LESSON 22.1 Overview
INQUIRY QUESTION Why is financial planning, including budgeting and achieving personal financial objectives, important? What financial decisions are businesses making? And how do they respond to a changing market? This topic examines financial planning from both a personal and business perspective. Learning how to budget is a crucial skill that makes sure spending does not go over the amount of money coming in. Effective budgeting involves tracking income, categorising expenses, and setting future financial goals. For businesses, understanding how to calculate profit and loss is essential. This process involves assessing revenues, deducting expenses, and determining net income. Accurate profit and loss calculations help businesses to survive. Business survival is also dependent on how business owners respond to a changing market. This topic will consider some different approaches to making the most of the business opportunities available.
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626 Jacaranda Humanities Alive 8 Victorian Curriculum Third Edition
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