Topics covered within the programme
- Analyse the basic elements of an income and expenditure statement
- Analyse the basic elements of a balance sheet
- Compile a personal assets and liabilities statement
- Use the evidence in financial statements to make a financial decision
- Describe factors that contribute to financial risk in own life
- Explain the individual’s liabilities and duties with regard to service contracts and the use of utilities
- Investigate short-term insurance as a means of reducing financial risk in own life
- Investigate ways to reduce risk associated with accidents and medical conditions
- Explain the financial consequences of contravening the law
- The purposes of taxation with reference to its importance to a country`s economic and social well-being
- The main categories of people and entities from which the government collects taxes and an indication of the different rates applied to personal and company income tax
- The typical breakdown of a government`s main budget and spending categories
- The main emphasis in the South African Government`s current budget interpreted from reports in the media with reference to access, redress and the repayment of the national debt
- Ways in which government is attempting to improve tax collection and/or widen its tax base and an indication of the potential impact of improved and wider tax collection on both the government and the individual taxpayer
The value of this programme for learners?
The programme enables learners to understand the basics of financial statements, and the risks in their own lives, with guidance on how to prevent and minimise certain risks. It also helps learners understand personal income tax and how to apply basic principles in their daily lives.
The greater importance of this programme?
The Coronavirus has forced us to take a deep look into our lives and maintain a strict budget while avoiding certain risks that might be detriment to our finances and our family values
This course is 100% FREE and can be done by clicking on the button below.