ADVANTAGES OF USING ACCOUNTING IN BUSINESS
While some small business owners prefer to go through root canal operations than do their own accounting, bookkeeping is an essential part of running a business. TL; DR (Too Long; Not Reading) The advantages of using accounting in business are linked to the insights provided by numbers. These numbers help you understand what is going well and where there is room for improvement . What are the Main Objectives of Accounting? The main objective of accounting is to keep track of your company’s income and expenses. Revenue is all the money that flows into your business from the sale of goods and services and other types of income, such as interest earned or rent or royalties collected. Expenses are everything your business buys for its operations and infrastructure, such as: · material · workers · ...