Why is accounting important in business

[ranaabubakar263]

Accounting helps business owners meet their compliance obligations. It also helps them make smart decisions with their money. It is very important thing in all kind of businesses. It is used in checking business details.

 

[Princeeffiong]

If you intend to go into business and you don't know basic accounting and economic principles there is going to be a great lot of problems you will encounter in the business. Account details is important in business.

 

[Luckboy]

Accounting is good in business and it keep you organized
Why is accounting important, you ask? 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’.

Which customers haven’t paid you? Wait, what debts haven’t you paid yet? If you use accrual accounting, you (should) know exactly how much your accounts receivable and payable are.

 

[Rainlover207]

Accounting is very important in business, either the business is small or big it needs proper daily accounting in other for the business to have fucus. If there is no accounting in any business, that business may run into depth, all business needs accounting in other for it to run smoothly.

 

[Sarfraz Ali123]

Accounting is important for small business owners as it helps the owners, managers, investors and other stakeholders in the business evaluate the financial performance of the business. Accounting provides vital information regarding cost and earnings, profit and loss, liabilities and assets for decision making, planning and controlling processes within a business.

 

[Abbeyola]

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Accounting is very important in business because without giving account of business it can not function very well,in business you need account to no if you gain or lose,also in business you need to know if you are not losing because losing is not good, business without profit is useless

Accounting is very important in a business organization or setting, because it gives rooms to accountability and knowing how to evaluate and value the business.
Whether the business is making progress or not,and adequate policy to put in place to ensure good operations.

 

[Muhammad asif khan]

It's like a red bone for a company's business. No business can run without accounting

 

[Lawal]

Accounting is very important in business because without accounting you can’t not know either you gain or you lose in a business.and in anyone business if you are Moynihan making profit is not good. So accounting will let you know more details about the income good and outgoing good also

 

[Shahzaib37]

Accounting is very important in business because without giving account of business it can not function very well,in business you need account to no if you gain or lose,also in business you need to know if you are not losing because losing is not good, business without profit is useless

Accounting is a big substance in a businesses which give ue states of company incoming and outgoing money and other deals which need in your business most that way company needs account stuff.

Accounting is very important in business because without giving account of business it can not function very well,in business you need account to no if you gain or lose,also in business you need to know if you are not losing because losing is not good, business without profit is useless

 

[Jesuyemi 08]

Accounting I one of the soles of a good business.. It is the day to day running of a business and if it is not done then you can't have a good results of your business

 

[Cybersec]

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 and above all increases your ability to work.

 

[redpogi16]

Well if you will start a business you need a person who knows about accounting or you know about accounting. Because accounting is very important in business. Accounting or accountant is the one who will track all of your profit, loss, or even expenses and also accountant will help you to manage your money.

 

[Yasmin]

Accounting is very important in business.

If you have shareholders in your small business, you know how important it is to show rather than tell. Accounting does just that.

Your shareholders hold you accountable for the success of your business. They can observe your business’s growth and success by looking at your accounting records.

 

[btaliat]

It is very important to be keeping account of what's going on in the company financially. This will make the company to know the financial strength of the company. Whether the company is making loss or gain.

 

[Adetayo100]

Accounting plays an 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.

 

[Chumzy]

If there are many reasons one can run a business then profit making is the core. Now if you have to protect and guarantee your profits then you have to. In fact you need accounting at the slightest to check your profit especially big businesses.

 

[WhiteHouse]

Account of eveey form e are fundamental for the working of the business. For a business to succeed, legitimate records should be kept up. Accomplishment of an organization is regularly measured by the appropriate treatment of accounts and the convenient recording of the assessments. Be it any kind of business, you need appropriate help from a prepared proficient in dealing with your funds. To make things simple for individuals, numerous organizations have now begun to rethink their accounting services This surely comes as an aid for organizations that need the additional support in dealing with the accounts.

 

[Ogbest]

TAccounting itself is an important gpart of the financial management of the company, there is control of expenses and income that keep the finances of the business standing. When the control is correctly accounted for, it is possible to be clear about unnecessary expenses and the reality of the assets.

Doing business without accounting is just going into dark and blind business. How can can you be into a business without knowing if you are making profit or lost. Account is very important and vital in every business, so as to ascertain tour profit or lost.

 

[Abid]

Accounting play an very important rule in developing a business. Without accounting you can't full fill the criteria of business. In simple way you can't deal with your business.

 

[Xerryl]

Accounting is the recording and book keeping of a business day to day activities. It takes record of the sales of the business the buyers of that day sales, the amount you used for expenses, your debtors and creditors and accounting will help you separate expenses from sales to get your income