Chapter 1 - Income and Inventory System
Panghulo National High School Consumers Cooperative
Income and Inventory System
To comply with the requirements needed in
BCO 113 – ITConcepts and Systems Analysis and Design
A Proposed System by:
Camille D. Tengson
Danielle Rae L. Castillo
Jamiefelle A. Dela Cruz
Macx Erl Del M. Malvataan
Rubylyn T. Nuevas
August
First Semester
Chapter 1
INTRODUCTION
Background of the Study: Two of the most essential information for the owner(s) to know is the income and the inventory – a conformable statement probably to most businesses, particularly in merchandising. An example of this is Panghulo National High School Consumers Cooperative.
PNHS Cooperative is an entity located at 7 Bautista St., Panghulo Malabon City. It is composed of 40 participating members who are mostly from the faculty of the said school. Each member had contributed an amount which helped the entity to continue its operation. The cooperative focuses in buying and selling of goods, particularly drinks and schools supplies to aid the demands of the students. The profit earned is distributed using a certain percentage to the school and to the entity.
Profit is the money realized when the amount of revenues gained from the business activities exceeds the total amount of expenses. It determines the status of one’s business, whether it is earning a desirable amount or not. Thus,when making business decisions, it is important to know the transition of goods sold (for merchandise businesses), improvement of services a business can offer (for service businesses), and the expansion and inexistence of a business. The merchandise inventory, on the other hand, refers to the goods still not yet sold. Being knowledgeable of this, when one is engaging in a merchandise business, he/she would be able to determine whether the business needs to purchase another set of goods for the upcoming days – therefore being ready of the customer’s demands. Furthermore, this classifies goods that are
Income and Inventory System
To comply with the requirements needed in
BCO 113 – ITConcepts and Systems Analysis and Design
A Proposed System by:
Camille D. Tengson
Danielle Rae L. Castillo
Jamiefelle A. Dela Cruz
Macx Erl Del M. Malvataan
Rubylyn T. Nuevas
August
First Semester
Chapter 1
INTRODUCTION
Background of the Study: Two of the most essential information for the owner(s) to know is the income and the inventory – a conformable statement probably to most businesses, particularly in merchandising. An example of this is Panghulo National High School Consumers Cooperative.
PNHS Cooperative is an entity located at 7 Bautista St., Panghulo Malabon City. It is composed of 40 participating members who are mostly from the faculty of the said school. Each member had contributed an amount which helped the entity to continue its operation. The cooperative focuses in buying and selling of goods, particularly drinks and schools supplies to aid the demands of the students. The profit earned is distributed using a certain percentage to the school and to the entity.
Profit is the money realized when the amount of revenues gained from the business activities exceeds the total amount of expenses. It determines the status of one’s business, whether it is earning a desirable amount or not. Thus,when making business decisions, it is important to know the transition of goods sold (for merchandise businesses), improvement of services a business can offer (for service businesses), and the expansion and inexistence of a business. The merchandise inventory, on the other hand, refers to the goods still not yet sold. Being knowledgeable of this, when one is engaging in a merchandise business, he/she would be able to determine whether the business needs to purchase another set of goods for the upcoming days – therefore being ready of the customer’s demands. Furthermore, this classifies goods that are