Question

Explain why having a good accountant is important for a large business. What does an accountant do? Do some research to find out. What might happen to a business if they did not have an accountant?

Answer 1

Answer:

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.

Answer

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Answer 2

Below given are the reasons, why a good accountant is important for a large business. And what might happen to a business if they did not have an accountant.

Explanation:

• 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.

• Reasons why a good accountant is important for a large business -

1. It Helps in Evaluating the Performance of Business
2. It Ensures Statutory Compliance
3. It Helps to Create Budget and Future Projections
4. It Helps in Filing Financial Statements

• Following might happen to a business if they did not have an accountant-

1. Business can Lose Money.
2. Tax time will be a nightmare.
3. Business growth will be held back.
4. Money management can get tough.