ACHASSK200

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

Elaborations

• explaining the need for setting short- and long-term personal financial objectives and prioritising personal financial responsibilities and needs over wants (Skills: Literacy, Numeracy, Critical and Creative Thinking, Personal and Social Capability, Ethical Understanding)
• identifying ways short- and long-term personal financial objectives can be achieved (for example, through developing a budget and having a savings plan) (Skills: Literacy, Numeracy, Critical and Creative Thinking, Personal and Social Capability)
• explaining how financial records (for example, income statements, balance sheets, budgets and cash flow statements) inform business decision-making (Skills: Literacy, Numeracy, Critical and Creative Thinking)
• 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) (Skills: Literacy, Numeracy, Critical and Creative Thinking)

(View this topic on www.australiancurriculum.edu.au )