Brief Summary No.

Member: Beltran, Ritch Aldrin P.

Tackling Comprehensive Task Accounting felt like a mix of excitement and worry.

Planning was like having a confusion, but working with the team was a different story. We had to

stay connected to get things done.

Checking progress and getting feedback were key. It wasn't just about finishing tasks; it

was about doing them right.

Dealing with resources was like finding the right balance: not too much, not too little. It

was about being smart with what we had.

Sure, there were tough times, but it taught me to roll with it. Plans change, and that's

okay.

Looking back, it was a journey with ups and downs. Handling big tasks is a mix of

planning, teamwork, and being ready for surprises.

 Brief Summary No. 2

Member: Corcuera, Chloe Alayne B.

Doing this big task about money taught me a lot. First, We wrote down every little money

move in the journal. It was like building the base of a tower, making sure every detail was right.

Then, We sorted everything neatly in the general ledger, like organizing toys into different boxes.

This helped us see where all the money was coming from and going in a clear way.

Fixing mistakes in the adjusted and unadjusted trial balances part was a bit like making

sure all the puzzle pieces fit perfectly. We checked and corrected things to show exactly how the

company's money situation really looked. After that, We told a story with the income statement

about how much money the company made and spent. It showed if the business was doing well

financially during a certain time. Looking at equity was like figuring out how much of the

business really belongs to the owner. It's about understanding the connection between what the

business owns and owes.

Checking the financial position was like taking a big picture view. We looked at all the

money stuff, what the business has, what it owes, and what belongs to the owner. This helped us

see if the company is in a good spot financially. The cash flow statement was like following the

path of money moving in and out. It helped us understand how easily the business could handle

its day-to-day expenses. Now, looking back at the task, it made me see how all these money

pieces fit together. It's not just about numbers; it's about telling a simple story to understand how

well a business is doing financially.

 Brief Summary No. 3

Member: Janairo, Eugene L.

Undertaking comprehensive tasks involves more than just recording numbers; it demands a

meticulous approach to ensure the accuracy and integrity of financial data. By meticulously organizing

and categorizing transactions, one can establish a solid foundation for financial analysis. This systematic

method not only facilitates efficient auditing but also contributes to transparent and reliable financial

reporting, essential for informed decision-making within an organization. Recognizing the interconnected

nature of various financial elements, from ledger entries to reconciliations, is key to achieving a holistic

understanding of the financial health of a business.

Preparing a comprehensive financial statement for a fictional company, considering various

accounts such as assets, liabilities, equity, revenue, and expenses. Ensure accuracy, adherence to

accounting principles, and provide explanations for any adjustments made. Bonus points for creating

insightful financial analysis based on the statements.

We overcome challenges in comprehensive accounting tasks by involving strategic planning and

effective execution. Start by breaking down the task into smaller, manageable components. Prioritize

tasks based on deadlines and importance, creating a step-by-step action plan. Utilize accounting software

and tools to streamline processes and reduce manual errors. Regularly communicate with team members

to ensure collaboration and address any uncertainties. Continuous learning and staying updated on

accounting regulations also contribute to overcoming challenges. Finally, maintain a proactive approach,

adapt to changes, and seek assistance when needed to enhance overall task efficiency.
 Brief Summary No. 4

Member: Marin, Shelbie D.

Tackling a comprehensive project in basic accounting as a group opened made me aware

of the difficulties and cooperation needed in this field. Our first task was to record transactions in

a journal. This wasn't just jotting down numbers – we had to ensure every entry adhered to the

double-entry accounting principle. It was a team effort to balance every debit with a

corresponding credit, requiring cooperation and attention to detail from each of us.

We then moved these journal entries into the ledger, seeing their impact on different

accounts. Adjusting entries for things like future costs or equipment value loss were challenging.

The toughest part was creating financial statements like the income statement and balance sheet,

weaving together our company's financial story.

This group project in fundamental accounting taught us more than just the ins and outs of

accounting. We faced real challenges, especially in creating business transactions. It's one thing

to understand accounting rules, but applying them to realistic scenarios requires us to think

beyond the textbooks.

 Brief Summary No. 5

Member: Ricasa, Isshi Amerie C.

After receiving the task and being appointed as the group leader for this comprehensive task. I initially experienced a mix of

nervousness and excitement as I explored the accounting field in the role of a "junior accountant." Upon selecting and gathering my

members, we immediately scheduled a post-class meeting to strategize and formulate a plan for turning this challenging task into an

enjoyable and educational endeavor for all involved. During the first meeting, the group decided not to do each task individually or by

pair. To avoid mistakes and overlooking details, we chose to do each part as a group. I assigned specific members to handle the input and

formatting of our output, while others assumed the role of spectators, ensuring that every aspect progressed smoothly and accurately.

As soon as we completed the 50 transactions, we started to work together in journalizing the transactions. Due to the

Christmas break, we transitioned to online meetings to stay connected and advance our progress in this activity. Throughout these virtual

sessions, we successfully accomplished portions of each financial statement as a group. While balancing the trial balance posed

challenges, the decision was made to resume the task after the break. Despite the complexity, the excellent teamwork within the group

enabled us to successfully balance the transactions. The sense of accomplishment after meticulous checking and revisions was

indescribable, leaving each team member pleased as we smoothly continued the activity.

Moving on to the process of doing the financial statements, I could say that it is manageable since we have the formats

gathered as a guide in this process. Everything went well and errors are avoided because of the spectators that tell the other group if

there’s an error made during the whole process. Upon reaching the financial position portion, there is a stressful but funny situation that

we encountered. The initial attempt did not yield a balanced financial position, prompting a thorough review of each financial statement

produced. Despite finding no errors, we moved to the transactions and trial balance, only to discover that the Google Sheets had

inaccurately computed the current assets—a humorous twist considering the meticulous effort invested in error identification, leading us

to uncover a software glitch.

Overall, this activity has become an integral part of my journey toward becoming a future Accountant. It not only exposed me

to various aspects of the field but also enhanced my skills and knowledge. This experience serves as a solid foundation that will

undoubtedly benefit me in the future. Working closely with my group allowed me to share my understanding of accounting concepts and

assist them in applying their knowledge to the task. I hope they, too, gained valuable insights into the challenges and fulfillment that

come with an accounting profession. Ending this activity on a successful note prompts reflection on the process we undertook.

Recognizing the collective efforts of the group reinforces my realization that the path toward attaining the CPA title is long but ultimately

rewarding. Despite the anticipated difficulties, achieving this milestone will undoubtedly be priceless.
 Brief Summary No. 6

Member: Torga, Maria Rian Maxinne Z.

Upon making this Comprehensive Task inevitably poses a variety of challenges, ranging

from time restrictions to unexpected obstacles. Whether it’s managing a workload, overcoming

uncertainty, or dealing with unexpected barriers, these challenges become vital parts. Breaking

the endeavor down into manageable phases and developing a well-structured plan lay the

groundwork for success.

As the task develops, there is a change toward focused resolve, motivated by the desire to

achieve objectives and overcome obstacles. Reflective moments throughout the process can lead

to self-discovery, resulting in a better awareness of personal strengths, shortcomings, and

preferred work methods. It's a path of self-discovery, resilience, and lifelong learning.

Individuals who navigate barriers with effective techniques and embrace the profound

realizations that arise not only complete the work at hand, but also build skills and insights that

contribute to their personal and professional development.

Engaging in a comprehensive activity creates a range of feelings, including passion and

worry. The initial spark of passion pulls one ahead, eager to take on the challenge. As the activity

progresses, a sense of accomplishment alternates with times of uncertainty, resulting in a

dynamic emotional trip. Finally, the satisfaction gained from completing a full task demonstrates

resilience and the realization of one's ability.

 Brief Summary No. 7

Member: Velasco, Lujille

As I have progressed through the comprehensive task, I have had the opportunity to

explore and gain a deeper understanding of various aspects of accounting. From carefully noting

transactions to examining financial statements, each step has helped me see how crucial accurate

financial reporting is for making good decisions in a business.

While I went through the tasks of journaling, ledger-keeping, and creating trial balances,

it became apparent that these procedures not only improved my technical accounting abilities but

also resulted in significant personal insights. The financial information is interconnected, and

even small differences can have significant effects on future analyses. Accurate records are

crucial, and staying mindful of potential ripple effects is essential. Each step of the process

requires precision and a sense of responsibility for ensuring accuracy.

Overall, doing these activities helped improve my learning by highlighting the

importance of proper financial management, accurate reporting, and recognizing the relationship

between financial elements and their impact on a company's financial health. The experience has

taught me the essential role that accounting plays in making sound business decisions and has

inspired me to continue to develop my skills in this field.

 Brief Summary No. 8

Member: Villaverde, Jovi Anne

In Fundamentals of Accounting 2, the process of making the comprehensive task taught

me a lot. I learned how to link transactions to the right accounts. Making a journal and ledger

helped organize the information. The unadjusted trial balance gave a starting point, showing the

balance before making adjustments.

Adjusting entries became an important step, refining records for accuracy. The adjusted

trial balance refined the numbers, making sure they truly reflected the financial situation. Then

came the part of creating financial statements. The statement of comprehensive income showed

how well the business did financially. The statement of equity tracked changes in ownership and

capital. The final step was the statement of cash flows, detailing where the money went and came

from.

This performance task wasn't just about numbers. It helped me see the real-world

application of accounting. It made me realize that accounting isn't just about calculations but

understanding the story behind the numbers.