Form 4 (Business Studies / Economics / Accounting)

Course Overview

This course introduces key concepts in Business, Economics, and Accounting. It's designed to help students explore Commerce and prepare for informed subject choices in Form 5.

Economics & Financial Literacy

• Basic economic problem: scarcity and choice
• What, how, and for whom to produce
• Economic systems
• Market Equilibrium: Demand, Supply, Equilibrium
• Human Needs and Wants
• Bartering and Exchange
• Income, Credit, Saving, Budgeting, Net Worth

Business Studies

• Purpose of business activity
• Business organization and finance
• Starting a business & types of entities
• Business objectives & the Triple/Quadruple Bottom Line

Accounting for Sole Traders

• Financial Information & its purpose
• Transactional Analysis Sheets
• General Journals & Ledgers
• Balancing ledgers (balance b/d, balance c/d)
• Account Names & Types
• Accounting Equation: A = L + Eq, expanded to D + E + A = L + Eq + I
• Debits (left): Drawings, Expenses, Assets
• Credits (right): Liabilities, Equity, Revenue
• Double entry examples: e.g. paid wages $200 cash → debit wages, credit bank

Key Reminders

• Debit increases debit accounts
• Credit increases credit accounts
• Every transaction has both a debit and a credit
• Account names reflect the nature of the transaction (e.g., fuel on credit → Fuel & Accounts Payable)