Principles of Accounts and Elements of Business Skills

Principles of Accounts

Value of Principles of Accounts
Accounting is an information system that records and processes business transactions and communicates information to business owners and other stakeholders. This information helps them evaluate business performance and make decisions.

Through Principles of Accounts, students learn how businesses measure and communicate their activities and performance. They develop the knowledge and skills to prepare and present accounting information, as well as to interpret and use both accounting and non-accounting information for decision-making.

The subject also develops transferable skills such as organising information, analysing evidence, communicating conclusions and making reasoned decisions. Students learn the importance of integrity, objectivity and accuracy when preparing information and considering how decisions may affect different stakeholders.

Vision of Principles of Accounts
Kent Ridgeans who are meticulous and organised in preparing accurate accounting information, and confident in analysing and communicating information in a useful manner that can be understood by others.

The Principles of Accounts curriculum develops students as both preparers and users of accounting information. Students learn to record business transactions systematically, prepare and present financial information, and understand how accounting represents the activities and performance of a business.

They also learn to interpret financial statements and use relevant accounting and non-accounting information to evaluate choices and make informed decisions. Through this process, students develop a keen eye for detail and learn to be logical, methodical, consistent and accurate in their work.

Students are encouraged to consider different perspectives, reassess conclusions and communicate the reasons for their decisions clearly. The curriculum also emphasises integrity and objectivity, as stakeholders rely on accounting information when making decisions about a business.

Learning Experiences

Connecting Accounting to Business Decisions
Students learn accounting through business situations that help them understand the purpose and use of financial information.

They examine how business activities are recorded and represented in financial statements, and how stakeholders use information when making decisions. Students consider not only financial figures, but also relevant non-accounting information that may affect a business choice.

Through these situations, students learn that accounting is not only about producing accurate figures. It is also about understanding what the figures represent, evaluating their significance and communicating information in a useful manner.

Preparing and Communicating Accounting Information
Students develop foundational skills in recording transactions and preparing accounting information. They learn to organise financial information systematically and present it using accepted accounting formats.

Students also analyse the effects of business transactions and accounting adjustments on financial statements. Depending on the course taken, they may evaluate aspects of business performance such as profitability, liquidity and the efficiency of inventory and trade receivables management.

Through regular practice, students develop accuracy, consistency and attention to detail. They also learn to explain and communicate accounting information so that it can be understood and used by others.

Analysing Information and Making Decisions
Students are given opportunities to analyse information, consider alternatives and justify their decisions.

They may examine situations involving stakeholders, business performance, inventory, customers, suppliers and other business considerations. In doing so, they learn to select relevant information, consider both accounting and non-accounting factors, and evaluate the possible consequences of different choices.

These learning experiences develop critical thinking and encourage students to remain open to different perspectives before reaching a reasoned conclusion.

Enrichment and Application
To enrich their learning, students participate in interactive accounting games, enrichment programmes and accounting competitions.

These experiences provide opportunities for students to apply their knowledge in different contexts, strengthen their analytical skills and develop greater confidence and interest in accounting.

Elements of Business Skills

Value of Elements of Business Skills
Elements of Business Skills provides students with foundational business knowledge, transferable employability skills, dispositions and values that support their progression to further study and future work.

Students learn about business activities, basic marketing and customer relations within the context of Singapore’s Travel and Tourism, Hospitality and Retail industries. They examine how businesses understand and meet customers’ needs and wants, develop their marketing mix and provide quality customer service.

Through business investigations and other applied learning experiences, students gather and analyse information, consider business and customer perspectives, and make reasoned recommendations. They also develop communication, collaboration and decision-making skills, together with an enterprising mindset.

Vision of Elements of Business Skills
Kent Ridgeans who are anchored in values, with foundational business knowledge and transferable employability skills in the service industries of Travel and Tourism, Hospitality and Retail.

The Elements of Business Skills curriculum develops students’ understanding of businesses and customers in Singapore’s service industry. Students acquire foundational knowledge of business activities, basic marketing and customer relations.

They learn to understand customers’ needs and wants, examine how businesses use the marketing mix, and recognise the importance of effective communication and quality customer service. Students also investigate business situations, evaluate information and propose ways to improve marketing and customer relations.

Through these experiences, students develop an enterprising mindset and transferable skills such as communication, collaboration, self-management and decision-making. The curriculum also emphasises integrity, responsibility, respect, resilience and social awareness in business settings.

Learning Experiences

Learning Through Experience
Students learn EBS through contextualised and applied experiences that connect classroom learning with the business environment.

Learning activities may include case studies, discussions, videos, role-plays, learning trails and learning journeys. These experiences enable students to observe business practices, consider the perspectives of customers and employees, and apply business concepts to different situations.

Students are also given opportunities to reflect on their experiences and apply what they have learnt to new contexts. This experiential approach helps them make connections between business knowledge and the world around them.

Understanding Marketing and Customer Relations
Students examine how businesses identify and respond to customers’ needs and wants. They learn about target markets and the four elements of the marketing mix: product, price, place and promotion.

Students may conduct simple market surveys, organise and present the information collected, and analyse the findings to make recommendations. They also learn how verbal, non-verbal and written communication contribute to effective customer relations.

Through scenarios and role-plays, students explore how employees can provide quality service during different customer interactions.

Business Investigation
Business investigation is a key feature of EBS. Students investigate a business and gather information about its marketing mix and customer experience.

They select, interpret, analyse and evaluate information before applying their business knowledge to recommend improvements. In developing their recommendations, students consider both the needs of the business and the perspectives of its customers.

The investigation process develops information skills, critical and inventive thinking, decision-making and the purposeful use of digital tools. It also provides students with opportunities to work independently and collaboratively and to communicate their findings clearly.

Learning Beyond the Classroom
Students participate in learning trails and learning journeys that allow them to observe how businesses in the Travel and Tourism, Hospitality and Retail industries operate.

During these experiences, students examine how businesses apply the marketing mix, respond to customers’ needs and provide quality customer service. They connect their observations with concepts learnt in class and use them to support discussions, assignments and business investigations.

These experiences deepen students’ understanding of the service industry and increase their awareness of possible pathways for further study and work.