Why is accounting important in business

[Setho]

When you create a business, it is basically so that you can create profits and with the look of things, you should be able to manage accounts very well to know if the business is moving well or not and the areas that need attention.

 

[Cash%]

Accounting is very important in the business because it helps to determine the financial capabilities of the business before any thing else

 

[joy101]

For one to know if he/her business is growing you to have your checkbook, it is very important to have accounting book for the betterment of the business.

 

[Cash%]

For one to know if he/her business is growing you to have your checkbook, it is very important to have accounting book for the betterment of the business.

Having a checkbook is the best thing to have ,because you can easily record and know if your business is truly making profit or just loss

Post automatically merged: May 3, 2021

For one to know if he/her business is growing you to have your checkbook, it is very important to have accounting book for the betterment of the business.

Having a checkbook is the best thing to have ,because you can easily record and know if your business is truly making profit or just loss

 

[Setfragil]

Accounting records is very important in business. It helps to keep tag of our daily business activities which helps in planning our business. Without a good accounting records, the business daily activities will be difficult to know.

 

[Eodine]

Accounting Is very important in a business because without accounting analysis business will not be in a good shape. Accounting helps to track income and expenditure of the business. With the help of accounting financial breakdown it gives information to help the business financial state

One of the many importance of account is financial statement which is necessary for auditors to be able to decide the profitability of the company and how to present it to the management.

 

[Patrik]

because it always help you keep tracking of the performance of your business, also helps you to protect yourself when it comes to legal things such as taxes etc...

 

[Shigobad2020]

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

Accounting is simply important in a business in order to keep tracks of financial record of an institution, you need yo know the money coming in and going out in order to know if you are gaining or loosing in your business.

 

[Kelly5]

Accounting is very important in any business you can think of, there is no gainsaying about it. If you don't have a prior knowledge of this accounting, you can at least get a basic background on it for yourself to come handy in your business dealings

 

[Spicywilfred]

The importance of accounting in a business cannot be over emphasized. Like you said running accounts in a business helps you know if there is profit or loss and also it builds the business by knowing if it is ready for expansion or not.

 

[Sheyemanu]

Why is accounting important in business? Are you for real though? I didn't think anyone should ask this question about why accounting is important in business as the importance cannot be overstated, it helps you to have a view of the business's finance

 

[Maphalle]

Wherever money is involved, accounting is important. You need to know where your came from end where it's going. Without accountability of funds the business is doomed.

 

[Prettyjanie]

Accounting is very important in business, it helps you know your financial progress report. So if you are not skilled in that aspect, it's good you consult an accountant.

 

[Good-Person]

In simple words, accounting is neccessary for any business due to the fact that accounting makes it possible to track financial transactions, expenses, and overall income. All people rely on accounting no mmater how big or small his or her business is. Even online earners rely on accounting and keeping track of their earnings.

 

[babdud02]

Accountants are very important for any business growing and want to be steady.They will make you focus well on your business and you will be sure of the next step to take

 

[Ub40]

From the knowledge I have about accounting, I can comfortably say that the role of accounting in any business can not be overemphasized. This is because it is through this platform that the business owner can plot profit and loss account which is very essential. That is my opinion.

 

[Haveit]

Many people believe that accounting is just debit and credit but it is really more than that, you have to be really sure and see that accounting can be complex and differ from different financial institutions.

 

[eLdavis]

One major reason why we start a business or go into a business is to make money. Now how can you determine which is your profit and which should go back into the business without accounting? Or how do you know if you are actually making progress In the business in general without accounting?

 

[Kelly5]

The need for proper accounting is very important in our businesses because it helps us to keep our affairs of the business in check as to whether we are making profits or loses

 

[Shigobad2020]

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

I beleieve I there's no account in business world, many business would have been crumbled , if there's acvount in business , the owner will know if he's making profit or loss, and he will know the amount of money coming into the company and Going out.