What's the Use of Accounting? Why Accounting?

Accounting Equation
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Nande John Mufika
Student (University), Namibia

What's the Use of Accounting? Why Accounting?

What the use of accounting for businesses? Why are accounting information systems important for business?


Mazhar Tejani
Student (MBA), Pakistan

Why Accounting?

In business we have many different transactions on a daily, monthly and annually basis. We can not guess at the end of month or year which amount belongs to which transaction.
It is accounting to record them and to distinguish between them.
That's why in my view it is essential to have an accounting information system.

Nedyalka Kuhteva, Ireland

Benefits of Accounting? Why Accounting?

Other big pluses of accounting information that is obtained for past activities of the business is that it may help us make predictions for the future and can be a basis to make decisions.


More on Accounting Equation:
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Revenue versus Proceeds
👀What's the Use of Accounting? Why Accounting?
🔥The Accounting Cycle
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