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