Record keeping: Ledger, income statement, balance sheet, assets and liabilities, analysis of simple financial statements; Interest: simple and compound interests, calculation of discounts and commissions, depreciation, future value of an investment (FV), annuities; Budgeting: personal and simple budgets, financial projections, simple investment analysis, cost of capital, working capital expenditure, balance of payments, balance of trade, Gross national product (GNP), Gross domestic product (GDP); Index numbers; meaning of index number, price relative index, types of index numbers, calculation of index numbers, uses of index numbers; Taxation: purpose, types of taxes, calculation of personal income tax,. Value added tax (VAT), Stock exchange: shares, bond, stock market, share valuation.