HKFYG Lee Shau Kee College

Wis­dom in Action

Business, Accounting & Financial Studies (BAFS)



Aims & Objectives:


The overall aims of the Business, Accounting and Financial Studies (BAFS) curriculum are:


  • to provide students at senior secondary level with fundamental business knowledge and skills, and develop their positive values and attitudes, so that they can fulfill their roles competently and confidently as consumers, investors, employees and/or entrepreneurs;
  • to develop students’ generic skills in research, analysis, leadership, team-building, communication, critical thinking, creativity, and problem-solving and transfer them to different domains; and
  • to explore different aspects of business to prepare students for life, for learning and for employment.


The following points would be considered in the teaching of this subject:


  • by insisting upon high standards of accuracy, handwriting, figuring and tidiness
  • by treating the subject as a mental disciples
  • by relating the subject  to other subjects, especially Liberal Studies, Mathematics & English


Teaching Syllabus:


1. The compulsory part of the BAFS curriculum covers four main areas: Business Environment, Introduction to Management, Introduction to Accounting and Basics of Personal Financial Management.


  1. 2. The elective part, which builds upon the knowledge and skills in the compulsory part, provides students with an opportunity to pursue a more in-depth study in a focused area. Students can choose either Accounting or Business Management.





Business Environment:

  • Hong Kong Business Environment
  • Forms of Business Ownership
  • Business Ethics and Social Responsibilities

Introduction to Management:

  • Management Functions
  • Effective Management
  • Key Business Functions
  • Entrepreneurship and Small and Medium Enterprises (SMEs) Management

Introduction to Accounting:

  • Purposes and the Changing Role of Accounting
  • Uses of Financial Statements
  • Accounting Principles and Conventions
  • The Accounting Cycle

Basics of Personal Financial Management:

  • Fundamentals of Financial Management
  • Personal Financial Management

*Financial Accounting:

  • Balancing Day Adjustments Relating to the Preparation of Financial Statements
  • Control Systems


*Financial Accounting:

  • Financial Reporting for Different Forms of Business Ownership
  • Generally Accepted Accounting Principles
  • Financial Analysis (Included Introduction to Accounting: the Basic Ratio Analysis)
  • Incomplete Records
  • Ethical Issues in Accounting


*Cost Accounting:

  • Cost Classification, Concepts and Terminology
  • Job Costing
  • Marginal and Absorption Costing
  • Cost Accounting for Decision-making

*Financial Accounting:

  • Information and Communication Technology (ICT) Applications in Accounting