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Discipline encompasses attributes such as self-control, consistency, and resilience. It involves the ability to set goals and adhere to a structured plan, even in the face of challenges. Discipline also requires focus and determination, enabling individuals to prioritize long-term outcomes over short-term gratification. Additionally, it fosters accountability and the capacity to learn from mistakes.

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2mo ago

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Why is important to have financial discipline?

It is important to have financial discipline if you want to put your expenditure under check.


Why is accounting a discipline?

Accounting is considered a discipline because it involves a systematic body of knowledge and practices that govern financial reporting, measurement, and analysis. It relies on established principles and standards, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), to ensure accuracy, transparency, and consistency in financial information. Additionally, accounting encompasses various subfields, including managerial, financial, and tax accounting, each with its own set of methodologies and applications, further solidifying its status as a distinct academic and professional discipline.


Why is discipline important when using the envelope method for managing your cash expense?

Discipline is crucial when using the envelope method for managing cash expenses because it ensures that you stick to your predetermined budget for each category. Without discipline, there's a risk of dipping into funds allocated for other purposes, leading to overspending and financial instability. Maintaining strict adherence to the envelopes helps reinforce good spending habits and accountability, ultimately aiding in achieving your financial goals. This disciplined approach fosters better control over your finances and helps prevent impulsive purchases.


Objective of financial management?

Financial management is a discipline that allows manages and others to be more in control of their finances. They get to learn how to invest and make profits.


Accounting is an art and also a science discuss?

Accountants using theories and methodologies of the discipline making it a science. They are also creative and think critically, making it an art.

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