You have now completed a review of the financial statements, financial ratios, and the financial transaction process. In this discussion board, you are tasked with addressing the following:

1. Identify under what circumstances might you need to apply this knowledge in the future, both from a perspective of:
   1. within your respective professions; as well as
   2. from an individual perspective?
2. Why is it important you possess at least a rudimentary understanding of accounting and being able to read financial statements, regardless of whether your profession is inside or outside of accounting/finance?