UNIT 1?THE WORLD OF ACCOUNTING 1 LESSON 1?ACCOUNTING AND ITS ENVIRONMENT 2 LESSON 2?ACCOUNTING CONCEPTUAL FRAMEWORK 11 LESSON 3?ACCOUNTING ELEMENTS, EQUATION AND DOUBLE ENTRY BOOKKEEPING 19 LESSON 4?ACCOUNTING CYCLE 25 PROJECT 1 39 UNIT 2?ACCOUNTING FOR SERVICE BUSINESS 41 LESSON 1?SERVICE BUSINESS AND ITS ACCOUNTING CYCLE 42 LESSON 2?ACCOUNTING FOR SERVICING BUSINESS 47 PROJECT 2 58 UNIT 3?ACCOUNTING FOR MERCHANDISING BUSINESS 71 LESSON 1?MERCHANDISING BUSINESS AND ITS OPERATING CYCLE 72 LESSON 2?RECORD PURCHASE TRANSACTIONS FOR MERCHANDISING BUSINESS 76 LESSON 3?RECORD SALES TRANSACTIONS FOR MERCHANDISING BUSINESS 82 PROJECT 3 87 UNIT 4?ACCOUNTING FOR MANUFACTURING BUSINESS 93 LESSON 1?MANUFACTURING BUSINESS AND ITS OPERATING CYCLE 94 LESSON 2?ANALYZE THE “COST OF GOODS MANUFACTURED” 102 LESSON 3?RECORD TRANSACTIONS FOR MANUFACTURING BUSINESS 108 PROJECT 4 114 UNIT 5?FINANCIAL STATEMENTS 117 LESSON 1?FINANCIAL STATEMENTS 118 LESSON 2?BALANCE SHEET 121 LESSON 3?INCOME STATEMENT 128 LESSON 4?CASH FLOW STATEMENT 133 PROJECT 5 139 TEXT TRANSLATIONS AND ANSWERS 142 UNIT 1 142 UNIT 2 155 UNIT 3 168 UNIT 4 176 UNIT 5 184 APPENDIX 193 REFERENCES 195