnaire from those, the first draft of the questionnaire was cooperatively

prepared by the members of the group and was presented to the adviser and for

corrections, comments and suggestions. Some of the items in the first draft were

deleted and all corrections, comments and suggestions were incorporated in the

second draft of the instrument. The researchers consulted too instructors of Rizal

College of Taal for the validation of the questionnaire. The final draft was

prepared and multiplied according to the number of respondents.

DATA GATHERING PROCEDURES

The respondents personally gave a letter of request to the school principal,

and English department head of the school understudy. After the request was

granted, the researchers personally administered the questionnaire to the

respondents. After a week the questionnaires were retrieved.

SCORING OF RESPONSES

After the retrieval of the questionnaire, the data were collected and

tabulated. The following scales were utilized in the analysis and interpretation of

the data.

Weight Range Verbal Interpretation

4 3.50-4.49 Great extent

3 2.50-3.49 Moderate extent

2 1.50-2.49 Less extent

1 1.00-1.49 No extent
STATISTICAL TREATMENT OF DATA

The following statistical tools were utilized to statistically treat the gathered

data for analysis and interpretation and give meaning and implications.

Percentage- This was used as a descriptive measure especially in showing the

relationship between two or more magnitudes using the formula

𝑓
x 100
𝑛

Where:

p= percentage

f= frequency

n= total number of respondents

Ranking- this is another descriptive measure used to described numerical data in

addition to percentage. Ranking was employed for cooperative purposes and

showing the positional importance of items being analyzed.

Weighted Mean- this was employed to determine the responses of the

questionnaire was used and the weighted points were assigned for quantitative

analysis the formula used was.

 Ʃ fx
X=
n
Where:

X= Weighted mean

Ʃ= Summation of

x= Weight each point

Ʃ fx= Sum of the product of the frequencies and weight point each option

n= Total number of respondents

CHAPTER IV

PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

This chapter presents the analysis and interpretation of data gathered from

respondents through the questionnaire used in the study.

1. Accounting is effective for a business

Table 4

Indicator WM VI Rank
a. Accounting is the gathering, classifying and recording of 3.67 GE 1

business financial transactions.

b. Accounting is the language of business because the dialect 3.5 ME 5

of business is money.

c. Accounting is the organization of monetary information. 3.3 ME 9

d. Accounting data is use to produce financial statement. 3.63 GE 4

e. Accounting is the language of business in tallies the result 3.37 ME 7

in terms of owner equity.

f. Accounting data can be used to determine whether a 3.67 GE 1

company is making efficient use of its resources.

g. Accounting can be helpful in making decisions on how to 3.67 GE 1

manage the business.

h. Accounting provides information for external entitles such 3.23 ME 10

as tax agencies and investors and for internal purposes such

as evaluating efficiency and profitability.

I .Designed to help in the management and control of topics 3.37 ME 7

related to organizations economic financial area.

j. Uses to record and analyze financial transactions 3.4 ME 6

 Average weighted mean 3.38 GE

It can be gleaned from the table that respondents believe that accounting is

the gathering, classifying and recording of business financial transactions with

weighted mean 3.67 classified as great extent. Accounting is the language of

business because the dialect of business is money got 3.5 weighted mean and

have moderate extent. Accounting is the organization of monetary information

got 3.33 weighted mean and it`s moderate extent. Accounting data is use to

produce financial statement have 3.63 weighted mean and considered as great

extent. Accounting is the language of business in tallies the result in terms of

owner equity got 3.37 weighted mean and defined as moderate extent.

Accounting data can be used to determine whether a company is making efficient

use of its resources classified as great extent with 3.67 weighted mean.

Accounting can be helpful in making decisions on how to manage the business got

the same weighted mean from the previous question. Accounting provides

information for external entitles such as tax agencies and investors and for

internal purposes such as evaluating efficiency and profitability got 3.23 weighted

mean and categorized as moderate extent. Respondents believe that accounting

is designed to help in the management and control of topics related to

organizations economic financial area and it has 3.37 weighted mean with

moderate extent. They also agreed that accounting uses to record and analyze

financial transactions and it got 3.4 weighted mean and categorized as moderate

extent.

2. Converting Accounting as disadvantage to advantage for businesses

2.1 Advantages

Table 5

Indicator WM VI Rank
a.Using accounting standards involves the ease of 3.57 ME 3
understanding the financial statements.
b. the owners can interpret the financial statements of 3.6 GE 2
different companies/business using the same assumptions.
c.They provide guidance for accountants. 3.9 GE 1
d.When financial reporting issues arise the accountant may 3.3 ME 8
refer to the published accounting standard to determine how
to record the event.
e. Accounting transactions arising from technology such as 3.37 ME 6
internet sales or new actions incorporated by the company.
Average weighted mean 3.55 GE
 We can see on the table that using accounting standards involves the ease

of understanding the financial statements that got 3.57 weighted mean and is a

moderate extent. The owners can interpret the financial statements of different

companies/business using the same assumptions according to respondents that

got 3.6 weighted mean with great extent. They believe that it provide guidance

for accountants that got 3.9 weighted mean and classified as great extent. They

also agreed that when financial reporting issues arise the accountant may refer to

the published accounting standard to determine how to record the event that

considered as moderate extent according to the weighted mean which is 3.3.

They believe that accounting transactions arising from technology such as

internet sales or new actions incorporated by the company which have 3.37

weighted mean and considered as moderate extent.

2.2 Disadvantages

Table 6

Indicator WM VI Rank
a. Using accounting standards involves the inflexible 3.57 GE 3
framework the accountant most comply with.
b. Accounting standards considers the costs for the company 3.4 ME 5
to comply with the standard.
 c. In many cases, the company must design new procedure, 3.3 ME 8
which requires a large financial investment that includes
employee labor costs, system upgrades and employee
training.
d. They can be inflexible. 3.23 ME 10
e. Compliance can be castly. 3.33 ME 7
Average weighted mean 3.56 GE

We can see that Using accounting standards involves the inflexible

framework the accountant most comply with got 3.57 weighted mean and it is

great extent. They believe that accounting standards considers the costs for the

company to comply with the standard got 3.4 weighted mean and it is considered

as moderate extent. In many cases, the company must design new procedure,

which requires a large financial investment that includes employee labor costs,

system upgrades and employee training got 3.3 weighted mean and it is

considered as moderate extent . They can be inflexible got 3.23 weighted mean

and considered and it is considered as moderate extent and Compliance can be

castly got 3.33 and considered as moderate extent.

3. The ways on how to create improvement in business with the help of

accounting.
 Table 7

Indicator WM VI Rank
a. If you lack the financial skills hire an accountant but still 3.7 GE 1
on the loop.
b.Set goals and use them as an ongoing planning tool 3.63 GE 3
ensure you continue to move forward in your small
business.
c. Learn how to use low budget high-impact marketing to 3.47 ME 6
improve your small business.
d. Start by learning the essentials of a memorable business 3.43 ME 8
presentation.
e. Stay current on trends and issues happening in your 3.56 GE 4
industry and local community.
f. You must focus on sales improvement. 3.37 ME 9
g. Learn what motivates your employees to higher levels of 3.67 GE 2
performance.
h. Know your entrepreneurial personality type so you can 3.5 GE 5
manage your resources and find help in areas of weakness.
i. If it’s your passion you have to be motivated to create 3.23 ME 10
improvement to your business.
J .Reignite your passion and take a vacation. 3.47 ME 6
Average weighted mean 3.5 GE
 We can see on the table that If you lack the financial skills hire an

accountant but still on the loop can help improvement in business with the

help of accounting with 3.7 weighted mean and considered as great extent,

Set goals and use them as an ongoing planning tool ensure you continue to

move forward in your small business got 3.63 weighted mean and

considered as great extent, Learn how to use low budget high-impact

marketing to improve your small business got 3.47 weighted mean and

considered as moderate extent, Start by learning the essentials of a

memorable business presentation got 3.43 weighted mean and considered

as moderate extent, Stay current on trends and issues happening in your

industry and local community got 3.56 weighted mean and considered as

great extent, You must focus on sales improvement got 3.37 weighted

mean and considered as moderate extent , Learn what motivates your

employees to higher levels of performance got 3.67 weighted mean and

considered as great extent , Know your entrepreneurial personality type so

you can manage your resources and find help in areas of weakness got 3.5

weighted mean and considered as great extent, If it’s your passion you have

to be motivated to create improvement to your business got 3.23 weighted

 mean and considered as moderate extent and lastly reignite your passion

and take a vacation got 3.37 and considered as moderate extent.

4. The subjects that affect the standing of the business

Table 8
4.1 Accounting subject

Indicator WM VI Rank

a. It can use to reach decisions about how to manage the 3.73 GE 1

business, or invest in it, or lend money to it.

b. Provides the basis of management decisions and 3.57 GE 3

accountability through the process of recording, summarizing

and presenting historical and prospective information.

c. Provides a basis for analysis of the performance over a period 3.43 ME 8

of time which promotes accountability across several tiers of an

organization.

Average weighted mean 3.58 GE

We can see on the table that one of the subject that affect the standing of the

business is accounting It can use to reach decisions about how to manage the
 business, or invest in it, or lend money to it got 3.73 weighted mean and

considered as great extent, Provides the basis of management decisions and

accountability through the process of recording, summarizing and presenting

historical and prospective information got 3.57 weighted mean and considered as

great extent and lastly it provides a basis for analysis of the performance over a

period of time which promotes accountability across several tiers of an

organization got 3.43 weighted mean and considered as moderate extent.

4.2 Organization and Management subjects

Table 9

Indicator WM VI Rank

a.Direct and coordinates the efforts of the people to accomplish 3.57 GE 3

goals and objectives by using available resources efficiently and

effectively.

b. Unifies employees and helps them understand the 3.5 ME 5

organization’s direction.

c. Explain the efficiencies created by specialization and the 3.47 ME 6

division of labor and describe characteristics of organizational

structures.
Average weighted mean 3.51 GE

We can see on the table that one of the subject that affect the standing of

the business is Organization and Management that it direct and coordinates the

efforts of the people to accomplish goals and objectives by using available

resources efficiently and effectively got 3.57 weighted mean and consider as great

extent, unifies employees and helps them understand the organization’s direction

got 3.5 weighted mean and considered as moderate extent and lastly it explain

the efficiencies created by specialization and the division of labor and describe

characteristics of organizational structures got 3.47 weighted mean and

considered as moderate mean.

4.3 Principles of Marketing subject

Table 10

Indicator WM VI Rank

a .Promotes a business and what it offers. 3.6 ME 2

b. Convincing customers that the product and services you 3.43 ME 8

offer meet their needs and are compelling enough to

purchase.

c. Determine what you customer’s want how you can provide 3.4 ME 10

it, how to let them know about it and where to make it

available for purchase.

Average weighted mean 3.48 ME

We can see on the table that one of the subject that affect the standing of

the business is Principles of Marketing that it promotes a business and what it

offers got 3.6 weighted mean and considered as moderate extent, Convincing

customers that the product and services you offer meet their needs and are

compelling enough to purchase got 3.43 weighted mean and considered as

moderate extent and lastly it determine what you customer’s want how you can

provide it, how to let them know about it and where to make it available for

purchase got 3.4 weighted mean and considered as moderate extent.

5. Kind of businesses that is suitable for accounting as business language.

Table 11

5.1 Small business

Indicator WM VI Rank
a.Closely monitoring your accounts receivable to illustrate 3.7 ME 2

trends or behavior in your customer base, it cost also cut

down on the costs you incure by pursuing late payers.

b.Establishing a detailed budget to help discover 2.3 LE 10

inefficiencies within your operations.

c.Sudden changes in vendors costs of sales revenues can alert 3.77 ME 1

you to important industry changes.

d.Understanding your financial position in order to spot 3.6 ME 3

problems areas that could interfere with loans earmarked for

expansion.

e.Managing credits and debits. 3.53 GE 5

Average weighted mean 3.38 ME

We can see on the table that small businesses is suitable for accounting as

business language and it explain that it is Closely monitoring your accounts

receivable to illustrate trends or behavior in your customer base, it cost also cut

down on the costs you incure by pursuing late payers got 3.7 weighted mean and

considered as moderate extent, establishing a detailed budget to help discover

inefficiencies within your operations got 2.3 weighted mean and considered as
 less extent, sudden changes in vendors costs of sales revenues can alert you to

important industry changes got 3.77 weighted mean and considered as moderate

extent, understanding your financial position in order to spot problems areas that

could interfere with loans earmarked for expansion got 3.6 weighted mean and

considered as great extent and lastly managing credits and debits got 3.53

weighted mean and considered as great extent.

5.2 Large business

Table 12

Indicator WM VI Rank

a.Purchasing economies when large business often receive a 3.63 GE 2

discount because they are buying in bulk.

b. Marketing economies from spreading the fixed cost 3.4 ME 8

promotion over a larger level of output.

c.Research and development economies from spreading the 3.5 ME 5

fixed of developing new or improve products over a larger

level of output.

d.Able to keep a full in house staff to handle professional 3.27 ME 10

services like accounting and legal matters, whereas this isn’t

always the most sensible approach for a small business.

e. In big businesses is the clout that comes with having a 3.43 ME 7

large amount of market share and doing a high volume of

business.

Average weighted mean 3.45 ME

We can see on the table that large businesses is suitable for accounting as a

language of business who tells that purchasing economies when large business

often receive a discount because they are buying in bulk got 3.63 weighted mean

and considered as great extent, marketing economies from spreading the fixed

cost promotion over a larger level of output got 3.4 weighted mean and

considered as moderate extent, research and development economies from

spreading the fixed of developing new or improve products over a larger level of

output got 3.5 weighted mean and considered as moderate extent, able to keep a

full in house staff to handle professional services like accounting and legal

matters, whereas this isn’t always the most sensible approach for a small business

got 3.27 weighted mean and considered as moderate extent and lastly In big

businesses is the clout that comes with having a large amount of market share
and doing a high volume of business got 3.43 weighted mean and considered as

moderate extent.

CHAPTER V

SUMMARY,CONCLUSIONS AND RECOMMENDATIONS

Summary

This study was conducted to find out the advantages and disadvantages of

accounting as a business language for businesses at Lemery, Batangas.

Specifically, the study sought to answer the following questions:

1. To know if accounting is effective for business.

2. To convert accounting as disadvantage to advantages for business.

3. To determine the ways on how to create improvement in the business

through the help of accounting.

4. To know how the following subject affects the standing of the business:

4.1 Accounting subjects

4.2 Organization and management subject

4.3 Principles of marketing subject

 5. To determine that the extent of accounting as a business language
which is applicable to all kinds of business.

6.1 Small businesses

6.2 Large businesses

Respondents and procedures

This study utilized the descriptive method of research with questionnaire as the

main instrument in gathering data. The respondents of the study were thirty

business men\women in Lemery Batangas manipulating a businesses its either

short or big.

Findings

Based from the data gathered in the study, the following were most significant

findings.

1. Problem encountered in knowing how effective accounting in the business.

The data revealed that why accounting is the most effective to use in a

business by business men\women to a great extent as manifested by the

 average weighted mean of 3.67 because accounting is the gathering,

classifying and recording of business financial transactions and acccounting

data can be used to determine whether a company is making efficient use

of its resources. Accounting can be helpful in making decisions on how to

manage the business. Accounting is the organization of monetary

information the least weighted mean of 3.3. The average weighted mean is

3.38 and was employed tp moderate extent.

2.Problem encountered on how to convert accounting as disadvantage to

advantages for business.

2.1Avantages of accounting

The average weighted mean of 3.57 revealed that Using accounting

standards involves the ease of understanding the financial statements. the

respondents disclosed that when financial reporting issues arise the

accountant may refer to the published accounting standard to determine

how to record the event garnering the least weighted mean of 3.3 . The

average weighted mean is 3.55 and was employed tp great extent.

2.2Disadvantages of accounting
 As evinced by the average weighted mean of 3.4 accounting standards

considers the costs for the company to comply with the standard. Using

accounting standards involves the inflexible framework the accountant

most comply with garnered the highest weighted mean of 3.57 and

on other hand They can be inflexible got the lowest weighted mean of

3.23. The average weighted mean is 3.56 and was employed tp great

extent.

3.Problem encountered to create improvement in the business throught the

help of accounting.

As manifested by the average weighted mean of 3.7 If you lack the financial skills

hire an accountant but still on the loop to a great extent. Learn what motivates

your employees to higher levels of performance garnered 3.67.Further,the

indicator got the least weighted mean was If it’s your passion you have to be

motivated to create improvement to your business got 2.23. The average

weighted mean is 3.5 and was employed tp great extent.

4. lnformation on how the following subject affects the standing of the

business.

4.1 Accounting subjects

As revealed by the average weighted mean of 3.73 respondents encountered that

It can use to reach decisions about how to manage the business, or invest in it, or

lend money to it.The indicator which garnered the least weighted mean was

provides a basis for analysis of the performance over a period of time which

promotes accountability across several tiers of an organization with 3.43

weighted mean. The average weighted mean is 3.58 and was employed great

extent.

4.2 Organization and Management subjects

The average weighted mean of 3.43 revealed that Convincing customers that the

product and services you offer meet their needs and are compelling enough to

purchase employed to moderate extent. first in the rank was the direct and

coordinates the efforts of the people to accomplish goals and objectives by using

available resources efficiently and effectively offers got 3.57 weighted mean. On

the other hand ,the solution employed less was . Explain the efficiencies created

by specialization and the division of labour and describe characteristics of

organizational structures got 3.47 weighted mean. The average weighted mean is

3.51 and was employed tp great extent.

4.3 Principles of marketing subject

It is effective subject to use were employed to a moderate extent convincing

customers that the product and services you offer meet their needs and are

compelling enough to purchase with weighted mean of 3.43. The indicator which

ranked first and was employed to moderate extent was promotes a business and

what it offers as manifested by the weighted mean of 3.6 .on the other hand,

determine what you customer’s want how you can provide it, how to let them

know about it and where to make it available for purchase garnered the lowest

weighted mean of 3.4. The average weighted mean is 3.48 and was employed tp

moderate extent.

5. Suggested solution to the extent of accounting as a business language which

is applicable to all kinds of business.

5.1 For Small businesses

The average weighted mean of 3.7 revealed that closely monitoring your accounts

receivable to illustrate trends or behavior in your customer base, it cost also cut

down on the costs you incure by pursuing late payers employed to moderate

extent. Top most in the rank was sudden changes in vendors costs of sales

revenues can alert you to important industry changes ,as evidenced by the

weighted mean of 3.77. Among the indicators, establishing a detailed budget to

help discover inefficiencies within your operations garnered the lowest weighted

mean of 2.3. The average weighted mean is 3.38 and was employed tp moderate

extent.

5.2 For large businesses

It was revealed by the average weighted mean of 3.5 that research and

development economies from spreading the fixed of developing new or improve

products over a larger level of output employed to moderate extent. Purchasing

economies when large business often receive a discount because they are buying

in bulk ranked first with the weighted mean 3.63. On the other hand, able to

keep a full in house staff to handle professional services like accounting and legal

matters, whereas this isn’t always the most sensible approach for a small business

garnered the weighted mean of 3.27 and ranked last among the indicators. The

average weighted mean is 3.45 and was employed tp moderate extent.

Conclusions

Based from the data gathered, the following conclusion were drawn:

1. In over all information given by this study it explain that accounting is a

language of business because the dialect of business is money.

2. Whether you take college or not if you have the ability in doing your business,

hard work and patience you become successful in life.

3. In accounting you can convert disadvantage to advantages for business.

Accounting is known as the language of business and as such it benefits

management in many ways. Advantage of accounting information over other

types of information is that it is based on numbers, measurable data. Accounting

is advantageous for those who already take or taking BSA(Bachelor of Science and

Accountancy),BSBA (Bachelor of Science and Business Administration) and for

senior high school students who are taking ABM (Accountancy, Business and

Management) it helps them to gain more knowledge in building their own

businesses whether it is small or big. It will provide information about financial

position and more that will affect and to know the standing of the business.

Accounting can be serve disadvantage those who wouldn’t take college degree

because they don’t have enough knowledge to use accounting in their businesses,

but for them this is not a hindrance to create a business because we different

strategies in life even in a particular business .Everything happens based on to the

decision you’ve made and if you believe in yourself. Most strategic thinking and

planning sessions are an attempt to improve or increase certain activities. If

you’re planning a new product launch ago work, or talking about an upcoming

vacation with your partner, you’re “creating” a strategy. However, without careful

planning and consideration, strategic thinking sessions can often up having very

little effect on individuals’ performance; or worse, they can de-motivate certain

people who now think there is even MORE to do, when they didn’t have enough

time before. Just like Miyamoto Musashi, legendary Japanese swordsman said that

“Perception is strong and sight weak. In strategy it is important to see distant

things as if they were close and to take a distanced view of close things”.

Recommendations

1. Think big.

2. Find what you love to do and do it.

3. Learn how to balance life.

4. Do not be afraid of failure.

5. Have an unwavering resolution to succeed.

6. Always think positive especially when it comes to business.

7. To be successful in business you need to be organized. Organization will

help you complete tasks and stay on top of things to be done.

8. Always be looking for ways to improve your business and to make it stand

out from the competition.

9. You have to consistently keep doing what is necessary to be successful day

in and day out. This will create long-term positive habits that will help you

make money in the long run.

10.Take the risk, believe in yourself and have faith.