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Related topic
Economics and Business 7-10 / Year 8 / Knowledge and understanding
Curriculum content descriptions
processes that individuals and/or businesses use to plan and budget to achieve short-term and long-term financial objectives (AC9HE8K05)
Elaborations
- identifying ways short- and long-term personal financial objectives can be achieved; for example, through developing a budget and having a savings plan
- explaining how financial records, such as income statements, balance sheets, budgets and cash flow statements, inform business decision-making
- identifying and explaining business processes that are used to manage finances and plan in the short- and long-term; for example, devising a business plan, borrowing from a financial institution, building savings by earning interest
General capabilities
ScOT terms
Financial records, Budgeting, Financial analysis, Income, Planning, Financial reports