Why Accounting is important in business?

[Azeem Qadir]

Whenever we talk about business we think about accounting too, so this is important part of any business, and we would have account for any business. So calculations and exchange of money , everything depends upon accounting in any business.

 

[zahidhussain]

Accounting is the basic part of buisness if you have knowledge of accounting you can learn about buisness deeply.accounting help you to calculate profit entry of emoloyees loss in profit and other matter of buisness can easily handle it

 

[Emma19]

Accounting is important to business because every transaction needs to be documented for asserting profit and losses as well as knowing what next financial step to take to move the business forward; either through expansion or stop certain transaction.

 

[gnasrullah53]

All the business is dependent on the accounting and without accounting no body deal in the business and the amount to convert and get.clietsns and the workers pay dues and the amount to debit credit is just deal with accounting and this is the main and basic in every field of business.

 

[Suba]

Accounting is very important for business because it records all financial transactions, both assets and liabilities, and will make it easier for internal and external parties to evaluate and analyze.

 

[Muhammad Arslan]

Accountants also work consistently to protect and expand the financial health of organizations. They do it in a few ways, just as you do. Just a few main principles in financial planning are finances, savings targets, research, debt management and profitability.

 

[Justin]

Your financial records need to be maintained which can be done only through account. For a business, it is very important to have an account to look after financial issues.

 

[Muhammadawais]

You know you have to do so unless you want IRS fines and audits. You wouldn't be able to determine the financial stability of your company without it. Your business decisions will be a crapshoot. Of course, we're talking about accounting.

 

[Senator]

Nobody can do without accounting in a business or enterprise. You need to know how you are doing financially in your business at every point in time would your not?

 

[Sheyemanu]

Concerning your question on how important accounting is in a business venture, I am of the personal opinion that you should not go into business if you don't plan to have good accounting to keep track of your spendings

 

[Kunkun]

What's the point of running a business without proper accounting structure in place, accounting helps to keep track of things in business, it can serve as a means of reference too for past dealings

 

[nimzy]

accounting is one of the essential elements in business it keeps records of all transactions including expenditures and income so as to enable the entrepreneur knows of his progress and failure.

 

[Setho]

You created your business Because you wanted to solve a pain point and to make money thereafter. You have to learn to manage various accounts of your business as this helps you to know which part of the business is moving forward or not and which one needs attention.

 

[Patrik]

because you always keep track of your business and track its performance and know how it is doing, so if there is any downfall or anything like that, you could easily spot it

 

[Setfragil]

Accounting is very important in every business as it helps you to keep tag of all your income and expenses. Accounting records helps to determine the daily, weekly or monthly progress of a given business. Every business must maintain good accounting records.

 

[GIFTMICHAEL]

Accounting helps us to keep records of all businesses transaction intact in a spreadsheet for future references. That's why one going into business should be knowledgeable about accounting to know what's going out and what's coming in.

 

[Ehizzy1]

Accounting is very important because it also helps to ascertain the amount of profit or loss , you have made in that year ,si you could take steps to move the business forward

 

[Damscooguns73]

Concerning why accointimg is important in business. Well, I believe that one of the vital department in any sector, organization or companies is the account departments because it helps to know the financial stability of such organization.

 

[Richard92]

accounting is very important in every business because it helps you to keep financial details of your business and know whether your business is actually making progress or not.

 

[Good-Person]

Accounting is one of the most essential part of your business because it allows you to manage your expenses, income, profits, etc in a timely manner. How would you know how much you have earned and what are the amount of expenses? How would you know how much you have to pay your employees? This is why many companies develop accouinting software. However, you do not require to buy a software. You can make your own ledgers when it comes to accounting.