Why Accounting is important in business?

[Presh1503]

Accounting is very important in a business and it is required in every business because it shows the daily records and transaction of the business and allows you to know whether you are gaining profit or loss

 

[Milz]

Without accounting how do you intend to know when your business is making profit or running at a loss. You keep accounting records because you intend to know every income and expenses that's involved in the business.

 

[Husnainali]

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.

 

[Lyrrex]

Accounting in business is very important because it is when you do accounting that is how you will know if the business is progressing in terms of profit or is a business is going down or you are losing,it's help me to calculate the amount of profit you make their way and amount of goals you sold

 

[Lawal]

Accounting is important in business because with a full details of account you can not know either you lose or you gain in business moreover account is one of those things that allows the manager to know weather is managing the business very well

 

[Atiqurrehman]

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.

 

[Meerab]

Accounting is important for small business owners as it helps you to attract income.. It is necessary to keep the record of all dealings profits and losses in the business... Accounting can evaluate the financial performance of the business. Accounting provides vital information regarding cost and earnings, profit and loss in any business

 

[Chibson]

Accounting is one of the most crucial part of any business. I can't helps to monitor the financial flow in the company or business. It helps to monitor the expenditures made in the business and also keep track of the financial outgoing and incoming in the business. Any business that does not have accounting procedures is bound to fail.

 

[Jumoke12]

Accounting is very important because it helps the business owners to know how the assets if the business are being used and how the liability is being taken care of. In the absence of accounting, a business will be like a blind man walking on the streets

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.

 

[Thosynho]

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.

I strongly concur with your submission here. Accounting plays a pivotal role in determining the growth or otherwise of any business. When you take good account of your business you will know if you are actually making progress or not.

 

[Makorlly]

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.

 

[Blessedsam60]

Accounting and book keeping isn't just goof for business alone but also for administrative purposes and other financial institutions. It's a financial way of keeping tracks and records of every financial transaction done in an organization.
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Accounting and book keeping isn't just goof for business alone but also for administrative purposes and other financial institutions. It's a financial way of keeping tracks and records of every financial transaction done in an organization.

 

[Esther]

Accounting is important in business because it keeps you organized,it backs up your tax return claims,it holds you accountable,it guides decision making,you can measure new strategy with hard numbers, it's necessary for getting investments or loans.

 

[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.

 

[Igbokwe chidera]

Accounting is one of the most important sections in a business organisation because it mainly consists of keeping record of things going on in the business organization and service being rendered.

 

[Victor001]

Every business is based on income and expenses, balancing of credit and debit. Accounting skill is highly recommended to run the affairs of every business, imagine running different business ventures at different levels, accounting is very important.

 

[Olahab]

Without accounting, you wouldn’t know how much money your business has earned. You could easily forget how much money you paid out. And, you wouldn’t remember how your current profit or loss compared to the previous quarters’.

 

[Neta Sam(Samuel Odunlade)]

Why is account important in business? Is like you are asking why is money important in life? When you can not account for the money in your business, that means you can not track the Cash flow in your business, and it can lead to disaster for Your business.

 

[jagabaney]

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.

 

[Akinwale701]

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 is very important for every business that you do. you need to know how the revenue is made and how the expenses are incurred. This will aid accountability and will ensure credibility of the accounting statement. So, accounting is very good for business.