what is the benefit of accoutancy
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Benefits of Business Accounting Every Business Builder Ought to Know
- Create/Control Budgets. ...
- Forecast Revenues. ...
- Major Business Purchase Decisions. ...
- Track Business Expenses. ...
- Monitor Business Financial Health. ...
- Personnel Decisions. ...
- Accurate Record Keeping for Financial Institutions and/or Taxes. ...
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Step-by-step explanation:
Accounting plays a vital role in running a business because it helps you track income and expenditures and also budgeting forecasting and controlling the business, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
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