General Unit 1 G1ACF – Personal Finance
The focus for this unit is personal finance. Concepts, principles and terminology used in financial decision making on a personal basis is explored. We look at main institutions that operate in financial markets and how governments and other bodies can affect the way individuals and groups make financial decision. The main financial documents and reports used in personal financial transactions and decision making are studied.
This unit explores the fundamental accounting and financial principles and how these principles are applied in a small cash entity. We look at the financial institutions that a small cash entity deals with and government and other community bodies that influence decision-making within the small cash entity. The main financial documents used daily in a small cash entity and reports generated at the end of the reporting period are studied.
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