Question

name important objectives of accounting?? ​

Answer 1

Answer:

Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing the financial position, and aid in decision making with financial data and information about the business

Answer 2

Answer:

We have identified 13 objectives that accounting serves.

1. Identification and recording of transactions.
2. Ascertainment of results.
3. Ascertainment of financial affairs.
4. Keeping accounts of cash.  
5. Control over assets and liabilities.
6. Controlling money defalcation and cost.
7. Providing economic data.
8. Helping tax fixation.
9. Determination and evaluation of policy.
10. Testing the arithmetical accuracy of accounts.
11. Acceptability to others.
12. Creation of values and accountability.
13. Following legal bindings and prohibition.