Question: Every business or organization must utilize accounting to record, summarize and report business transactions. While the focus in this course is the use of accounting within a business, the same concepts can be used on a personal level.
1. How can you use accounting to manage your personal finances?
2. What are the benefits of keeping track of personal transactions - income and expenses - in an organized manner?
3. What are some of the possible risks if you don't keep track of personal transactions?