F3: 4 classes of Business Fundamentals

Business Fundamentals

Personal Finance & Introduction of Accounting
- Explain how to make wise consumption decisions.
- Explain what people should pay attention to when borrowing money
(e.g. using a credit card)
- Explain the meaning of assets, capital and liabilities, and their relationships
- Identify assets, capital and liabilities
- Demonstrating 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