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Subjects>Business>Accounting

What is the importance of accounting?

Updated: 9/11/2023

Wiki User

∙ 15y ago

Best Answer

A proper accounting system is essential to any business whether big or small in order to manage its daily functions and keep the business running successfully. For any successful business, the main obligation is to maximize profits, minimize any loss and at the same time maintain its position as a responsible entity within the society.

Wiki User

∙ 15y ago

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Wiki User

∙ 13y ago

being able to rely on some one. Keeping your word.

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