Financial Literacy and Decision Making

This unit provides a basis for further accounting studies, while meeting the needs of students interested in pursuing studies in other areas of business. The unit introduces students to basic accounting concepts and selected accounting practices and to the role of, and the processes involved in, planning and decision making within the business environment. Students will begin to investigate the roles of accounting and management planning for supporting organisational decision making. To undertake this investigation, students will begin to integrate principles and key professional practices of accounting concepts; cash and accrual accounting; preparation of financial statements; and forms of business ownership. Students will learn how to make informed judgements and effective decisions around managing money, including digital currencies, in the Financial Literacy and Decision Making unit. They will enhance their financial literacy with key budgeting, reporting and analytical knowledge.

Learning Outcomes

On successful completion of this unit, students will be able to:

1. Review different types of decisions relevant to maximising business performance and personal wealth;
2. Articulate and apply knowledge of key accounting and finance concepts when analysing and interpreting financial reports;
3. Evaluate new trends in financial markets and instruments to analyse the operations of financial system; and,
4. Analyse financial information using spreadsheet skills and professionally communicate such information to interested parties.