explain any objectives of accounting
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Main objectives of accounting are maintaining a complete and systematic record of all transactions and analyzing the financial position of a business. Every individual or a business concern is interested to know the results of financial transactions and their results are ascertained through the accounting process.
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Performance-
Accountancy helps in determining how well a business is performing by summarizing the financial information into quantifiable measures (e.g. sales revenue, profit, expenses, etc.).
It is important for organizations to have a reliable source of measuring their key performance indicators so they could improve by comparing themselves against their past performance as well as against competitors.
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