Accountancy and Business Management

What is ABM all about?

      Let's start with a brief description about our track.  ABM has three specializations.  These are Accounting, Business, and Management.

     

What do those words mean?
     Accounting is the measurement, processing, and communication of financial information about economic entities.  In other words, there is math here.  But don't worry, you will only be using the four basic operations!  No Algebra, Geometry, Trigonometry, or any other math subject you can think of.Next we have Business.  Business is an organization or enterprising entity engaged in commercial, industrial, or professional activities.  This is one of the most popular courses.  You will be able to learn how to run your own business and communicate with different types of people.Last but not the least, we have Management.  Management is the coordination of the activities of a business in order to achieve defined objectives.  Your leadership skills are being developed in this specific area.  You will also be practicing your communication skills here.

So... why should I take this track?
     You don't know what you're missing!  You will be able to have the opportunity to try running your own business.  Who knows, you could actually be the next Steve Jobs.  You will be able to practice proper time management.  Time management is very important most especially when you get to Senior High with all the workload you will be given by then.  Choose wisely!

Skills
     In this track, there will be skills that you will be able to develop and practice.  These skills are very applicable to almost any career and you will be surprised of the great benefits it will give you.

Communication Skills
     You will be learning how to communicate with different kinds of people.  You can't always stay in one corner and be quiet.  Running a business involves communication, but don't worry no one's going to scare you.  You're eventually going to speak up because people will be coming to you back and forth.

Finance Skills
     Accounting is part of this track.  As previously said in our last post, accounting has math, but it's basically addition, subtraction, multiplication, and division.  Through this, you will understand how money really works and probably be able to know how to use it wisely by then.

Collaboration Skills
     You're not going to be alone when you have your own business.  There will be people who will be willing to help you.  You also need to know how to communicate with your co-workers and give them motivation because they're the ones who are going to be with you in your company.  You'll also be able to develop your negotiation skills as this is one of the most important skills when you have a career.

Analytical Skills
     You need to know how to use your common sense.  When you get to the real world, there may be scams out there and you might not be noticing it.  In this track, you will be able to practice this skill because this is also related to your finance skills.

Time Management
     This is one of the greatest skills you can have, most especially once you get to Senior High School. You need to know how to budget your time so that everything will be simpler.  All tracks will be experiencing heavy workloads, but maybe not so much for ABM because you will be able to practice this skill when you get to this track.

What is Accounting?
       Accounting is the recording of financial transactions plus storing, sorting, retrieving, summarizing, and presenting the information in various reports and analyses. Accounting is also a profession consisting of individuals having the formal education to carry out these tasks.One part of accounting focuses on presenting the information in the form of general-purpose financial statements (balance sheet, income statement, etc.) to people outside of the company. These external reports must be prepared in accordance with generally accepted accounting principles often referred to as GAAP or US GAAP. This part of accounting is referred to as financial accounting.Accounting also entails providing a company's management with the information it needs to keep the business financially healthy. These analyses and reports are not distributed outside of the company. Some of the information will originate from the recorded transactions but some of the information will be estimates and projections based on various assumptions. Three examples of internal analyses and reports are budgets, standards for controlling operations, and estimating selling prices for quoting new jobs. This area of accounting is known as management accounting.Another part of accounting involves compliance with government regulations pertaining to income tax reporting.Today much of the recording, storing, and sorting aspects of accounting have been automated as a result of the advances in computer technology.

What is Business Management?
       Management in all business areas and organizational activities are the acts of getting people together to accomplish desired goals and objectives efficiently and effectively.

Course overview
       This is a flexible course allowing you to study the fundamentals of accounting and business management with the option to then focus more deeply in either field. This course will prepare you for a career in management accountancy, management consultancy and business management.If you choose to specialise in business management, you'll graduate ready for a business career with accountancy skills alongside. Over 50% of FTSE 100 CEOs are business leaders with a finance background such as this. You’ll study financial and management accounting alongside the legal, business, and organisational contexts within which they operate. You’ll then deepen your business knowledge with options to study HR, international business, entrepreneurship, marketing and more.If you choose to specialise in accountancy, you can graduate as a 'part qualified' accountant but with a deep appreciation of its wider business context. You will study in line with professional practice requirements and so maximise the number of accreditations and exemptions you will have upon graduation. Your degree will be accredited with the Institute of Chartered Accountants England and Wales (ICAEW), the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA) and the Association of International Accountants (AIA).As with business, you’ll study financial and management accounting alongside the legal, business, and organisational contexts within which they work. You’ll then deepen your accounting knowledge with study options, including taxation, auditing, strategy, and contemporary issues such as social & environmental.All students will have the chance to work on a finance or business project and enter the CIMA Global Business Challenge and compete with undergraduates around the world.You’ll also follow your own business engagement programme which will give you first hand participation in live accounting or business environments. We call this 'Make it' and it is unique to the University of Gloucestershire.

Tutorial Videos about this course that will give learning and information.

https://m.youtube.com/watch?v=9EBlLBenBfw

https://m.youtube.com/playlist?list=PLC-5gpz1gnJDuxTSNse6FslFv0IE6LsHr

https://m.youtube.com/watch?v=yt5GtQxEaRM


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