Notre Dame of Masiag, Inc.

Masiag, Bagumbayan, Sultan Kudarat

Government Recognition (R-XII) No. SK 405761-040, s. 2021
DepEd ID: 405761 ESC ID: 1201693
TIN: 000-578-187 (Non VAT)

FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT2

LEARNING PLAN
S. Y. 2024-2025

SUBJECT: FUNDAMENTALS OF ACCOUNTANCY, BUSINESS & MANAGEMENT 2 QUARTER: THIRD

GRADE LEVEL: 12 WEEK: 2

TOPIC:
Statement of Comprehensive Income (SCI)
CONTENT STANDARDS:
The learners demonstrate an understanding of…

the service income and operating expenses of a service business as well as sales, contra sales, purchases, contra
purchase accounts, cost of goods sold and general administrative and selling expenses of a merchandising
business that will equip him / her in the preparation of the SCI for both service and merchandising businesses
PERFORMANCE STANDARDS:
The learners shall be able to…
solve exercises and problems that require preparation of SCI for a service business and a merchandising business.
LEARNING COMPETENCIES:
The students will be able to:
Identify the elements of the SCI and describe each of these items for a service business and a
merchandising business ABM_FABM12-Ic-d-5
 Compare and contrast the single-step approach and multi-step approach.
 Prepare an SCI for a service business using the single-step approach. ABM_FABM12-Ic-d-6
 Prepare an SCI for a merchandising business using the multistep approach. ABM_FABM12-Ic-d-7
INTRODUCTION
The statement of comprehensive income (also known as an income statement) shows the
result of operations in an accounting period. It is composed of income and cost/expense accounts. In this
section, we will discuss the elements of a statement of comprehensive income and its approaches.

INSTRUCTION/DELIVERY
PROCEDURE
A. MOTIVATION
Activity 1: My Daily Allowance!
Direction: Account your daily allowance and expenses for 1 week by completing the table below.
Day 1 Day 2 Day 3 Day 4 Day 5
Daily allowance
Expenses
Saving/loss
Process Questions:
1. How much is your weekly allowance?
2. How much is your weekly expenses?
3. Is your allowance enough for your expenses? Why or why not?
4. Is there any savings you made during the week? How much?

B. ACTIVITY:
Activity 2: Fill in the Blanks
Instruction: Fill in the blank with the correct answer (Critical Thinking, Communication and Collaboration)

_________ 1. Formerly known as Income Statement.

_________ 2. The excess of revenues over expenses
_________ 3. Refers to proceeds from the sale of merchandise.
__________4. Shows the results of operation of the business for a given period of time.+
__________5. Also known as nominal accounts.
__________6. The two elements of financial statements for SCI
__________7. Includes Salaries and Utilities
__________8. If expenses is more than net income.
__________9. Includes rental revenue, sales, and service income
__________10. Best approach for a single proprietorship business
.
C. ANALYSIS
This time, you need to reflect on the following questions because it will help you to understand the
appropriate way on illustrating and classifying a random variable. Answer the following questions:
1. How do you find the activity?
2. How did you term being referred to? What guides you?
3. In your own words what is Statement of Comprehensive Income?

C. ABSTRACTION
A Statement of Comprehensive Income consists of all revenues, gains and losses that cause that equity account
to change at the end of the accounting period. They are nominal accounts or temporary accounts because at the
end of the accounting period, balances under these accounts are transferred to the Capital Account, thus having
only temporary amounts and resulting to zero as the balances at the beginning of the following year.

The elements of Comprehensive Income are as follows:

1. Heading is compose of company name , the SCI title and the date starts with for the period ended (date)
2. Income are increases in economic benefits during the period in the form of inflows or enhancement of
assets or decreases of liabilities that result in increases in equity , other than those relating to investments
by the business owners.
3. Expenses are decreases in economic benefits during the period in the form of outflows or depletions of
assets or increases of liabilities that result in decreases in equity, other than those relating to distributions
to the business owners.
4. Net Income (Net Loss) is the result of operation. If the income is greater than the expenses, then the
result in net income while if the expenses are greater than income, then the result is net loss.

Under the nature of expense method, expenses are presented according to their nature (for example,
depreciation, purchase of materials, transport costs, employee benefits and advertising costs) and are not
reallocated among their functions within the entity. This method is easy to apply because no reallocation of
expenses is necessary.

A SCI shows expenses by their nature is referred to as Single-Step Approach

AYOS Company
Statement of Comprehensive Income
 For the period ended December 31, 2019

Income Php5,000.00
Expenses (1,500.00)
Profit for the year Php3,500.00
Other Comprehensive Income 500.00
Total Net Income Php4,000.00
=========

Shown below is the format of statement of comprehensive income with proper label of its elements:

ADRIAN TRANSPORT HEADING

STATEMENT OF COMPREHENSIVE INCOME
For the period January 31, 2020

Service Revenue Php50,000.00

Expenses

Salaries Expense Php15,000.00

Rent Expense 10,000.00
Utilities Expense 5,000.00 30,000.00
NET
Net Income/(Net Loss) Php20,000.00
INCOME
Add Other Comprehensive Income 4,000.00
Total Net Income Php24,000.00
==========

To further understand the lesson, let the students watch the video given the link below.
https://www.youtube.com/watch?v=lp1ZlL-LkmU
PRACTICE
Let the students answer the following activities.
ACTIVITY 3: STATEMENT OF COMPREHENSIVE INCOME

Directions: Analyze the transactions of Tiny Bubbles Co, put an emoji smiley if it is part in the preparation of
Statement of Comprehensive Income and NA if it is not part in the preparation of SCI.
Tiny Bubbles, a parlor owner, asks you to prepare her statement of comprehensive income for the month of August
with the following transactions.

1. Her company has cash deposited in a bank account amounting to P50,000 as her initial capital.
2. She bought parlor furniture set amounting to Php75, 000.00 by paying 20% down and the balance in 12
monthly installments.
3. Supplies expense for the month is Php20,000.00
4. She paid two month’s rent amounting to Php24,000.00
5. Her total income for the month of August is Php120, 000.00 cash.
6. She paid one staff for Php5,000.00 a month
7. The business paid Php4,500.00 for the light, water and internet connection.
8. She has trade receivables amounting to Php25,000.00 for services rendered
9. She had a loan from the bank amounting to Php100,000.00 to be paid in 5 years
10. Paid transportation expenses amounting to Php2,500.00.00

ACTIVITY 4: ANSWER ME!

Direction: Now that you have read the brief introduction of Statement of Comprehensive Income you can answer
the statement below. Write the correct word or words to complete the statement.
_______1. An example to this is gains or losses on hedging derivatives
_______2. An approach used on preparing statement of comprehensive income that shows expense by its nature.
_______3. An increases in economic benefits during the period in the form of inflows or enhancements of assets or
decreases of liabilities that result in increases in equity
_______4. This occurs when revenue is less than expenses.
_______5. It arises in the course of the ordinary activities of a business and is referred to by a variety of different
names including sales, fee, interest, and etc.
_______6. The difference between an Income Statement and SCI …
_______7. The nature of business for a single step statement of comprehensive income
_______8. The nature of business for a multi-step statement of a comprehensive income
_______9. The expenses to be given to the company’s employees for the services they have rendered.
______10. The expenses usually referred to by Zaneco, NAWASA and PLDT
Activity 5. Compare Me!
Direction: Using the Venn Diagram below, compare and contrast SINGLE-STEP APPROACH and MULTI-STEP
APPROACH.

SINGLE-STEP APPROACH MULTI-STEP APPROACH

Activity 6: SOLVING
Direction: Solve for the unknown (Remember the formula Income minus
Expenses plus Comprehensive Income is equal to Net Income or Net Loss)
1. Service Income ???
Expenses (Php10,000.00)
Net Income/(Net Loss) Php25,000.00

2. Service Income Php35,000.00

Expenses (Php15,000.00)
Net Income/(Net Loss) Php20,000.00
Other Comprehensive Income Php5,000.00
Comprehensive Income ???

3. Service Income Php65,000

Expenses ???
Net Income/(Net Loss) Php18,000
Other Comprehensive Income 2,000
Comprehensive Income Php20,000

4. Service Income Php58,000

Expenses (Php38,0000)
Net Income/(Net Loss) ???
 Other Comprehensive Income Php10,000
Comprehensive Income Php30,000

5. Service Income Php80,000

Expenses (Php120,000)
Net Income/(Net Loss) ______________

ENRICHMENT

Ask to students to answer the following additional activities.

Activity 7: Prepare Me!
Directions: Prepare a Statement of Comprehensive Income for the following independent transactions. Use your
surname as your company name.
1. Service Revenue Php95,000.00; Salaries Expense Php5,000.00; Transportation Expense Php15,000.00;
Rent Expense Php20,000.00; Utilities Expense Pph3,000.00; Other Comprehensive Income is Php8,000.00

VALUES INTEGRATION
Let the students reflect on the question below.
Activity 8. Let’s Reflect!
1. As Notre Damean, which of the core values NOTRE DAME developed/activated in yourself as we tackle
the topic Statement of Comprehensive Income?
EVALUATION
Activity 9 : CHOSE ME!
I. Multiple Choice
Direction: Identify the account’s title being described. Choose the letter of the correct answer.
1. Miss Beautiful Salon bought an advertising subscription to promote her salon in social media.
a. Advertising Expense
b. Supplies Expense
c. Freight-in
d. Purchases
2. Cool-Lab Refreshment Merchandise bought 10 boxes of different flavored juice to sell in the store.
a. Advertising Expense
b. Supplies Expense
c. Freight-in
d. Purchases
3. Scratch Bright Junk Shop sold spare parts of the refrigerator to a client.
a. Service Income
b. Sales
c. Merchandise Inventory
d. Other Income
4. A wedding coordinator organizes a party to a client.
a. Sales
b. Service Income
c. Advertising Expense
d. Finance Cost
5. The business paid interest on a bank loan.
 a. Interest expense
b. Interest income
c. Sales
d. Purchases
II. TRUE OF FALSE
Instructions: Write True if the statement is correct and False if the statement is incorrect (Collaboration)
__________1. The revenue earned by a service business for rendering services for a fee is commonly referred to
as Service Income or Service Revenue.
__________2. A Statement of Comprehensive Income may be presented using a “multiple – step statement “
presentation only?
__________3. Revenue includes both income and gains.
__________4. If expenses are greater than income, the difference is net loss.
__________5. The Revenue earned by the merchandising business from its sales of goods is commonly referred
to as sales.
__________6. Income increases economic benefits during the period in the form of inflows of cash from rendering
services.
__________7. The Statement of Comprehensive Income shows information on an entity’s financial performance
during the period.
___________8. A Statement of Comprehensive Income that shows expenses by its function is referred to as
prepared usingsingle-step approach.
___________9. Expenses encompass both expenses and losses.
___________10.The statement of profit and loss and other comprehensive income is synonymous to the income
statement.
III. Preparation of Statement of Comprehensive Income.
Direction: Given the data below. Prepare a Statement of Comprehensive Income.
1. Salaries Expense Php25,000.00; Transportation Expense Php1,000.00; Rent Expense Php10,000.00;
Utilities Expense Php5,000.00; and Service Revenue is Php40,000.00.

2. Service Revenue Php95,000.00; Salaries Expense Php5,000.00; Transportation Expense Php15,000.00; Rent
Expense Php20,000.00; Utilities Expense Pph3,000.00; Other Comprehensive Income is Php8,000.00
Prepared: Checked: Approved:

KENETH ROSE F. MABITASAN LANY T. CATAMIN DANILO B. MONTOY, MAEM

Teacher SHS Coordinator Principal