Title: Credit Unit 5 Introduction: (CU5 M1) Introduction to Financing
Course: SkillsCom BA 101 16.0 > Section: Credit Unit 5 Module 1

Accountants sometimes get a bad rap, but if money is the lifeblood of business, than accounting is the heart making it circulate

Post University cartoon (Dave Blazek) / CC BY-ND 3.0

Here's where we get into the numbers of business. Since one of the primary functions of a business is to make money, being savvy with the numbers is incredibly important. While we won't be getting into the really complex formulas, be warned, there will be some math in this credit unit.

In order for a business to be successful, accurate reporting of income and expenditures must occur. We'll be looking at the proper methods to report this information for financial understanding. We'll be looking at important accounting forms and different types and methods of accounting. We will also dive into financial institutions, including another look at the Federal Reserve, and we'll look at what you can do to take better control over you personal finances.

Outcomes:

- Define commonly used business and economics terminology.
- Describe the functional areas of any business organization.
- Explain revenues, expenses, and how profit is derived.
- Differentiate between objectives, strategies, tactics, and operations.
- Describe the components of a business plan.
- Prepare a basic business plan.
- Explain the importance of ethics in business.