AP®︎ Business with Personal Finance Unit 3: Notes & Study Guide
Prepare for your quiz, test, or the AP exam with a comprehensive review on Unit 3 of AP Business with Personal Finance – Personal Saving and Borrowing; Business Finance and Accounting.
Unit 3: Personal Saving and Borrowing; Business Finance and Accounting
Part 1: how individuals save, borrow, and manage credit and debt. Part 2: how businesses estimate costs, raise capital, and report results on the income statement, balance sheet, and cash flow statement.
Begin with Topic 3.1: Saving for Future Purchas...To review Unit 3, go through each of the 9 topics below.
Everything you actually need to know for your Unit 3 test, pulled directly from the AP® Business with Personal Finance curriculum.
Saving for Future Purchases
Saving for Future Purchases
- What Saving Is
- Saving Incentives and Barriers
- PESTEL Factors That Affect Saving
Borrowing, Credit, and Debt
Borrowing, Credit, and Debt
- What Borrowing and Credit Are
- Sources and Types of Consumer Credit
- How Lenders Judge Creditworthiness
Accounting and Financial Management
Accounting and Financial Management
- What Financial Data Shows
- Recording and Reporting Financial Information
- Why Businesses and Consumers Track Financial Data
Business Expenses
Business Expenses
- What Business Expenses Are
- Startup Costs
- Recurring Costs and How to Classify Them
Financial Capital
Financial Capital
- What Financial Capital Is and Why Businesses Need It
- Main Sources of Financial Capital
- What Lenders and Investors Get Back
The Income Statement
The Income Statement
- What an Income Statement Shows
- The Income Statement Formula Path
- Profit Margins and How to Read Performance
The Balance Sheet and Net Worth
The Balance Sheet and Net Worth
- What a Balance Sheet Shows
- The Parts of a Balance Sheet
- How Balance Sheets Change and How to Read Them
The Cash Flow Statement
The Cash Flow Statement
- What the Cash Flow Statement Shows
- Cash Inflows and Cash Outflows
- Operating, Investing, and Financing Activities
Ethics and Financial Reporting
Ethics and Financial Reporting
- What ethical financial management and reporting are
- Major unethical financial practices
- Why people and businesses do it
Notes
1 credit used · 5/5 remaining