Explain the importance of accounting? who are benefited accounting information ?
Answers
Answer:
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.
Explanation:
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Answer:
Accounting is important to businesses for a variety of reasons. The sustainability and development of a business are conditioned by the generation of profits.
Explanation
Accounting is important, as it keeps a systematic record of the organization's financial information. Up-to-date records help users compare current financial information to historical data. With full, consistent, and accurate records, it enables users to assess the performance of a company over a period of time.
It benefits the user as the accounting information for analyzing the viability and profitability of their investments. Accounting information enables the owners to assess the ability of the business organization to pay dividends. It also leads them to determine any future course of action.