Economics and business / Year 7 / Economics and Business Knowledge and Understanding

Curriculum content descriptions

Why and how individuals and businesses plan to achieve short-term and long-term personal, organisational and financial objectives (ACHEK018)

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 the need for setting short- and long-term personal financial objectives and prioritising personal financial responsibilities and needs over wants
  • explaining how financial records such as income statements, balance sheets, budgets and cash flow statements inform business decision-making
  • exploring ways that businesses manage finances and plan in the short- and long-term to achieve organisational and financial objectives (for example, by developing a business plan or borrowing to invest in the business)
General capabilities
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • Personal and social capability Personal and social capability
ScOT terms

Personal finance,  Financial records,  Financial analysis,  Planning,  Financial reports

Refine by resource type

Refine by year level


Refine by learning area


Refine by topic

Related topic
Online

MoneySmart: How teachers can use MoneySmart

This MoneySmart web page is designed to enable teachers to get the most out of ASIC's MoneySmart Teaching program and resources. It guides teachers on where to find information on being a MoneySmart teacher, professional development for teachers, primary and secondary teaching resources, and tips and tools to help with ...