ABM? What is it all about?

To inform you about the specialization I’m taking, I’ll take you to it.

Accountancy is the recording, posting, classifying and preparation of financial statement of the business.

NATURE:

♦ It is a process that begins with transaction which is also called as the opening of a book and ends with closing of the book, interpreting. Because the process of accounting is being repeated, it is also called as accounting cycle.

accounting_process — This is the Accounting cycle

After collecting the transactions in journal, you need to transfer it to ledger. It is the process called posting.

Next is in trial balance where you must gather all the transactions together.

If there is an adjusment in the problem, You’ll need to think of the account title to adjust.

Once they are already adjusted, It is now called the Adjusted trial balance or the complete process in collecting titles and computing for its balance.

There is a financial statement that must be presented which identifies the financial status of the business.The post closing trial balance is a list of all accounts and their balances after the closing entries have been journalized and posted to the ledger. In other words, thepost closing trial balance is a list of accounts or permanent accounts that still have balances after theclosing entries have been made (c).

This is the accounting process. Hard to see at first and much difficult if already encountered.

My History of choosing ‘ABM’ track

You may think of the following stories below that it’s too exaggerated or what, but believe me or not, I think I was meant to be in the track I’m currently in.

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When I was Grade 7, we had a career path program where students must choose their desired track and dress an outfit or attire according to what they have chosen.

download (3) attire (1).jpg

I was really not certain with the career I will take in the future or should I say, the track I’m going to pick for Senior High school. So what I did, I just picked what was on my dresser and found the skirt and long sleeves just like the above photo. I asked my cousin what track fits on my attire, she suddenly said that I can be an accountant for that day since I have no outfit for stewardess which I kinda desired aside from being a teacher. I honestly didn’t have any idea about accountancy.

When I was in Grade 8, I have a cousin

When I was Grade 8, I have a cousin who often asked me favor to help her with her assignments and projects. She was in college but she, a little bit, lack confidence when it comes to English grammar and even in mathematics. I used to help her by correcting her grammar in her written works or by simply helping her to construct a sensible sentence.

One day, she asked me for help about accountancy. I have no choice but to help her even though I completely had no idea about it. She introduced me first with Debit and Credit and I was confused while she was explaining its difference.

This is all I could say. “OKAY’ with a QUESTION MARK.

I could remember things she said such as “TRANSACTION”, “MONEY” and “DEBT” , all that. I love money so I enjoyed cooperating with her, creating different Account titles in which I had no idea of what they mean, according to the problem given. I didn’t left my chair for almost 3 hours because of enjoyment. In that day, I started to love accountancy without so much knowledge. Anyway, I really took CHS or ICT in Grade 8 since my recent school in province doesn’t offer ABM track/specialization.

When I turned Grade 9, I took cookery or Food and Beverages which I also love(food). That time, we already moved in Pasay North. At first, I enjoyed that track but suddenly thought that it really was not for me.

I don’t know why. I just found out that I had no certain path to take when I turn to Senior High or college. One of my teachers questioned about the specific track we are sure to take. All I could always tell was I’m not yet sure about my decision.

I and my mother were sometimes talking about my future. She told me that I can be a stewardess but I have to take care of my physical body since it’s what matters most in that job. I was excited when she told me that I could earn a lot in it. Remember, I really love money but not spending them. I couldn’t see myself as an stewardess that time so I know to myself that I have to know for myself what I want to be in the future.

Grade 10 came and I, again, took Cookery. PCNHS just offered Electricity, Dressmaking, Welding, etc. aside from what I took. In the first 10 days, we just had lessons in cookery about different types of food we were going to make. Though I love food much, I wasn’t fond of baking or making meals(just love eating.lol).

Suddenly the Senior High Department head informed us that the school already had an ABM track so he asked who were going to move in that track. I yelled in surprise because finally, I was reminded of the track I desired the most.

That was when I decided to be in Accountancy Business Management Track. Currently, I’m still in it and I badly hope that this will be my future job as well.

Accountancy and Business Management=Balance

As an ABM student, the first thing that must always come to your mind is the word “BALANCE”. Do you often hear this word? You’ll know why it is a famous and unforgettable word for us if you keep reading this.

I became an ABM student when I was in Grade 10. At first, I was impressed by my teacher’s introduction of what we were going to tackle for the whole year (it covers basic accounting). I thought it was just some kind of a a logic since you have to analyze a problem or situation before solving it.

When 2nd Quarter came, I slowly realize that it is not a “PIECE OF CAKE” which I thought at first.

My teacher in Grade 10 as well as in Grade 11 always tell the word balance which become the remarkable word for us. If your output such as the balancing of the transactions given in the problem is not balanced even if the balances in the opposite side just differs in small amount, it is not accepted in the accounting principles.

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In picture above, I’m from section 11-charity(ABM track), we are more or less 20 in the room. Unbelievable right? There I am with my fellow classmates in charity holding our trophy for victory. It is when we won the competition here at our school against other tracks. That was very unexpected since some of my classmates don’t have an interest about these things. Maybe because we are all just meant to balance money in our business.

I’m so glad that time and at the same time relieved that we won since a lot of our teachers expects us something(e. g. we are academic track so we should win everything against other tracks.)

That’s what I mean. Being in ABM track does’nt mean that all you have to do is to use

your brain. You, of course, have to make effort in other things such as the programs and tasks the other teachers assigned to you.

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Anyway, when I was grade 10, you can see that we were less than 50 in the class. But I was shocked when I found out that many of my classmates shifted into another tracks, mostly Food and Beverages (FBS).

I asked them, “why?”. Commonly, their answer was “I don’t wanna be an ABM student anymore.”

I was confused. But the reality hits me when we started to tackle Business Math in accordence to accounting. I, now, realize that it was just a basic accounting but this year, we have to get used in analysing the higher lever concepts in accountancy.

Aside from fiancial statement, balances and transactions, time and effort must be balance too.

In order to fulfill your obligations in school, you must not focus only on your study, time alloted in your home is necessary too. That’s what I find difficult to manage. Bu

For me, the application of accountancy in my life is not just the money or financial title balances, it also applies in life as astudent and a daughter at the same time.