The ABM strand in its most fundamental sense refers to the accountancy, business, and management academic programs that concentrate on the foundational concepts in corporate operations, financial management, business management, as well as each and every factor that revolves around those central fields.
The ABM strand can take you on a direct path to careers in accounting and management: sales management, human resources, marketing director, bookkeeper, project officer, accounting clerk, internal auditor, and many more.
The ABM strand curriculum opens the avenues for you to gain a more nuanced appreciation of the intrinsic elements that make up the world of accounting and business management courses in the Philippines without having to dive deeper into the specialized complexities of mathematical fields such as algebra, geometry, trigonometry, and others.
The subjects involved in the ABM strand are designed and crafted for you develop the appropriate tools that you are going to utilize all throughout your journey in the corporate world. You should expect to be immersed in studying management and financial accounting along with the business, legal, and organizational contexts that you would be working with as you go along your road in a professional enterprise.
By taking the ABM strand you will be trained to analyze assets, understand everything involved with financial positions, interpret various profitability, and prepare audit accounts.
Studying accountancy does not necessarily entail that you are limited to just being an accountant. You are opening the gate for wonderful careers as an: accounts payable clerk, bookkeeper, chief financial officer, budget analyst, internal auditor, and many others.
You can get on the track to the corporate settings of an administrative assistant, loan officer, community service manager, market research analyst, financial advisor, statistician, etc.
This generally refers to agriculture-related endeavors that align farmers, distributors, and even consumers with a market system for agricultural products. The Department of Trade and Industry is always in the course of developing the industry of agricultural farming into a thriving business-driven sector.
When it comes to getting a good grasp of the ABM Strand, you have to first get acquainted with the two central and all-encompassing fields involved. Let’s take a comprehensive look at all the factors that come into play within the cornerstones of the ABM Strand:
Business administration in its most basic definition is the management of a business. It involves each and every aspect of both overseeing and supervising business operations and all its related fields: accounting, finance, and marketing.
The administration of a business is a process that involves both the management and performance of business operations and all the necessary decision making, as well as the efficiency and effectivity of organizing people and resources as to direct activities towards tangible objective and goals.
In general terms, business administration pertains to the broader management function which includes all the associated finance, personnel, and MIS services.
A person working as a business administrator is in charge of overseeing a business and its operations. The central aim of the job is to ensure that a particular business is properly organized, managed, and meets its goals.
The tasks that a person in this position has are varied and immense in wideness. These often involve overseeing daily operations, making plans for the success of the business, and ensuring that the right staff members are hired and adeptly trained. When organizational changes are necessary, a business administrator paves the way for taking the right measures.
There are some cases wherein a person who starts and owns a business also functions as its central administrator, but this is not always the case; companies often times hire an individual for the administrative job. A person that works as a business administrator essentially functions as the manager of a company and even of its other manager. This person monitors those in managerial positions as to secure that they adhere to the company’s policies and efficiently work towards the company’s goals.
Business administrators may also work alongside with the managers solely directed for human resources, finance, accounting, marketing, production departments as to make sure that they are focused and working in-line towards the company’s objectives. Also, business administrators might interact and communicate with people outside the company, such as business partners, vendors, etc.
Accounting is a field that has to do with the measurement, processing, and relaying of financial information with regards to economic entities, such as corporations and businesses. The accounting field has been called the “language of business” because it measures and facilitates the results of an organization’s economic activities.
Practitioners of accounting are known as “accountants”. Another term synonymous with accounting is “financial reporting”.
Modern accounting has been defined as the keeping and preparing of an entity’s financial records. The main job of a professional accountant mainly involves the verification and analysis of such records through the fundamental principles and procedures of accounting.
Let’s explore the main fields in accounting:
Financial accounting centers on the reporting of an organization’s financial information for creditors, investors, and potential investors. It involves the calculation and recording of business transactions as to prepare financial statements for said external users in accordance with the GAAP or Generally Accepted Accounting Principles.
Management accounting is focused on the measurement, analysis, and reporting of information as to assist managers in making the right decisions that are geared towards the fulfillment of an organization’s main objectives and goals.
In the field of management accounting, internal reports are based on cost-benefit analysis, and are not required to adhere to the GAAP.
Auditing is basically the verification of assertions that were made by others with regards to payoffs. In the field of accounting, this refers to the unbiased examination and evaluation of an organization’s financial statements. An audit is a professional service that is conventional and systematic.
Accounting information systems are an integral part of an organization or company’s overall information system that is centered on processing its accounting data. There are many corporations that utilize artificial intelligence-based information systems.
The banking and finance industry uses artificial intelligence for customer services and is also used for cybersecurity. Accounting information systems utilize both computer hardware and software systems for statistics and modeling.
Corporate and personal income are taxed at varying rates, both in accordance with income levels with different marginal rates. Tax accounting generally concerns the recording, examination, and analysis of an individual or company’s tax rates and their adherence to tax policies.
As mentioned earlier, the ABM strand generally has three main specifications: Accounting, Business, and Management. First and foremost, taking the ABM Strand track will allow you many opportunities to start and run your own business. You will be trained in practicing proper time management and develop many other skills that are going to be applicable for almost any career path that you choose to pursue.
While taking the ABM Strand track, you are going to learn how to communicate with different types of people. Running a business involves clear and concise communication. You will learn to adapt to the communication skills that are required for various business courses.
Accounting is an integral part of this track. By getting attune to the critical principles of how the exchange of money actually works and the foundational mathematical syllogisms that makeup accounting theory, you are going to learn how to properly handle a business and your own finances.
Running your own successful business is impossible to be achieved all on your own. There is a crucial team dynamic that comes into play with all business operations regardless of size, scale, and scope. Not only will your communication skills be used, your leadership skills will also be practiced and honed.
Logical prowess is crucial for any business operation. With the ABM Strand track, your reasoning skills are going to get sharpened to their fullest potential. This is one of the most necessary skill sets that you are going to master while studying the fields of business, finance, and accounting.
Objectively speaking, this is arguably one of the greatest skills that you could have, especially as you begin your journey in higher education. You are going to learn how to budget and allocate your time in such a way that everything will be efficient, effective, and simple. With the required workload, you are going to go through with the ABM strand, your time management skills will be practiced to near perfection.
The ABM Strand program offers a multitude of opportunities and direct career paths that can propel you into both personal and professional success. As previously mentioned, studying under the ABM Strand will cover the fundamentals of accounting, finance, management, and even entrepreneurship. These are the key arenas for making any business thrive.
But besides the direct careers in accounting, management, and finance, there are many other common career paths that you can pursue under the ABM Strand:
There’s a lot more that goes into retail and sales than just simple shelf-stacking. If have successfully undergone the ABM Strand, opportunities within sales and retail teams in absolute abundance. Whether its shop-based roles, office-based roles, or traveling positions, an impeccable knowledge and understanding of the global market is crucial.
It may seem as though the ABM Strand track is not such a creative pursuit, but the truth is that there are many colorful pathways that the ABM Strand can open up for you to entering the many creative industries. Media industries such as TV, film, the digital sphere, print media, etc. is always in need of individuals with a strong handle on sales, human resources, public relations, finance, accounting, operations, marketing, etc.
Jumping off from the previous point, career opportunities in both marketing and advertising are aplenty for those under the ABM Strand. In these industries, the knowledge that you gain from taking the ABM Strand will equip you with the skills and information necessary to conduct market research, develop advertising strategies, manage client relationships, coordinate with copywriters, producers, and designers, analyze market trends, and evaluate results.
Human resources offer roles that require both efficient business prowess and highly effective interpersonal skills. Company matters such as recruitment, training, and pay are all the foregrounding areas that are handled by the human resources department.
So it goes without saying that impeccable communication skills are essential. However, you are also going to be expected to have a good understanding of business management and operations because one of the primary roles in the human resources department is exemplary knowledge of employment laws and company regulations.
Enderun Colleges is an undergraduate college and entrepreneurship school in the Philippines that is committed to the highest international standards for excellence in education and training. Enderun Colleges’ curriculum is designed by experts in global business and leading figures in the hospitality industry.
The approach that Enderun Colleges has developed for education is unique and highly specialized for excellence. As a management school, Enderun Colleges fully equips and prepares its students with all the knowledge and tools necessary for becoming a world-class leader. The students work closely with faculty mentors, who are highly reputable in their industry’s world stage.
The students of Enderun Colleges also have access to worldwide experience with everything from intensive working internships both in the Philippines as well as abroad. Enderun Colleges’ campus facilities are nothing short of the highest quality. The hotel-quality appointments and integrated learning technologies are of the highest tier and conform to only the best in the world.
Enderun Colleges ultimately aims to impart the professional competencies, character, and specialized skill sets required for success in today’s rapidly moving world. Enderun Colleges’ value-centered and practical academic programs are harnessed within an internationalist environment.
Click here to learn more about Enderun Colleges and the excellence of our ABM strand program.