Why Accounting is important in business?

[Shigobad20201]

Without having accounting in business , you will never know the current status of your business , you won't know if your business is moving forward or going backward , and you need it in order to be able to work hard towards acheiving success .

 

[Good-Person]

Without having accounting in business , you will never know the current status of your business , you won't know if your business is moving forward or going backward , and you need it in order to be able to work hard towards acheiving success .

Accounting is very important for all kinds of business. Accounting helps you to calculate your expenses and help you to understand how much money you are spending and how much you are earning.

 

[Ayojesu]

Accounting is very important in business, it helps you to measure and record your earnings and expenses, it helps you to track your in flow and out flow, so it very important so that you will be able to balance your finances

 

[Eli342]

Any company without proper account management will find it challenging to operate successfully, or, let me put it another way, it can be turned successfully. Accounting is one of the key factors that can make a business stand and keep existing.

 

[Pauljonnes1000]

Accounting is so important in business because, it makes you becomes accountable to yourself. Where accounting is important is in the area of book keeping. Putting down all the expenses made on behave of the business. Also in the area of recording of liability/dept or profit/gain, cash book is important. It makes you know whether you are gaining or loosing. Book keeping is a very important aspect of accounting. Book keeping help you to make decisions on what to do now or in the future.

 

[Good-Person]

Accounting is so important in business because, it makes you becomes accountable to yourself. Where accounting is important is in the area of book keeping. Putting down all the expenses made on behave of the business. Also in the area of recording of liability/dept or profit/gain, cash book is important. It makes you know whether you are gaining or loosing. Book keeping is a very important aspect of accounting. Book keeping help you to make decisions on what to do now or in the future.

I think that a business cannot survive without accounting at all. They must create a better accounting system. I work as a freelancer and I also record my daily earnings as well.

 

[Connor909]

Accounting is crucial to a company because it makes it easier to monitor revenue and expenditures, maintain legal compliance, and give vital stakeholders access to financial data. In order to make informed company decisions, it is also beneficial to review business performance, make budget estimates, and keep financial statements.

 

[Mayorla]

Accounting is very important in business. How else do you intend to track your income and expenditures without Accounting? Impossible, Accounting would help you know if you are gaining or losing, Accounting would help you take better decisions to improve your business.

 

[Heatman]

Accounting and business go hand in hand, without accounting, you wouldn't have know how much money your business has earned or spent. You could easily forget how much you have paid out to your workers.
Accounting keeps a business organized and shows you what your business has been up to financially.

This is very correct and it is very technical that you take accounting of your business very seriously because if you have workers who are not honest, they will always take advantage of this and steal your money which will affect your business.