State two main objectives of accounting
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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.
The main object of Accounting is to ascertain the results of the financial transactions of a business concern.
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The following are the main objectives of accounting:
- To maintain full and systematic records of business transactions: ADVERTISEMENTS: ...
- To ascertain profit or loss of the business: Business is run to earn profits. ...
- To depict financial position of the business: ...
- To provide accounting information to the interested parties:
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