Business, Accounting and Financial Studies

Introduction

BAFS, as the name suggests, consists of three main components: Business, Accounting, and Financial Studies. The Business component focuses on Hong Kong enterprises, ranging from small businesses like bakeries and local food stalls to large multinational corporations. It involves studying different business models and acquiring knowledge primarily in written form.
The Accounting component involves learning how to calculate a company’s annual profit or loss, as well as understanding its assets. Students learn how to manage and record a company’s financial transactions and activities.
The Financial Studies component covers topics such as calculating various ratios related to accounting, such as cost of goods, selling prices, and markup percentages. This part allows students to gain a comprehensive understanding of financial management related to accounting.
In summary, BAFS provides a comprehensive study of various aspects of business management, including understanding different business models and acquiring financial management skills. This subject helps develop business awareness and a deeper understanding of how businesses operate.