The Philippine Stock Exchange Inc. is the national stock exchange of the Philippines.  The Philippine Stock Exchange (PSE) is the corporation that governs Philippine local stock market. Listed are name of corporation where you can invest, indicated are the names, par value of the stocks and 52 weeks high and low price.

BANKS and OTHER FINANCIAL INSTITUTION

STOCKS
ASIA UNITED BANK
PAR VALUE: 10.00
HIGH : 60.00
LOW: 45.60

BDO UNIBANK INC
PAR VALUE:10.00
HIGH: 149.00
LOW: 103.40

BANK OF PHILIPPINE ISLANDS
PAR VALUE: 10.00
HIGH: 108.50
LOW: 85.50

CHINABANK
PAR VALUE: 10.00
HIGH: 41.60
LOW: 33.00

EAST WEST BANK
PAR VALUE: 10.00
HIGH: 35.15
LOW: 18.32

METROBANK
PAR VALUE: 20.00
HIGH:96.50
LOW: 69.00

PB BANK
PAR VALUE: 10.00
HIGH: 16.36
LOW: 12.00

PB COM
PAR VALUE:100.00
HIGH: 26.50
LOW:21.20

PHILIPPINE NATIONAL BANK
PAR VALUE:40.00
HIGH:71.00
LOW:53.00

PHILTRUST BANK
PAR VALUE:10.00
HIGH:153.90
LOW:100.00

RCBC
PAR VALUE:10.00
HIGH:66.00
LOW:33.50

SECURITY BANK
PAR VALUE:10.00
HIGH:268.20
LOW:180.40

UNION BANK
PAR VALUE:10.00
HIGH:87.20
LOW:72.00

AG FINANCE
PAR VALUE: 1.00
HIGH: 5.90
LOW: 3.00

BRIGHT KINDLE
PAR VALUE: 0.55
HIGH: 3.24
LOW: 1.05

BDO LEASING
PAR VALUE: 1.00
HIGH: 4.50
LOW: 3.51

COL FINANCIAL
PAR VALUE: 1.00
HIGH: 18.60
LOW: 15.00

FIRST ABACUS
PAR VALUE: 1.00
HIGH: 0.82
LOW: 0.63

FILIPINO FUND
PAR VALUE: 1.00
HIGH: 10.30
LOW: 6.55

IREMIT
PAR VALUE: 1.00
HIGH: 1.92
LOW: 1.60

MEDCO HOLDING
PAR VALUE: 1.00
HIGH: 0.87
LOW: 0.55

NTL REINSURANCE
PAR VALUE: 1.00
HIGH: 1.29
LOW: 0.70

PHIL STOCK EXCHANGE
PAR VALUE: 1.00
HIGH: 265.00
LOW: 228.00

In the formal recording of business transactions and events, it is customary to provide a guide to the accounting assistant or bookkeeper. A chart of account is prepared for the use of accounting staffs. As the accountant prepares two main accounting report, the balance sheet and income statements or statement of business operations then the accounts should be classified in the chart according to the statements wherein they appear. Thus, there are balance sheet accounts and profit and loss accounts.

In preparation of a chart of accounts covers the following: determination of what specific accounts are required and selection of appropriate and descriptive titles for the accounts.

The specific accounts required will depend on the nature of the business. The nature of the business will give an indication of the transactions to be undertaken. After the determination of what accounts are to be used, then the next step will be selection of titles descriptive enough to convey the nature of the account.

Asset titles - examples are cash, accounts receivable, notes receivable, merchandise, supplies on hand, marketable securities, land, buildings, equipment, furniture and fixtures, office equipment and etc.

Liability titles - examples are accounts payable, notes payable, taxes payable, bonds payable and etc.

Proprietorship titles - examples are Owner's capital or equities, owner's drawing etc.

Income titles - examples are sales, revenue, fees, rent income, service income, interest income and etc.

Deduction from income titles - examples are cost of sales of cost of goods sold, salaries, supplies, insurance, taxes, utilities, repairs, and etc.

The Journal
- it is the accounting book wherein the business transactions are recorded for the first time. It is also called the book of original entry. There are various kinds of journal books some are cash journal, sales journal, purchases journal, and the general journal. The number of journals to be used in every business is dictated by the size and needs of the business.

The Journal
     -the journal is the accounting book wherein the business transactions are recorded for the first time ; it is also called the book of original entry.

Advantages of the Journal
-a complete record of transactions is provide in one place.
-a chronological order of transactions and events is provided in one book
-the explanation given to each entry in the journal permits the omission of repetitive explanation in the ledger
-the use of the journal affords an easy check on the proper implementation of the rules of debit and credit
-the journal facilitates the discovery of errors

The Ledger
     -since transactions are recorded in the journal according to their dates of occurrence, items of similar nature are not grouped together. Information in the general journal is spread amount various transactions recorded. The transaction recorded in the journal are group into one account.  A group of accounts constitute a ledger.

Relationship between the journal and the ledger
-information in the journal is grouped according to transactions while in the ledger, by accounts
-information recorded in the ledger always comes from the journal
-the journal is a book of original entry while the ledger is a book of final entry
the two records are cross-referenced to each other by the use of the folio columns

What is posting?
-It is the process of transferring to the ledger the same information recorded in the journal. Debit entries in the journal are transferred to the debit side of the pertinent account in the ledger and credit entries in the journal are transferred to the credit side of the proper account in the ledger.

What is IRS form 1099?

IRS form 1099 reports income from self employment earnings, interest and dividends, government payments, and more. Form 1099 is a series of documents the Internal Revenue Service refers to as information returns. Form 1099 have different forms that report the various types of income a tax payer may receive throughout the year other than the salary the employer pays.

If you are a worker earning a salary or wage, your employer reports annual earnings at year-end on Form W-2. However, for those earnings as a self-employed or independent contractor , freelancer etc. you will receive Form 1099 MISC from each of your client.

When you own a stock investments of mutual funds, you will receive Form1099-DIV to report the dividends and other distributions that taxpayer receive during the year. For other investment that receive interest like cash in banks you will receive Form 1099-INT. Commonly it was receive from banks where you maintain your savings account.