In the text box below, make some notes in answer to the following question: What is the main purpose of accounting and finance in a business?

If you are unfamiliar with accounting in business, this may seem like a difficult question to start with. It may help to imagine an individual (perhaps even yourself) as a business: it is likely that you have an income, some expenses and a bank account. Perhaps you have an overdraft or credit card debt. What information would you need to know to keep on top of your finances? The answers will be very similar to those relating to any business.