BAFS – Accounting Module Mr. Thomas Hung

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

Overview: What is Accounting? systematic RECORDINGREPORTINGANALYSIS The systematic RECORDING, REPORTING, and ANALYSIS of financial transactions ($) of business When a transaction take place… Systematic recording… Preparing financial reports… Evaluation & Strategic planning

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

Overview: What is Accounting? BACKBONES of ALL business BACKBONES of ALL business

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

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

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

FAQs… Do I need to be EXTREMELY good at MATHS? I HATE numbers, is this going to be OK? Accounting is about numbers only?! So I do not need to study as much? Qualities for being an accounting student? Liberal arts student = not suitable? Still have questions? Come & See me!! Daddy said Accounting is NOT a subject for girls…

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