Activity 5: Advancing Capability and Potential of Knowing Business and

Accounting Practice.

What to do?

1. Identify at least one business in your community/locality (single/sole

proprietorship business).

2. Ask the following questions to the owner:

a. Since when did you start your business?

b. Do you have an accounting practice in your business?

c. Do you maintain a book of accounts in your business?

d. Is your reporting period, monthly, quarterly, semi-annual, or annually?

3. Ask the owner (if you may be allowed), their initial (beginning) capital,

additional investment (if any), income, and withdrawals (if any).

4. Make a summary and discussion report of your interview and prepare the

Statement of Changes in Equity given the data that you need.

Rubrics in Rating Activity 7

5 4 3 2 1

Category Scoring Data VGE GE SE LE N

Organization Ideas were logically arrange

Appropriate organization as pattern

was observed

Content Content was relevant

Purpose was well defined

Preparation/

presentation

of report

Presentation of report was proper

and organized

Legend: VGE – To a very great extent LE – To a little extent

GE – To a great extent N – Not at all

SE – To some Extent​