Why Accounting is important in business?

[Deucalion]

Accounting is very important in business, it will help you to track down the supply and demand system in a business and Will also to understand if there is need for you to increase production, without accounting a business will not know its progress.

 

[kayode10]

The baseline of investing in any business or investment is to make more profit. This can only be determined if the accounting of the business is highly-efficient. Accounting helps to determine the cash flow in the business. If cash flow is the blood of a business, accounting is the oxygen that pushes the blood in the business.

 

[Bookwormlux1]

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

This then would definitely lead to a huge loss in any business and it would be better to just hire one accountant to keep the business finance going fine.

 

[Sotherefore]

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.

Yes that is why you need to take accounting in your business to be one of the most serious thing, because without accounting it will be very difficult for you to understand the progress of your business, you can employ people to help you do that.

 

[Josemendez]

Yes that is why you need to take accounting in your business to be one of the most serious thing, because without accounting it will be very difficult for you to understand the progress of your business, you can employ people to help you do that.

The challenge is the money paid to these hired accountants . This is why most people prefer to manage Financial aspect of the business on their own

 

[Funky]

Most people feel they do not need accounting since it is just little tasks that is required of them but that is not entirely true as our daily living is income and expenses which accounting helps simplify

 

[Bookwormlux1]

Accounting makes it easy for a business owner to get to realize any sort of cheating that is going on to make profits making difficult.

 

[Setho]

One of the lost influential ways in tracking business progress is via The finances and that is why a business owner should take the accounting aspect of the business very important.

 

[Fizzy_boi]

Accounting plays a major role in business and marketing administration alot they are the back bone to all monetary and financial aspect of a business they control the financial aspect.

 

[Ub40]

If you ask me, I will say that the role of accounting in any business cannot be overemphasized as this is the department where profit and loss can be calculated, which will help to know if the said business or organization is doing well or nor regarding finance. It is just my opinion.

 

[Kelly5]

Without proper accounting in your business, how do you know your income and expenditure for your business? It will be very nice to have a proper accounting process for your businesses to keep track of things

 

[Sotherefore]

The challenge is the money paid to these hired accountants . This is why most people prefer to manage Financial aspect of the business on their own

With a proper record keeping of every business and transaction that is going on in a business organisation you do not really needs to manage it yourself, if you want to manage it yourself you really need to be the receptionist also.

 

[Chibson]

Any business that does not have good accounting records will definitely not grow and as such cases the business owner may not know the financial situation of the business.

 

[Josemendez]

With a proper record keeping of every business and transaction that is going on in a business organisation you do not really needs to manage it yourself, if you want to manage it yourself you really need to be the receptionist also.

You seem not to understand the message there. Well as for other job that is not relating to finance , you can give it out to anyone .

 

[kay169]

Accounting is very important in your business in order to help you monitor Your Growth Including Profits and losses incurred

 

[nzlz123]

like you said accounting is a vital thing in a business, without it our finance couldn't work and our cash flow could be messed up

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.

 

[jeff87]

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 very important in business. You will not know if you gain profit or loss without proper accounting. In running the business whatever that maybe, accounting is really a necessity. Businesses can't exist without it.

 

[Bookwormlux1]

Accounting helps to show how much financially educated a business owner is as expertise in it is a feature of great enterpreneurs.

 

[Setho]

The finance in the business is what basically speaks about all the things to indicate if it is growing or not so you should take the accounting very serious.

 

[Psalmseen]

Accounting is very important in a business. To record, classify or categorize ,measure, interpret and communicate financial information to those interested, which can be owner of a business for decision making