FINANCE

- is the systematic and comprehensive recording of financial transactions pertaining to a business.

ACCOUNTING EQUATION

ASSETS = LIABILITIES + OWNER’S EQUITY

DOUBLE-ENTRY NORMAL BALANCES

BOOKKEEPING - It is the side where a
- tells us that if we add specific account increases.
something from the one *Asset has a debit normal
side, which is asset, we balance,
must add the same amount - cash as an asset is debited to
to the other increase, while credited to decrease.
side to keep them in *On the other hand, liabilities
balance. and owners’ equity have a
Example. credit normal balance.
A = L + OE - liability account is credited to
increase, while debited to decrease.
P500.00 = P500.00

T-ACCOUNT ANALYSIS

The debit to cash increases the Cash

Account by PHP500 while the credit to
Accounts Payable increases this liability
account by the same PHP500.

 Real or Permanent Accounts. These accounts remain  Nominal or Temporary Accounts. These accounts
open and active for the life of the enterprise. that reflect activities for a specific accounting period.

Using the accounting equation, we can now expand the analysis that will include both real and
nominal accounts. All nominal accounts will be then closed to a Retained Earnings account at the
end of the period, which is an owner’s equity account.
Illustrative Example:
Calvo Delivery Service is owned and operated by Noel Calvo. The following selected transactions were
completed by Calvo Delivery Service during February:
A. Received cash from owner as additional investment, P35,000.
B. Paid creditors on account, P1,800.
C. Billed customers for delivery services on account, P11,250.
D. Received cash from customers on account, P6,740.

NOMINAL ACCOUNT
Two major categories of nominal accounts:
• Expense Accounts
- A resource, when not yet used up for the current period, is considered an Asset and will provide benefits at a future time.
- On the other hand, a resource that has been used for the current period is called an Expense. At the end of each accounting period,
expenses are closed out to the Retained Earnings Account which decreases the Owners’ Equity. Since expenses decrease the
owners’ equity, those expense accounts carry a normal debit balance.
• Revenue Accounts
- Reflect the accumulation of potential additions to retained earnings during the current accounting period.
- At the end of the accounting period accumulation of revenues during the period are closed to the Retained Earnings Account which
increases Owners’ Equity.
- Therefore revenue accounts carry a normal credit balance meaning the same balance as the Retained Earnings Account.
Illustrative Example:
J. F. Outz, M.D., has been a practicing
cardiologist for three years. During April 2009,
Outz completed the following transactions in
her practice of cardiology:
Mar 1 Provide medical services to clients for
cash P35,000.
Mar 2 Paid rent for the month, P3,000.
Paid advertising expense, P1,800.
Mar 6 Purchased office equipment on
account, P12,300.
Mar 15 Paid creditor on account, P1,200.
Mar 27 Paid cash for repairs to office
equipment, P500.
Mar 30 Paid telephone bill for the month,
P180.
Mar 31 Paid electricity bill for the month,
P315.

ACCOUNTING CYCLE
Step 1: Analyze Business Transactions.
Step 2: Record This in the Journal.
Step 3: Post the Transactions on a Ledger.
Step 4: Prepare an Unadjusted Trial Balance.
Step 5: Make adjustments. Journalize adjusting entries.
Step 6: Prepare an Adjusted Trial Balance.
Step 7: Prepare the financial statements.
Step 8: Make the closing entries.
Step 9: Make a Post-Closing Trial Balance.
Post-Closing Trial Balance shows the accounts that are permanent or real. These are the accounts that can be seen in your balance sheet.
- It is prepared to test if the debit balances equal the credit balances after closing entries are considered.
 ECONOMICS

MARKET STRUCTURE- describes the state of the market regarding the competition or the actual market setting.

COMPETITION- rivalry among sellers in a particular market

MARKET- This is a type of market form in which there are more firms that sell the same products or render services
and no one has enough market power to be able to set prices on the product or service without losing
business as the conditions for perfect competition are strict, there are only a few markets that are
considered to be perfectly competitive thus this market form only exist to compare with other market
forms.

PERFECT COMPETITION- has impersonal competition among sellers who compete to sell their own goods and services
among purchasers who use their purchasing power to acquire the availability of products.

A. MONOPOLISTIC COMPETITION- a market structure that has a large number of firms that offer differentiated products.
It is easy to enter/ exit the market.

B. OLIGOPOLY- It is a form of market structure in which only a few firms produce products that range from slightly
differentiated to highly differentiated. Each firm is huge enough to influence the industry.

C. MONOPOLY-  Is a precise form of market structure. A monopoly occur when only one person or enterprise is
the only supplier of a particular good.

PURCHASING POWER
 Is the equivalent rate of a currency expressed in terms of the value of goods or services that
a unit of money can buy.
MIGRATION
 Labor migration is a term used which refers to people with Filipino citizenship who reside in another country for
a restricted period of employment.
UNEMPLOYMENT
 Is a condition of not being currently employed. Those not employed will encounter a reduction in
their living standards, as their income decreases.
OIL PRICE INCREASES
 Peace and order is a vital element in maintaining economic development, social order and political firmness.

DEMAND
 Is an economic principle can be defined as the quantity of a product that a consumer desires to purchase goods and services at a
specific price and time, when other factors besides price are held constant.
Implies three things:
 desires to possess a thing (needs and wants)
 the ability to pay for it or means of purchasing it.
 willingness to utilize it.

ROBERTSON
 “Other things being equal, the lower the price at which a thing is offered, the more a man will be prepared to buy it.”

SUPPLY SCHED
EQUILIBRIUM SCHED
 HISTORY OF VOLLEYBALL

WILLIAM G. MORGAN

 Morgan, a graduate of the Springfield College of the YMCA in Holyoke Massachussets.

 1895- The game of volleyball, originally called mintonette, after the invention of basketball by only 4 years.
 The first volleyball net, borrowed from tennis, was only 66 high.
 1900- A special ball was designed for the sport. It was introduced in Asia (India).
ELWOOD S. BROWN
1910- The Physical, Director of the YMCA, Elwood S. Brown, first introduced volleyball to the Philippines that year.
1916- In the Philippines, an offensive style of passing the ball in a high trajectory to struck by another player (the set and
spike) were introduced. The Filipinos developed the bomba or kill, and called the hitter a bomberino.
 The volleyball was added to school and college
physical education and intramural programs.
WHAT IS VOLLEYBALL?
 A game played by two teams, usually of six players on a side, in which the players use their hands to bat a ball back and forth
over a high net, trying to make the ball touch the court within the opponents playing area before it can be returned.

EQUIPMENT

COURT DIMENSIONS Court 18 x 9m Diagonal 20.12m Attack line 3m from centre

VOLLEYBALL NET -A long rectangular net that is held up between two poles. They are placed right in the center of the
volleyball court with each team on one side of the net.
BALL- The ball is spherical, made of flexible leather or synthetic leather case with a bladder inside made of rubber or a
similar material. Its circumference is 6567 cm and its weight is 260280 grams.

HOW TO PLAY VOLLEYBALL

 There are two teams comprising 12 players each. TOSS COIN The winner can either choose whether to serve or receive and
select the side of the court. After the toss only six players from each team including the Libero start playing the game.

SERVE

The server must serve the ball anywhere inside the serving area and behind the end line. Must wait for the referees signal
before serving.

 SCORING SYSTEM
 The failure of the receiving team to return the ball legally over the net into the opponent’s court scores one point for the
serving team. Matches are played best of five sets. The first four sets are played to 25 points, with the final set being played
to 15 points. A team must win a set by two points. There is no ceiling, so a set continues until one of the teams gains a two-
point advantage.

PLAYERS ROTATION

 Players will rotate in a clockwise direction each time a new server takes his turn to serve. The same player will serve for her
team until a side out occurs, wherein the opposing teams earns the point and the serve.
 Illegal rotation, with the wrong players may switch positions, but only front line players may jump from the attack area to
bring the ball over the net to the other side of the court.

VIOLATIONS

 A server steps on the end line during a serve.

 A serve does not cross the net or goes under it.
 The ball is illegally hit, through caring, palming and throwing.
 A player touches the net or steps over the center line during the game.
 A player reaches over the net (except during follow through or block.

VOLLEYBALL GAME OFFICIALS

REFEREES- First referee stands on a raised platform at one end of the net and is the incharge of the match who has final authority
over all decisions. Second referee stands on the other side of the net and is responsible for signaling faults, violations and authorizes
game interruptions, substitutions and timeouts.
VOLLEYBALL GAME OFFICIALS SCORER- Records the points scored, timeouts, records misconduct warnings, the final result
and checks that substitutions are legal.
ASSISTANT SCORER- Records the details of the Libero replacements, operates the manual scoreboard, starts and ends the timing of
technical time-outs.
LINE JUDGES- Usually two or four line judges check for any line faults including the foot faults of the server.
 FUNDAMENTALS SKILLS
SERVICE

 (a) Underhand service

 Position The ball is held in the left hand (for
right hander), body facing the court, left leg is
kept a little ahead of the right.
 Execution Toss the ball with the left hand and hit the ball with the right hand using the palm which is facing upwards.

 Follow through The hitting hand and the right leg also should follow the direction of the ball.

SERVICE

 (b) Overhead service

 Position Ball is held with the left hand and the feet are kept with one foot slightly ahead of the other.
 Execution Ball is tossed with the left hand and the right hand goes backward with the body bent slightly backward, eyes on
the ball. The ball is now hit with the right hand using the palm which is facing forward and downwards.
 Follow through Hitting arm and the body, move forward stepping with the rear foot.

DIG

 used to receive and pass the ball with control using the forearms.
 It is usually executed with the first contact by the team and very useful in defense as it allows the receiver to have a good
control of the ball and pass it to the setter positioned near the net

SET

 It is an overhead pass used to toss and put theball in the right position for the attacker or spiker.
 It is performed by the setter and is usually the second contact of the receiving team with the ball.

SPIKE

 It is a forceful hitting or smashing of the ball across the net which serves to be the most effective way for a team to score a
point during a rally.

BLOCK

 It is a defensive act of preventing the ball coming from an attack of the offensive team from crossing the net.
 This skill is very useful as it may earn the defensive team a point and take the chance to serve the ball.

SANCTION CARDS
YELLOW CARD

 It will often occur after a team has been given a verbal warning for misconduct earlier in the game.

RED CARD

 A player or coach continues to display unsportsmanlike conduct following the issuance of a yellow card.
 If an instance is deemed, extreme or unnecessary, the referee may issue a red card upon the first violation.

YELLOW AND RED CARD

 Given to a player or coach as disqualification for the third incidence of rude conduct, the second incidence of offensive
conduct, or for physical attack or threathening aggression.
 The most extreme form of punishment used in volleyball is disqualification.
 As a consequence, the disqualified player or coach must leave the competition area for the remainder of the game