Agenda Overview: WHAT is Accounting?

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Presentation transcript:

Business, Accounting & Financial Studies (BAFS) Accounting Module Ms Isabella Ng

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

Overview: What is Accounting? The systematic RECORDING, REPORTING, and ANALYSIS of financial transactions ($) of business Record When a transaction take place… Prepare financial statements Evaluation & Strategic planning

Overview: What is Accounting? A “LANGUAGE of business” Tell us how well the business is performing e.g. Making a PROFIT or LOSS? 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?

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

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

FAQs… Still have questions? Come & See me!! 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? Daddy said Accounting is NOT a subject for girls… Still have questions? Come & See me!!

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