Business Accounting Financial Studies BAFS Accounting Module Ms

Business, Accounting & Financial Studies (BAFS) Accounting Module Ms Isabella Ng

Agenda • • • Overview: WHAT is Accounting? Accounting in NSS – The Curriculum WHY study Accounting?

Overview: What is Accounting? • The systematic RECORDING, RECORDING REPORTING, REPORTING and ANALYSIS of financial transactions ($) of business When a transaction take place… Evaluation & Strategic planning Record Prepare financial statements

Overview: What is Accounting? • A “LANGUAGE of business” Tell us how well the business is performing e. g. Making a PROFIT or LOSS? Whether the business is financially HEALTHY e. g. Too much borrowings? Not enough cash? Help Formulating NEW strategies? e. g. Cut down expenses? e. g. Raise selling price?

Overview: What is Accounting? • BACKBONES of ALL business

Accounting in NSS – The Curriculum Compulsory Part 40% of the entire course Business Environment & Intro to Management Personal Finance Intro to Accounting

Accounting in NSS – The Curriculum Elective Part 60% of the entire course Introduction to Accounting fundamentals – Rules of accounting & How this “GAME” works! From Transaction Recording Preparation of financial statements Financial Accounting for different forms of business e. g. Sole trader / Partnership / Limited Company Financial Analysis & Interpretation Cost Accounting Cost Calculation & Control + Making managerial decisions

Why study “Accounting”? • To build a GOOD FOUNDATION for studying in ANY business-related subject? – E. g. Business administration, Professional Accounting etc… • Pursue a finance-related career? Being own BOSS? – Professionals: Professionals Accountant / financial controller / analyst etc… – Setting up a business may be? Who knows? • Develop a STRONG & LOGICAL business mind? – Find out the SECRETS behind the business around us?

FAQs… good at Y L E M E R T X E o I need to be MATHS? D I HATE numbers, is this going to be OK? Accounting is abo ut numbers only? ! So I do not need Qualities for being an accounting student? itable? u s t o n = t n e d u t Liberal arts s Daddy said Accounting is NOT a subject for girls… Still have questions? Come & See me!! to study as much?

~End of Sharing~ ~Thank You!~