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текст з - English

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  • a.
  • What is accounting and how does it help you manage your personal finances?
  • By definition, accounting is the recording, storing, sorting, retrieving and summarizing of financial transactions.
    • The financial information presented in reports, statements, and sheets allow us to analyze and draw conclusions about how profitable our investments were, self-sustainable were our assets or rational were financial decisions we made, and even make predictions about our future financial status.
    • Accounting mostly associated with companies, but many individuals can also benefit from applying it to their personal finances.
  • Accounting is an essential part of any business and it helps companies all over the world with cost planning decision making.
    • Accounting can help us to manage personal finances on multiple levels.
    • For example, applying basic accounting principles toward our personal finances we can not only understand our comings and goings but also predict them in order to achieve our personal financial goals and objectives.
    • Having a clear picture of our overall finances can help us to make decisions on how and where we could cut back our expenses, when and in what better to invest.

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