CHP 1

4. There are several stakeholders who need financial reports.
Based on the
given needs described in each number, identify the stakeholder as:
A. Customers B. Manager C. Government D. Investor E. Lender
1. Requires the submission a weekly performance report of the different
sales department, as a basis of reviewing and evaluating performance.
2. Penalizes individuals and businesses for late filing of returns and for
dencient payment of taxes.
3. Demands the rollback of gas prices and threatens to stage a boycott.
4. Requires a project feasibility study as a basis for evaluating project's
profitability, solvency and liquidity before a loan can be approved.
5. Compares the performance of each listed company in the Philippine
Stock Exchange, (value and trend of its stock price) before making a
decision on what shares to buy.
5. Listed below are activities (planning, organizing, directing, controlling,

decision making) performed by division managers for finance, marketing,
production, sales, and human resource. Identify the activity and the division
manager.
a. Conducts yearly evaluation of employees’ performance.
b. Decides on whether to renovate or relocate the factory to give way for
the new machines that were purchased.
c. Makes a study on cost, volume, and profit considering the escalating
price of petroleum products which is the major operating cost the company.
d. Makes surprise tours of its retail outlets, observes how employees
entertain customers, and reviews the list of customers' returns and
complaints.
e. Suggests that the lead products should undergo redesigning and
repackaging to reduce cost and meet target prices.
6. Various reports are prepared for the users Identify the reports described
below as either:
A. audited financial statements B. tax reports C. managerial reports D special reports
1) A comparative report which shows trend of operation for three years

starting 2016 as a result of the massive overhaul made in the
operating program of PAL.
2) A performance report submitted to the Finance head of PAL showing

the variances between the actual costs and expenses incurred in
2018 by the marketing department and the 2018 budget prepared for
this department.
3) A report prepared by the Finance Head of PAL and submitted to the

judicial court in New York showing the rehabilitation plan with the
infusion of capital by Lucio Tan.
4) A sales report for the Vice President for Sales of Philippine Air Lines
showing number of flights and passengers based on specific routes
being serviced.
5) As the rehabilitation mentioned in 3) will affect the future operation of

the company, reports showing the effect of the rehabilitation were
also prepared by the Controller.
1. Identify the skill/quality (in numbers) described below that
professionals must possess.
a. Instead of whining and worrying, try to do your work as best as you
can. Nothing is impossible. No problem is so great that it cannot
be solved.
b. You should be inquisitive, open minded, sensitive to what is going
on, so you will not run out of ideas.
c. You should learn to adapt and change your algorithm more
appropriately as well as the manner of tax reporting based on the
new Train laws enacted.
d. Professionalism requires one to possess adequate knowledge,
training and experience.
e. Take time to listen. Understand others. Believe in the sincerity and
honesty of your teammates. Be sensitive and caring so you can
lighten the burden in the workplace.
1. Creativity 2. Flexibility 3. Empathy 4. Competency 5. Positive Attitude
2. Identify the knowledge category descried below which professionals

must possess.
a. Taxes, prices and trade practice are things that must be learned to be
able to handle global trading and protect the business against risks
involved in the foreign market.
b. Knowledge of this course will give you the ability to reach people,
buy, sell and move products promptly within the least possible time
and effort.
c. Knowing political Science, Literature, History and Culture help you
interact with different groups, understand their behavior, and their
likes and dislikes.
d. With this knowledge you can easily understand the reports prepared
by a firm, evaluate their financial performance and structure that will
lead you to make sound decisions.
5.

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4. There are several stakeholders who need financial reports.

5. Listed below are activities (planning, organizing, directing, controlling,

1) A comparative report which shows trend of operation for three years

2) A performance report submitted to the Finance head of PAL showing

3) A report prepared by the Finance Head of PAL and submitted to the

5) As the rehabilitation mentioned in 3) will affect the future operation of

1. Creativity 2. Flexibility 3. Empathy 4. Competency 5. Positive Attitude

2. Identify the knowledge category descried below which professionals

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