Financial Literacy 20, 30
Course Configurations
Maintain accurate financial records.
Indicators for this outcome
| (a) | Discuss the importance of maintaining accurate personal financial records. |
| (b) | Complete a bank reconciliation form using a running balance and bank statement for various scenarios. |
| (c) | Confirm the accuracy of a bank reconciliation using a bank statement and running balance. |
| (d) | Compare how different methods of payment (e.g., debit card, credit card, mobile payment, cheque, online payment, electronic funds transfer and pre-authorized payment) affect the monitoring of one’s account balance. |
| (e) | Track financial transactions for self or for given various scenarios while maintaining a running balance and monitoring the account balance to ensure sufficient funds are available for expenditures (e.g., savings contributions, credit card payments, pre-authorized payments and unanticipated expenses). |
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