Question

what is acoutancy why it imprtant

Answer 1

To run a business you need data, records, reports, analysis, accurate information about assets, debts, liabilities,profits; and that is why Accounting is Importance for any business activities. The accounting information is very important for the management or the decision making the body of an organization.

Answer 2

Accounting can be defined as the production of financial information.

• Accounting is extremely important for recording the financial transactions in a business.
• Without accounting, you cannot display the financial health of your business to your stakeholders.  
• Accounting is pivotal for various aspects and plays a crucial role in preparing the compiled financial statements.