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
Accounting helps you to prepare monthly, quarterly, half-yearly and yearly budgets.
Accounting helps business entrepreneurs to be law and tax compliant since all the transacations are kept updated.
Accounting and Book Keeping helps you in making rational decisions w.r.t operations, finances and investments.
Accounting at the time of tax filing, helps in proper tax calculation and to know source of income.
Accounting helps you to ascertain the availability of cash in hand as on specific date & accordingly decisions can be taken
Accounting helps you to attract Investors by helping them to know all the financial figures & ratios they are interested in.