BUSINESS AND FINANCE - MONEY MATTERS
Financial matters affect every member of our society. Numerous financial decisions need to be made throughout an individual’s lifetime and many of these decisions have far-reaching consequences. The Money Matters course aims to make students financially literate by creating an understanding of the systems and processes through which financial practices and financial decision making are carried out. Financial literacy gives individuals the ability to make sound financial judgements, based on information analysis.
One of the major themes for the course is 'Income and expenses'. Students will explore the concepts of earning, spending and managing money. They will engage in learning activities involving financial goal setting, calculating income tax at different income levels and personal budgeting. Microsoft Excel will be used as a tool for keeping financial records.
The other major theme for the course is 'Growing wealth and managing debt'. Students will explore the concepts of investing and borrowing. They will engage in learning activities relating to the building of net worth, saving and investment, buying and maintaining assets, types of loans and the benefits and risks of borrowing money.
Money Matters is a worthwhile introduction to Accounting Matters and to Accounting and Finance ATAR.
BUSINESS AND FINANCE - ACCOUNTING MATTERS
Through engagement in the Accounting Matters course, students will develop an understanding of the fundamentals of accounting and financial management for business. Many students in the future will find themselves self-employed or in careers where it is imperative they understand accounting practices. Having an understanding of the systems and processes through which financial practices and decision making are carried out, enables students to analyse financial data and make informed decisions based on that analysis.
One of the major themes for the course is 'Management Accounting for Small Business'. Students will explore the concepts of predicting and planning business finances. They will engage in learning activities involving planning towards maximising profits, making product and price decisions, cost accounting, capital budgeting and cashflow budgeting. Ethical, social and environmental issues that impact on business decision making will also be investigated.
The other major theme for the course is 'Financial Accounting for Small Business'. Students will explore how to record business transactions using the double entry bookkeeping system. They will engage in learning activities involving the preparation of Income Statements, Balance Sheets, Cashflow Statements and ratio data to analyse business performance.
Accounting Matters is a worthwhile introduction to Accounting and Finance ATAR.