Why is accounting important in business

[YERUS]

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

Yes. Accounting is a very important important part of every business.
It keeps your business in check; makes you as the business owner know if you are making profits or incurring losses. Every business owner should know accounting.

 

[Sotherefore]

accounting is very important and Without accounting the following might be impossible
1) proper record-keeping of loss and Gain : : yes it is with the help of an accounting that will help you to track down when the company is on profit and Lost, if a business organisation is not able to keep up to date on this then obviously the business may not be in a position to grow.

2) Decreased or increased in demands: when there is no proper accounting it will be impossible for any business to track when there is high demands to increase production or when there is low demands to decrease production.. this may eventually lead to overproduction or underproduction of goods.

Generally there are a lot of other benefits of record-keeping in a business and this should be encouraged in any business organisation because it will really help them to understand what they are doing.

 

[Seno inyang]

Without accounting in a business the business ends up failing gradually without noticing on time. For all products bought and sold out there should be an account done for it. No business can survive without making accounts of the inflow and outflows, how does it work? It makes everything disorganized and you as a business owner you may go bankrupt.

 

[Skysaint]

Accounting is very important in a business especially to determine when you're running at a loss. And if eventually your business is facing a hard time, it's actually what we do fall back on to ascertain what went wrong

 

[Bousine123]

Accounting is monitoring all the financial activities going on in the business, i.e the profit and the loss, the tax paid e.t.c the new increase in price of commodity can also be recorded so as to avoid loss of income

 

[Ghost]

First of all money has a numerical value. Accounting has to do with determining the numerical value of money. So yes accounting is one of the most important aspect of business

 

[kinqzbitz]

I guess it is actually because it has a lot to do with money and it provides ways in which people can actually save am d invest their money if they so wish to do that

 

[tyrim88]

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

Among one of the most vital aspect and life of any business,is the the proper and adequate documentation of all financial transactions in the business operations.it will go on to tell how healthy the business is and the future growth is a function of its finanv=cial standing.

 

[Good-Person]

Accounting helps a business to calculate the total gains and expenditures. It also helps us to maintain a good cash flow in the business. No business can survive without accounting.

 

[Toyoabasi]

Accounting is one of the brain box behind a business. It is important to keep day-to-day records of activities, products sold out and the available products to avoid compromise.

Absolutely.
Without accounting, it would be difficult to ascertain the profit or losses you're accruing as a business owner.

 

[Thinker009]

Accounting is very important in business because with accounting you could be able to determine the financial position and state of the business ,the business growth and development would be more advantageos to you I think

 

[Elfinito]

Accounting would help you track all your business transaction and you would know about every losses and gains in your business snd it would further help you to improve your services

 

[Dagm1]

Accounting is highly crucial in business; whether the company is little or large, it need effective daily accounting in order to stay in business. If a firm does not have accounting, it may become insolvent; yet, all businesses require accounting in order to function properly.

 

[greenie]

Accounting is basically important in business because they are the permanent image that the business man usually speaks out .their are the only ones that can bring you out your desire in business and bring you the list of income .and is not only business they are there for.

 

[Laurentta]

One cannot run a business without accounting. It is with accounting a business owner will know if the business is running as at lost or gaining.

 

[Sotherefore]

Accounting is very important in business. It would help business owner to keep proper records of every business activities. It is with the help of accounting that you will know the demands and supply of people especially when you are operating multiple business at a time.

 

[Sincerem]

You can't manage your business effectively when accounting has been removed from your business. You won't know the demand and supply and supply of each day. The current business capital. Profit and so many other important information.

 

[Shigobad2020]

Without proper accounting in business , business will be a waste because you wont know all the details and the numbers of the goods bought and sold , and you won't know if you gain or loss.

 

[Godspower]

Without proper accounting in business , business will be a waste because you wont know all the details and the numbers of the goods bought and sold , and you won't know if you gain or loss.

Accounting is very important alongside stock keeping. It makes you to keep track of the quantity of items sold and the amount you have left. It also makes you know if you're making profit in the business or not.

 

[joy101]

Accounting is basically important in business because they are the permanent image that the business man usually speaks out .their are the only ones that can bring you out your desire in business and bring you the list of income .and is not only business they are there for.

Yes accounting is very important in a any business because without this one cannot know if the growing or not, so every business need accounting book to know gain and also your lost that is why is really good to have it in a business.