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.
A few reasons why accounting is important to businesses:
- It Helps in Evaluating the Performance of Business
- It Ensures Statutory Compliance
- It Helps to Create Budget and Future Projections
- It Helps in Filing Financial Statements
