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Quarter 2 - Module 9

This module covers implementing a business plan by operating the business, selling products, and keeping business records. It discusses the basic requirements for starting a business in the Philippines like registering with the SEC, DTI, and BIR. Maintaining good record keeping is also emphasized as it allows businesses to plan efficiently, meet legal requirements, measure profits, and protect their rights.

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35 views11 pages

Quarter 2 - Module 9

This module covers implementing a business plan by operating the business, selling products, and keeping business records. It discusses the basic requirements for starting a business in the Philippines like registering with the SEC, DTI, and BIR. Maintaining good record keeping is also emphasized as it allows businesses to plan efficiently, meet legal requirements, measure profits, and protect their rights.

Uploaded by

Hanna Dlsm
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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QUARTER 2 – MODULE 9

Business Implementation
Group 4
THIS MODULE COVERS LEARNING COMPETENCIES:

• Implementing the business plan


• Operating the business
• Selling the product
• Identifying reasons for keeping business records
PRE TEST
Instruction: Read the statements carefully then write True if the statement is
correct & write False if you think the answer is not correct.
• 1. You go to the office of the Department of Industry (DTI) if you will The office to visit when registering your corporation business.
• 2.The office to visit when registering your solely owned business is Securities and Exchange Commission (SEC)
• 3. You go to the Bureau of Internal Revenue when you get Tax Identification Number (TIN)
• 4. Employers are the only one to pay contribution at the Social Security System(SSS)
• 5. You cannot start your business without a consultant.
• 6. Record keeping is not necessary in business operation.
• 7. Record keeping is beneficial to the owner.
• 8. the objective of the businessman should be clear.
• 9. Tasks before starting the business should have a time allotment.
• 10. Records are sources of documents.
• 11.Professional advices is necessary before starting the business
• 12. Professional advice is not needed during the business operation
• 13. Bookkeeping is only important to the accountant Record keeping can measure the profit and performance of the enterprise
• 14. Record keeping can measure the profit and performance of the enterprise.
• 15. Recordkeeping can be both physical and electronics.
GUIDELINES FOR SUCCESSFUL BUSINESS PLAN IMPLEMENTATION:

• Objective – the entrepreneur should have a clear idea of what is his purpose for
putting up his enterprise.
• Tasks – this means that the entrepreneur must know what tasks he has to
perform in order that his objective will be realized.
• Time allocation – This means that the entrepreneur should have a timetable or a
schedule to follow every task so that it will be accomplished on time and realize
his objective.
• Progress- This means that the entrepreneur should monitor the development of
the tasks and the accomplishment of the objective.
THE FOLLOWING ARE THE BASIC REQUIREMENTS TO START A
BUSINESS IN THE PHILIPPINES:

• Securities and exchange Commission (SEC)


Registration – for partnership or corporation.
• Department of Trade and Industry (DTI)
Registration – for your business tradename.
• Mayor’s Business Permit – for getting the license to operate in the city or municipality
and payment of your local business taxes.
• Bureau of Internal revenue (BIR) Registration – for getting TIN, official receipts and
invoices, registering your books of accounts, and paying your national Internal Revenue
taxes.
• SSS, PhilHealth, and Pag-ibig Fund registration – for registering yourself or your company
as an employer and remitting your employees contribution with your employer’s share.
KEEPING BUSINESS RECORDS

Good record-keeping can help protect the business, measure performance,


and maximize profit.
Records are the source documents, both physical and electronic, that
specific transaction dates and amounts, legal agreements, and private
customer and business details. Developing a system to log, store and
dispose of records can benefit the business. A systematic recording allows
you to;

A. Plan and work more efficiently


B. B. Meet legal and tax requirements
C. C. Measure profit and performance
D. D. Protect your rights, and E. Manage potential risks
TRY TO LOOK AROUND IN YOUR COMMUNITY AND IDENTIFY THE
THREE (3) OLDEST EXISTING BUSINESSES AND FIND TIME TO ASK THE
OWNER HOW THEY STARTED THEIR BUSINESS AND SUSTAIN IT UNTIL
TODAY.
ASSESSMENT

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