Why Accounting is important in business?

[Hdre3m3n]

Why is accounting important in business?It is to know how much you have made and spent during the business trading period and the profit the business had made in the whole entire trading period.
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Why is accounting important in business?It is to know how much you have made and spent during the business trading period and the profit the business had made in the whole entire trading period.

 

[Shigobad20201]

Accounting play an important role in business in the sense that it shows you exactly what your business has been up to when it comes to finances, it also helps you track Income and expendicture.

 

[Felixko]

Accounting is the systematic recording ,analysing and evaluation of monitory issues either in bank or various businesses. But as for its importants in business it help them to know the amount they spend on a particular thing and how is it profitable to the company, it also help to keep track of monitory issues in a business.

 

[Psalmsavatar]

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Yeah, for the effective running of any venture whats so ever, then the accounting department must be up and doing. Just like what petrol is to a car, Accounting is the driving force of a business and must always be present if the venture truly wants to develop. Accounting shows you expenses at a glance and checkmates your excesses when it is done appropriately.
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Yeah, for the effective running

Accounting is important in 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.

of any venture whats so ever, then the accounting department must be up and doing. Just like what petrol is to a car, Accounting is the driving force of a business and must always be present if the venture truly wants to develop. Accounting shows you expenses at a glance and checkmates your excesses when it is done appropriately.
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Yeah, for the effective running

Accounting is important in 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.

of any venture whats so ever, then the accounting department must be up and doing. Just like what petrol is to a car, Accounting is the driving force of a business and must always be present if the venture truly wants to develop. Accounting shows you expenses at a glance and checkmates your excesses when it is done appropriately.

 

[Jlife]

accounting is important in a business organisation because it will help a particular business to know when the demand is too much and when the demand is too low and it will help them to give record of sells to know if they are at Lost or it can also help them to know the amount of profit they make in a day or month.

 

[Eyiteepraise]

Accounting in business usually get ensure that the business get everything that the business has done in the trading period , everything that happens in the trading period and accounting period .

 

[redpogi16]

Accounting has a very important 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. So if you have business its important to have an accountant or you have knowledge about it.

 

[Tollytee]

Accounting is very very important in business so as to know if you are running at loss or profit...its also important to keep records of goods available and goods sold out...to know to your own profit as a business owner

 

[Kamon c4]

In order to be successful in a business, financial management is very important. The basis of financial management is to make sure there’s accountability for every penny spent and received. This process require accounting to keep records of financial dealings, in-flow and outflow of money in a business organization. Good accounting result to good financial management.

 

[Blue house]

Accounting provides the small business owner with valuable information about the state and health of their business. I would venture to say that knowledge of accounting is more important for a small business person than it is for the owner(s) of a large company.
If nothing else, a knowledge of cash flow is crucial to successfully running a small business. Cash flow is more than just knowing how much money you have available in the bank.

 

[Kelly5]

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.
Also share your ideas and experiences.

Accounting in every business is very important. You need to do a proper and extensive financial analysis of all your business inventory and also run a proper audit of your entire business structure for proper performance.

 

[Dylinks]

Accounting simply put is the recording of financial activities both receipts and payments. If such importance isn't placed on a business, it will be difficult to monitor the growth of the business. There won't be any yardstick to determine the turnover if accounting isn't given a priority.

 

[Bholozy]

Accounting is very important in business as it helps you in recording of your day to day activities and helps in tracking income and expenditure of the business. Accounting also helps investors in making good decision with the company financial statement

 

[Adebayonle7]

Because most business failures happen either because of money mismanagement or bad financial accounting due to wrong follow ups on spending and income. Many businesses cannot say this is the amount they made for a certain period of time or the amount spent on expenses. Hence, the importance of regularly and accurate accounting periodically.

 

[Ridorz]

Yes, accounting is a One major things that can make a business standing and keep existing, any business without proper account management will difficult to run successfully or let me say it can be turned successfully. Accounting is a record of expenditure & income and credit & debit of a business.

 

[Lekan]

To motto be sincere ,we all know everything about business is accounting so how can we say that Is not important in business their is no how you will run the business if you did not include accounting.

 

[solomonmali]

Why Is Accounting Important? Important of accounting can not be emphasized Accounting plays a vital role in running a business because it helps you track income and expenditures, it help to determine if the company will survive the risk before it, it also help to determine cash flow of the business.

 

[Godleads1]

An accountant is highly needed in business firms because, they are able to forecast the future occurance of a business. An accountant also helps the business by keep necessary account of sales and money spent.

 

[Ibrahim1]

As for me accounting is very important in any kinds of business you are doing because without accounting you can't no how far your business has been going and moreover it's also makes you know about your productions and you income and expenses

 

[Smithkid]

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.