Title: Maintain accurate records using generally accepted accounting principles (GAAP).
Course: Agricultural Business Management III (18201-36) > Section: Managing Financial Records and Reports

Maintenance should include

- keeping track of week/month transactions
- keeping a chart of income and expenses
- listing daily and weekly activities
- using accounting software
- comparing the features of available accounting software packages.

Process/Skill Questions:

- Why is it important to have a list of daily and weekly activities as part of one’s records?
- What are the benefits of accurate records?
- When should one record transactions?
- How might accurate records be used in filing taxes?
- How might inaccurate records affect a business?
- What are some available accounting software options?
- What are the benefits and drawbacks of the various software options?