Account & Book Keeping
Importance Of Book keeping And Accountancy
- 1) Accounting is very important and needed for any business transactions. It helps in recording, classifying and finally summarizing the transactions in a business.
- 2) Helps in evaluating the performance of business.
- 3) Helps to manage and monitor cash flow .
- 4) Helps business to be statutory compliant .
- 5) Helps to create budget and future projections.
- 6) Helps in filing financial statements with regulators, stock exchanges and filing of tax returns.
- 7) The accounting system provides a number of qualitative and quantitative customized reports which are required in day to day business activities.
- • Chartered Financial Analyst.
- • Chartered Accountants.
- • Company Secretary.
- • Loans executive.
- • Certified Financial Planner.
- • Venture capitalist.
- • Cost And Works Accountant
For the above we can conclude that accounting is very important for any enterprises whether listed or unlisted, profit oriented or not for profit, Government or private,and it helps in future growth. At the same time financial statements produced by various accounting systems are used by multiple stakeholders to take economic decisions. Proper reporting and accounting practices helps in maintaining investors’ confidence and brings economic growth as well.