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Importance of Accounting (Basic Financial Concepts To Know) :- • Why is accounting so important ? • An important part of any business or organization is, arguably, the money that comes in and the money that goes out. The accounting department typically monitors this closely by recording transactions, analyzing transaction patterns and dealing with things like payroll and taxes. • Why does accounting matter ? • The accounting department exists to ensure that a business isn’t losing unnecessary money, employees are being paid, obligations like taxes are correctly fulfilled, trends and patterns that effect the businesses profits and losses are being analyzed and inventory is being paid for. • Tracking business performance • Every bit of money that comes and goes from a business needs to be tracked and accounted for. By adequately recording this information and then studying it, accountants can determine the longevity of a business, financial forecasts and the overall business performance. Click here and download Complete : Copyright All Rights Reserved By http://www.uopetutors.com/ ACC 561 Final Exam
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