Business, Accounting & Financial Studies


Business, Accounting and Financial Studies (BAFS)


Aims and Objectives:


The aims of the BAFS curriculum are:

  • to provide students with fundamental business knowledge and skills, and develop their positive values and attitudes, so that they can fulfil their roles competently and confidently as consumers, investors, employees and/or entrepreneurs; 

  • to develop students’ generic skills in research, analysis, leadership, team-building, communication, critical thinking, creativity, and problem-solving and transfer them to different domains; and 

  • to explore different aspects of business to prepare students for life, for learning and for employment.


Curriculum Outlines:

F.3 Business Fundamentals

Part I: Introduction to Accounting

  • Explain the meaning of assets, capital and liabilities, and their relationships

  • Identify assets, capital and liabilities

  • Demonstrate how business transactions affect the accounting equation

  • Explain the meaning of double-entry bookkeeping

  • Apply the principles of double entry to the recording of business transactions


Part II: Introduction to Management

  • Understand the companies’ visions, missions and values

  • Explain the functions and importance of human resources management, financial management, operations management, marketing management and information management 

  • Explain the importance of customers to a business

  • Identify the factors that affect customer needs

  • Explain the approaches for identifying customer needs

  • Understand different pricing strategies for a product

  • Write a business proposal for mini trade fair


The senior curriculum comprises a compulsory and an elective part to strike a balance between breadth and depth in different business areas.


F.4 Accounting Module (New Syllabus)

Introduction to Business Environment

  • Hong Kong’s Business Environment

  • Forms of Business Ownership

  • Business Ethics and Social Responsibilities


Basics of Management

  • Management Functions

  • Key Business Functions 

  • Small and Medium Enterprises 


Basics of Personal Financial Management

  • Time Value of Money 

  • Consumer Credit

  • Personal Financial Planning and Investment

  • Stock Trading as an Investment


Financial Accounting

  • Purposes and Role of Accounting an Double-Entry System

  • Books of Original Entry and Types of Ledgers

  • Trial Balance and Financial Statements

  • Period-end Adjustments Relating to the Preparation of Financial Statements (I) & (II)


F.5 Accounting Module (Old Syllabus)

  • Books of Original Entry and Ledgers (I) & (II)

  • Accruals and Prepayments

  • Bad Debts and Allowance for Doubtful Accounts

  • Depreciation of Non-current Assets

  • Inventory Valuation

  • The Bank Reconciliation Statement

  • Correction of Errors (I) & (II)

  • Financial Statements for Partnerships

  • Partnership 

  • Issue of Shares and Debentures

  • Financial Statements for Limited Companies

  • Financial Analysis

  • Incomplete Records

  • Generally Accepted Accounting Principles


F.6 Accounting Module (Old Syllabus)

  • Cost Classification, Concepts and Terminology

  • Absorption Costing and Marginal Costing

  • Cost-Volume-Profit Analysis

  • Cost Accounting for Decision-making




Department Activities: 

  • JA Company Programme

  • HKFWS Financial Management Competition

  • Hong Kong Financial Literacy Championship




Hong Kong Institute of Accredited Accounting Technicians


Mandatory Provident Fund Schemes Authority


Securities and Futures Commission




Hong Kong Institute of Certified Public Accountants