Why is accounting important in business

[Sheun450]

In short, accounting shows you exactly what your business has been up to when it comes to finances. It keeps you organized so you can accurately and legally fill out your tax return, which we 'll talk ...

Post automatically merged: Feb 8, 2021

In short, accounting shows you exactly what your business has been up to when it comes to finances. It keeps you organized so you can accurately and legally fill out your tax return, which we 'll talk ...

 

[Waseem74]

plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions

 

[Jomarie05]

Accounting is very important in business, either the business is small or big it needs proper daily accounting in other for the business to have fucus. If there is no accounting in any business, that business may run into depth, all business needs accounting in other for it to run smoothly.

 

[Presh1503]

Accounting is vet important in every business no matter which type it is because accounting shows the day to day records of the business and also shows whether the business is progressing or not
Accounting also shows whether the business is running on profit or loss

 

[Mostee501]

Accounting is an important part of a business, without keeping records of any transactions or stock taking, the business will be of no direction. So if you have a business and the don't know how to handle the accounting aspects,hire an expert.

 

[Bookwormlux]

With a honest accounting details, it is very easy for the manager to understand when some members of the organization are not remitting up to the amount he expects of them. He can now decide to do away with them.

 

[Folaham]

Accounting is very important in business because without giving account of business it can not function very well,in business you need account to no if you gain or lose,also in business you need to know if you are not losing because losing is not good, business without profit is useless

Accountability is very vital in business and this starts from the simplest of record keeping. Inability to keep proper accounting record will be disastrous for any business owner.
Poor financial management is the major reasons most business fail and this also can be accounted for under lack of knowledge required to sustain a business

 

[Anas Chaudhary]

Accounting plays an important role in running a business because it helps you track revenue and expenses, ensure compliance, and provide quantitative financial information to investors, management, and the government that make business decisions. Can be used.

 

[Husnainali]

The importance of accounting in a business organization - iEduNote
Accounting prevents misuse of assets, increases productivity and profitability, controls costs, and helps increase overall management efficiency. The role of ..

 

[Abisola]

Why Is Accounting Important? Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions

 

[Olahab]

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.

 

[Ausaf Ali]

Accoutning is the most important in any small or medium sized business deal with your customers. Small business should be posible to the point of profit ratio check on daily basis with accoting software and manufacturing processes to provide following information about them.

 

[Mastercoded]

Good account keeps a business going. How do you monitor profit and loss, how do you monitor inventory and stock, how do you know what you pay your staff. Just get an expert in the field and watch your business flourish to greater height, but sure the person is a trusted individual or watch all your investment go down the drain..

 

[Edward2]

You're planning ahead financially because of accounting, and the main aim is a stable financial future. Accountants also work consistently to protect and expand the financial health of organizations. Just a few main principles in financial planning are finances, savings objectives, research, debt management and profitability.

 

[Victor001]

Accounting is very important in business because without giving account of business it can not function very well,in business you need account to no if you gain or lose,also in business you need to know if you are not losing because losing is not good, business without profit is useless

Irrespective of the discipline or organization,the need for accounting cannot be over emphasize.analysis,income and daily activities needs proper documentation.keeping details of output and input. Is important.

 

[Afrinish]

Accounting is important for small business owners as it helps the owners, managers, investors and other stakeholders in the business evaluate the financial performance of the business. Accounting provides vital information regarding cost and earnings, profit and loss, liabilities and assets for decision making, planning and controlling processes within a business.
The main objective of accounting is to record financial

 

[Kiwi]

Accounting shows you exactly what your business has been up to when it comes to finances. It keeps you organized so you can accurately and legally fill out your tax return, which we’ll talk about next. If there is no accounting in any business, that business may run into depth, all business needs accounting in other for it to run smoothly.

 

[Johnbami]

accounting is very essential in the business world because without accounting and finance how would you be able to know the monthly income I'll be able to get the amount of money you spent on ads or the amount of money to spend on things

 

[Sotherefore]

accounting is very important in any business organisation because it is true accounting that you have an idea of the input or the inflow of customers or services of an organisation and I can also show the level of demand and supply in a particular business or organisation.

Post automatically merged: Feb 8, 2021

accounting is very important in any business organisation because it is true accounting that you have an idea of the input or the inflow of customers or services of an organisation and I can also show the level of demand and supply in a particular business or organisation.

 

[Judee201]

All growing business can use the help of a good local accountant. A good accountant who has a great knowledge about the accounting profession can help you in putting into place a good bookkeeping system. Every single business needs some sort of accounting system for its daily operation, so it’s very important to choose wisely when you want to hire an accountant; otherwise, their finances can get away from them.