Accounting is the keeping of financial accounts. Those who work in accounting are responsible for keeping accurate financial records, and providing reports to business owners, managers, and stockholders.
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One can obtain a business credit card in most financial institutes, banks etc. They are commonly used to keep proper record of ones financial statements and in keeping accurate records.
1. Accounting helps to manage the financial records of a business in an organized manner 2. Financial transactions can be retrieved easily 3. Profit and loss can be tracked in a simpler way 4. Provide accurate information to investors, bankers and other business authorities
The librarian gave me a job of bookkeeping.
A business enterprise (entity) has an existence separate from the private financial affairs of its owner/s. The accounting records of the business are separate from the personal financial records of the owner
without good records it is impossible to determined the financial condition or profitability of a business and also to identify all your business assets , liabilities, income and expenses
reputation
The County Auditor is responsible for making sure that county financial records are kept. The County Auditor also makes sure that financial records are accurate.
It varies according to the country.
A person who keeps the financial records of a company is typically called an accountant. Accountants are responsible for maintaining accurate financial statements, managing budgets, and ensuring compliance with financial regulations. They may also analyze financial data to help inform business decisions. In some contexts, this role may also be referred to as a bookkeeper, especially in smaller organizations.
It is the prime responsibilty of the interal auditors to ensure the accuracy and reliability of financial records while external auditors make sure that financial statments depicts true and fair activities of business.