Business, Accounting & Financial Studies

The BAFS course is aimed at equipping students with basic business knowledge and skills so that they can function successfully as consumers, investors, employees and/or entrepreneurs. It also aims at exploring different aspects of business in order to prepare students for life, for learning, for employment and/or for their business career.

Through the study of the BAFS, students will be able to develop the necessary knowledge, understand the relationships between different business areas, the dynamic environment in which a business operates, where changes influence planning and decision making, the importance of accounting in managing a business, the functions of management in formulating effective strategies for businesses, and the importance of managing personal finance.


Our Expectations

Students should develop generic skills, so that they have the ability to:

  • use information technology to locate, select, and organise relevant business information for decision-making; 

  • investigate, analyse, and evaluate business issues from a variety of perspectives;

  • communicate business information and issues effectively; and

  • work in a team situation and be able to assume a leadership role.

Students should develop positive values and attitudes, so that they may:

  • be informed, active and responsible participants in the business world;

  • be critically aware of the importance of socially responsible and ethical business behaviour; and

  • behave responsibly in controlling their personal finances.


Department Head: Mr. Dick Chan


Message from teacher:

If you wish to join a global blue chip company as a business / accounting professional or start your own business, then you should study BAFS. Studying BAFS allows you to understand the complex relationships of different business areas and gain the necessary knowledge and skills. You will learn how to apply your knowledge to the real world of business participate in different related extra-curricular activities.

BAFS places a strong emphasis on making sure that you have the basic entrepreneurial skills and knowledge that employers are looking for. When you complete the three-year BAFS course, you should be confident and comfortable in working in the commercial sector as a business or accounting professional.



The curriculum comprises two parts: the compulsory part and the elective part. The compulsory part is an introduction to a holistic view of business. The elective part offered in Tak Oi Secondary School is the Accounting Module, which covers various topics in Financial Accounting and Cost Accounting. 


The Compulsory Part

(a) Business Environment

  • Hong Kong Business Environment

  • Forms of Business Ownership

  • Business Ethics and Social Responsibility

(b) Introduction to Management

  • Management Functions

  • Effective Management

  • Key Business Functions

  • Entrepreneurship and Small and Medium Enterprise

(c) Basics of Personal Financial Management

  • Fundamentals Financial Management

  • Personal Financial Management


The Elective Part (Accounting Module)

Financial Accounting

Part 1

  • Balance Day Adjustment Relating to the Preparation of Financial Statements

  • Financial Reporting for Different Forms of Business Ownership

  • Control Systems

  • Generally Accepted Accounting Principles

Part 2

Financial Analysis

Incomplete Records


Cost Accounting

Part 1

  • Cost Classification, Concepts and Terminology

  • Breakeven analysis

  • Marginal and absorption costing

Part 2

  • Cost Accounting for decision making


BAFS Activities

The business management simulation competition organized by Hong Kong Management Association (HKMA)



Central Business Walk