Why Accounting is important in business?

[Setho]

Finances are very well the most important side of a business because you opened the business to make profits in the first place. As such accounting would help achieve that.

 

[Sotherefore]

The function of accounting can never overlook in a business because it is one of the most important business factors, one of the most important function of advertisement is that it help to understand if the business is on profit or loss.

 

[Bookwormlux1]

The function of accounting can never overlook in a business because it is one of the most important business factors, one of the most important function of advertisement is that it help to understand if the business is on profit or loss.

So many business owners do not see the need for having accounting staff members and would think they would be saving expenses, but at the end they lose since they don't know how to monitor profit and losses.

 

[Hena101]

The reason why accounting is important in a any business set up is because only when you account that you will know the income and the expenditure of the business and this will help you know how much you spend and how much is your profit and when you compare the two you will know if you are making profit or not.

 

[Sotherefore]

So many business owners do not see the need for having accounting staff members and would think they would be saving expenses, but at the end they lose since they don't know how to monitor profit and losses.

Is true, without accounting they will lose more than what they are even trying to economize ,because it will not work in such a way ,you really need to organise your business in a way that it follows the law of business.

 

[Bookwormlux1]

Most rich people hire top accountants that would enable them to make good investment choices and not run into bankruptcy easily.

 

[Josemendez]

Is true, without accounting they will lose more than what they are even trying to economize ,because it will not work in such a way ,you really need to organise your business in a way that it follows the law of business.

In as much as an accountant is necessary in a business , it doesn't stop the fact that one can still be able to progress on his own just by taking good records and Financial decisions.

 

[Bookwormlux1]

In as much as an accountant is necessary in a business , it doesn't stop the fact that one can still be able to progress on his own just by taking good records and Financial decisions.

I agree with you. No one should ever think they cannot do without an accountant. There is no big deal, provided you always take your money to the bank.

 

[Sotherefore]

In as much as an accountant is necessary in a business , it doesn't stop the fact that one can still be able to progress on his own just by taking good records and Financial decisions.

One can still progress even without accounting in a business yes, but is going to be difficult because you will not understand the amount of money you are using to establish a business and you will not also understand if you're in progress or not ,you will only believe in what you think

 

[Fizzy_boi]

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.

Actually you already said it all about the definition of accounting they helps to regulate and control the financial aspect of a business they run the monetary aspect as well as bring in more money .

 

[Josemendez]

One can still progress even without accounting in a business yes, but is going to be difficult because you will not understand the amount of money you are using to establish a business and you will not also understand if you're in progress or not ,you will only believe in what you think

Then what is the point of living such a life and putting your business in danger ? , I think the best thing to do is to try and manage it the way you can while learning about it online.

 

[Prettyjanie]

Accounting is important in business because it helps you monitor your progress in the business, that way you know if you are making profits of incurring losses.

 

[eLdavis]

Every business or organization needs accounting, as it plays a hugh role in the business. without accounting the company would run into losses, as it would not be able to determine the right places to use the income that flows in. The resources would be misused.

 

[babdud02]

Accounting will help to keep the systematic record of financial transactions of a business and help business owner to gain knowledge of the entire area of the business

 

[Setho]

One of the very important criteria for measuring business movement is the finance and that has made the accounting department to be pivotal.

 

[Shigobad20201]

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 plays a vital role in business world for many people and for many companies, organisation and society, accounting helps us to know the income and outcome expendiction .

 

[Good-Person]

I believe that you should not leave every thing to the accountant. You should also monitor business acounts yourself when it comes to maintaining accounts of your business. You are the owner and you should also take the charge sometimes.

 

[Hena101]

Accounting is important because it's the one of the means you will know if you're making progress or not in a business, because it will show you the incomes and expenditure of the business, how you you spend and how much you get as profits and many more.

 

[Shigobad20201]

I believe that you should not leave every thing to the accountant. You should also monitor business acounts yourself when it comes to maintaining accounts of your business. You are the owner and you should also take the charge sometimes.

I beleive accounting cover every financial aspect of a business and financial institution, but what you are trying to say is that we must not leave everything in the hand of the accountant.

 

[Good-Person]

I beleive accounting cover every financial aspect of a business and financial institution, but what you are trying to say is that we must not leave everything in the hand of the accountant.

Unfortunately, many people do leave every thing in the hands of accountants and never bother checking the accounts themselves. I can understand that it might not be an easy job for a business owner to check accounts, but he must do that in order to avoid getting cheated by the employees.