SECTION D Term plans for teaching EMS Term 2 Financial literacy Core concepts covered Unit 1:


Accounting concepts


Term 2:


Financial literacy


Unit 2:


Income and expenses


Term overview


Term 2 focuses on financial literacy. In Unit 1, Accounting concepts, learners are introduced to some basics: capital, assets, liabilities, income, expenses, profit, loss, budgets, saving, banking, financial records, and transactions. Unit 2, Income and expenses, focuses on personal income and expenses and a personal statement of net worth. Learners are introduced to different types of income and expenses and find out how businesses save and invest their income. Unit 3, Budgets, introduces learners to the concepts of budgets (personal and business), income, and expenditure.


Content Unit No. Content


1 Accounting concepts 2 Income and expenses 3 Budgets


Assessment


The following activities in this term are suitable for formal assessment: 40 Term 2: Financial literacy


9780199052050_OS_Economics_7_TG_CAPS2017.indb 40 11/29/17 9:02 AM


Pacing (Time allocation) 4 hours 6 hours 6 hours


LB page TG page 48 57 65


43 50 55


Unit 3: Budgets


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