QUARTER 1

Week 1
Reading and Writing Numbers
Periods – divided Hindu-Arabic numerals (separated
by commas)
Important Features of Decimal System
1. Principle of addition is used.
2. Principle of multiplication is used.
3. Principle of place values is used. Value of a digit is ten times the place value of the digit after it.
4. Use of zero as placeholder.

Rounding Off Numbers

 If digit is 4 & below – retain digit and replace next digit to the right with zero (0)
 If digit is 5 to 9 – add 1 to the digit and replace next digit to the right with zero (0)

Addition
 Commutative Principle – when adding two numbers, the order in which to add them does not
affect sum
 Associative Principle – when there are 3 or more numbers, the way they are grouped does not
affect sum
 Identity Number – adding zero (0) to a number does not change number

Subtraction
 We subtract the subtrahend from the minuend

Multiplication
 Fast way of adding

Principles of Multiplication
 The Commutative Law of Multiplication
- changing the orders of the factors does not change the product
 The Associative Law
- factors may be grouped together and treated as one product without changing value of
product
 The Distributive Law
- certain variable is to be assigned and distributed to each of the other variables
 The Identity Number for Multiplication
- a number is not changed when it is multiplied by 1
 The Zero Principle of Multiplication
- when a number is multiplied by 0, the product is always 0

Division
Principles of Division
 Identity Number for Division
- dividing a number by 1 does not change the number
 When a number (not 0) is divided by itself, the quotient is 1
 When 0 is divided by a number (not 0), the quotient is 0
 Zero can never be used as divisor
  The quotient is changed if the dividend and the divisor are multiplied by the same number (not
0).

Week 2
Changing Fraction to Decimal
 Divide the numerator by the denominator

Changing Fraction to Percent

 Convert to decimal
 Multiply the decimal by 100
 Add the % sign

Changing Decimal to Fraction

 Write the decimal in fraction form with the figures after the decimal point as the numerator and
the denominator in multiples of 10 which represents the place value of the last digit.
 Reduce it to lowest term if possible.

Changing Decimal to Percent

 Multiply the decimal by 100 or move the decimal point two places to the right
 Add the % sign

Changing Percent to Fraction

 Convert to decimal
 Change the decimal to fraction
 Reduce to lowest term if possible

Changing Percent to Decimal

 Convert to decimal or move the decimal point two places to the right
 Drop % sign
Types of Fractions
 Proper Fraction
- numerator < denominator
 Improper Fraction
- numerator > denominator
 Mixed Number
- if fraction is combined with a whole number

Changing Improper Fractions to Whole or Mixed Numbers

 divide the numerator by the denominator.
 if there is no remainder, the quotient becomes the answer
 if there is a remainder, remainder becomes the numerator in the answer. The divisor or original
denominator is retained in the answer.
 while the quotient becomes the whole number part of the mixed number

Changing Mixed Number to an Improper Fraction

 multiply the denominator by the whole number portion
 add to this resulting product the original numerator. The denominator remains the
same.

Reducing Fractions to Lowest Terms

 divide both without a remainder

Reducing Fractions to Higher Terms

 multiply both numerator and denominator by the same number.

Week 3
Ratio and Proportions
Ratio – relation between two numbers or magnitudes
of the same kind
Rate – compares quantities of different units
Proportion - a part, share, or number considered in
comparative relation to a whole

Types of Proportion
 Direct - describes the direct relationship between two quantities. In simple words, if one quantity
increases, the other quantity also increases and vice-versa.
 Indirect/Inverse - describes the indirect relationship between two quantities.
 Partitive - quantity is divided into two or more equal or unequal parts

Week 4
Establishing Prices
Cost Price - purchase price of a product that a
company or store is going to sell
Operating Cost - price (per unit) incurred relative to
the production and sale of commodity
Selling Price - price at which the product or item is
 sold per unit.

Profit - money earned after the cost price and

operating expenses are accounted for after
the sale of a commodity
Mark-on - amount added to cost to arrive at the original selling price

Additional mark-up - refers to amounts added to the

original selling price to arrive at a new selling price.

Mark-up - amount by which the regular selling price

is increased

Mark-up cancellation - refers to the decrease in the

selling price that does not decrease it below the original selling price

Mark-down - reduction in the original selling price

Mark-up - amount by which the cost of a product is

increased in order to obtain the selling price

Take note: Mark-on is the amount added to cost to get the original selling price. Mark-up is any amount
added to cost to get the selling price. Unless specified in the problem, Mark-on and additional mark-up
will be called Mark-up only.

Mark Up Based on Cost

 sum of the cost (C) and mark-up determines the selling price (P)
 The formula for the rate of mark-up based on cost denoted by Mc is given by:
Mark Up Based on Selling Price

Week 5
Gross Margin – another term for margin

How to Compute for Trade Discount

 Find the discount
 Find the net invoice price
Or
 Find the net invoice price rate
 Find the net invoice price

Week 6
Income Statement/Statement of Profit and Loss - a
financial statement that shows the results of operation
- prepared on a monthly basis
- for tax purposes, it is prepared quarterly and annually.

Steps to Make an Income Statement

1. Indicate the heading (Company Name, Name of Financial Statement, Date)
2. Establish the sales (deduct contra sales like sales discounts and sales return and allowances from gross
sales to get the net sales if any)
3. Deduct the cost of sales from net sales to get the gross profit
4. Deduct the operating expenses from the gross profit to get the operating profit
5. Add other income if any
6. Deduce other expense if any to get either net profit or net loss

Week 7
Break-Even Point – the level of production at which
the total revenues equal the total expenses during a manufacturing process in a given accounting
period.
Fixed Costs - expenses that remain relatively the
same and do not change based on production or sales volume
Variable Costs - not consistent changes based on the
production output or a change in sales
volume
-cost of producing each product
QUARTER 2
Week 8
Simple interest – the charging interest rate r based
on a principal P over t number of years.
Compound interest – the interest on the first
compounding period is added on the
principal, which will then be the basis for the interest to be computed for the next period.

Utilities and Services – these are products/schemes

that make business transactions easy and comfortable.
Down Payment Formula

Interest Formula

Amortization On Loans

Amortization schedule - table which shows the division of each payment into principal and interest
- with the outstanding loan balance after each payment is made.

Amortization schedule using two repayment programs:

1. Equal Principal Payments - loan is repaid in equal
amounts of principal
 - installments are unequal
2. Equal Amortization - loan is repaid in equal
installments

Week 9.1
Salary – compensation paid on the basis of a fixed
annual rate
- salary earners usually get paid every 15 days (bi-monthly)
Wage – compensation paid on the basis of a rate per
hour worked
- calculated by multiplying the number of hours worked by the hourly rate of pay
- entitled to an overtime pay = work more than 40 hours
Income – (or earnings) money received by an
individual for the work done
Benefit – employee compensation given by an
employer on top of the basic salary/wage
Gross Earnings – amount an employee earns before
any deductions for benefits or taxes

Formulas:
Regular Pay = Hourly rate x Regular Hours Worked
Overtime Rate = Overtime Rate x Overtime Hours
Gross Earnings = Regular Pay + Overtime Pay

Week 9.2
Employee Benefits – covers renumeration other than
basic pay
- includes:
 Vacation
 Sick leaves
 Medical and hospitalization benefits
 Meal allowance
 Transportation allowance
 Clothing allowance
Vacation pay – 13 vacation days + 1 vacation day
every year on 2nd year of service
- Convertible to cash at the end of the year
- maximum: 18 days
Sick Leave – 12 days per year for first 2 years
Service
- additional 1 sick leave every year starting on
2nd year of service
- maximum: 15 days
- unused sick leaves are convertible to cash
Holiday pay – employees will be paid during holidays
– usual amount received per day

Taxable Benefit:
a. Wages
b. Salaries
c. Commissions
d. Royalties, and the like

Non-Taxable Benefits:
a. Monetized unused vacation leave credits of private employees not exceeding 10 days
b. Monetized value of vacation and sick leave credits paid to government employees
c. Medical cash allowance to dependents of employees (not exceeding Php 750 per employee per
semester of Php 125 per month
d. Rice subsidy of Php 1,500 or 1 week sack of 50 kg of rice per month amounting to not more than Php
1,500
e. Uniform and clothing allowance not exceeding Php 4,000 per annum
f. Actual medical expenses not exceeding Php 10,000 per annum
g. Laundry allowance not exceeding Php 300 per month
h. Employee’s achievement awards e.g. for length of service or safety other than cash or gift certificate,
with an annual monetary value not exceeding 10,000, received by the employee under an establish
written plan which does not discriminate in favor of highly paid employee
i. Gifts given during Christmas and major anniversary celebration not exceeding 5,000 per employee per
annum
j. Daily meal allowance for overtime work and night shift not exceeding 25% of the basic minimum wage
on per region basis

Payroll Deductions
1. Employee’s SSS contribution for private employees
2. Employee’s GSIS contribution for government employees
3. Pag-Ibig Fund Contribution for all employees
4. PhilHealth contribution for all employees
5. Withholding Taxes for all employees

Social Security System – insurance program

mandated by PH government
- covers all income earners or workers in the private sector
- 12% for salary not exceeding Php 20,000
 4% - member
 8% - employer

GSIS Contribution – Government Service Insurance

System
- social insurance institution that provides a
Defined benefit scheme under the law
- does not include those who don’t have
monthly regular hours of work
- 21% total GSIS contribution
 9% - personal share
 12% - government share

2 types:
a. Regular – compulsory premium payments on life
 insurance
b. Employees Compensation Fund – premium
payments paid by government agency to get
full coverage in case of work-related accident

Pag-IBIG Fund Contribution – established to provide

a national savings program and affordable
shelter financing for Filo workers
Mandatory for:
a. all the employees, workers, professionals, officers, and companies who are compulsorily covered by
SSS and GSIS
b. uniformed members of the AFP, BFP, BJMP and PNP
c. Overseas Filipino Workers (OFWs)
d. Filipinos employed by foreign-based employers, whether deployed locally or abroad

PhilHealth – (3% of basic salary)/2

Withholding Tax – tax withheld from income payments to individuals arising from an employer
If salary = 20,833 and below, withholding tax is 0.00
If salary = 20,833-33,332, withholding tax is 0+20%
Over 20,833

Taxable Income = Basic Monthly Salary – Total

Standard Deductions

Week 10
Overtime Pay – additional pay for work performed in
excess of 8 hours a day or 40 hours a week
for jobs requiring 5 workdays at 8 hours per
day

On Ordinary Day
On Rest Day and Special Day

On Rest Day which Falls on a Special Day

On a Regular Holiday

On a Rest Day which Falls on a Regular Holiday

Net Pay – amount that gets credited into your

employee’s bank account after all the deductions from Gross Pay

Week 11
Forms of Data Presentation
a. Textual – overview of the data itself and
description of how the data came to be
-detailed explanations to emphasize or de-emphasize relevant or irrelevant data
-most difficult to absorb
b. Tabular – description of the data presented
-comparing exact values between categories
of data and between them
-summarizing data with various units of scale
-least successful form
c. Graphical – visualization of data presented
-emphasizing relationships through the data
-simplest form to digest and least clutter
-least detailed

Types of Charts or Graphs

1. Line Chart/Graph – data the implies change
continuously over time
Uses:
a. showing trends
b. making predictions
c. comparing two or more different variables,
situations and information

2. Bar Chart/Graph – categorical data in terms of

rectangle bars
Uses:
a. data that are grouped into categories of nominal or ordinal data
b. comparing data among different categories
c. display large data changes over time
d. visualize the distribution of data if there’s more than 3 categories

3. Pie Chart/Graph – shows data and statistics in pie

format and illustrates numerical proportion
Uses:
a. create and represent the composition of something
b. displaying nominal and ordinal categories of data
c show percentage or proportional data
d. comparing areas of growth within a business such as profit
e. best for displaying data for 3-7 categories

Week 12
Analysis and Interpretation of Data
Steps to Interpret a Graph
1. Reading basics
2. Reading important numbers
3. Define trends
4. Compare trends
5. Analyze trends
6. Predict a development