Fundamentals of Accountancy, Business and Management 1 is a worktext that is meant to five students an in-depth, conceptual, and practical training in the elements of accountancy as it relates to the distinct but interconnected disciplines of business and management. In line with the Department of Education Senior Hight School Curriculum, this worktext clearly and visually establishes the interfaces among business, management and accounting, the branches of accountancy, the primary and secondary users of the financial information, the current forms of business organizations based on new laws, and the types of businesses based on the updated Conceptual Framework for Financial Reporting which underlies the International Financial Reporting Standards (IFRS). The IFRS is used by business firms in over 160 countries worldwide.