ACCTG 151G Financial Literacy

ACCTG 151G | Open Schedule | Semester One 2017 | City Campus | 15 points

Description

Financial literacy is a "must include" part of everyday life. Understanding the basic principles of finance enhances people's ability to achieve their personal financial goals. This is achieved through an understanding of spending/saving/investing/risk along with the ability to read and understand financial statements.

The ability to make financial decisions and manage personal and business finances permeates all aspects of an individual’s life. Bargain shopping, buying a house, working in organisations and evaluating the impact of financial decisions form an essential lifetime competency for every person in today’s society. Life requires an understanding of how finance and financial arrangements impact on members of a society, from savings through to investment decisions.

The objective of this course is to provide a general education in the concepts and basic tools that build a foundation for financial competence.

Learning outcomes

The course will help you to:

  • Understand the financial planning process
  • Prepare budgets and evaluate and the impact they have on commercial and human behaviour
  • Understand the concept of saving
  • Understand the decision process in respect to car and housing decisions
  • Understand the components of consumer loans
  • Understand "investment", shares, bonds and managed funds
  • Analyse and interpret financial statements and explain the need for professional and ethical standards
  • Understand the impact of the Global Economy on New Zealand

Assessment

One written assignment (10%)
One online test (10%)
Mid-semester test (20%)
Final exam (60%)

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