FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1 introduces students to the basics of accounting. lt discusses the accounting cycle from journalizing to the preparation of the single step income statement for the sole proprietorship up to the adjusting and closing entries. This does not only include journalizing for single proprietorship but also for the merchandising business as well. Hence, it discusses subsidiary ledgers and special journals which facilitate recording of business transactions for merchandising operators. Also tackled in this book is the relevant topic of the value-added tax in recording business transactions. The book provides students practice exercises to test their understanding of the subject matter. On the part of the instructor, theory exercises and computational exercises ranging from easy, average, and difficult are provided in the Teacher''''''''''''''''s Manual to gauge students'''''''''''''''' mastery of the subject matter. Answers to these exercises are only available to the instructor which is included in the Teachers'''''''''''''''' Manual. Simple, user friendly and easily comprehensible, the practice problems in this book also comes in an electronic module for the learners'''''''''''''''' delight. Since the computer is very much part of a student''''''''''''''''s life, it is utilized as a learning tool to enhance students'''''''''''''''' learning. Hence, learning accounting becomes fun and enjoyable while providing students the opportunity for maximum learning.