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Almost every business involves the exchange of money in one way or another. If I go to the store, the owner had to buy the merchandise, then I pay for it and they have to pay their rent, employees, taxes, and many other costs.
It is very important to keep careful track of all this money. The store has to make sure what they are earning is greater than the total cost of running their business. If not, they will have to close shop. They also have to plan for paying bills, and save money each month so they will have enough to pay taxes each year. They need to know they are making enough to pay their employees. And they need to make sure no one is stealing any money from the cash registers, and keep track of the cost of the merchandise that is stolen from the store.
Keeping track of all this flow of money is called "accounting." In a small store, the shop owner may do the accounting themselves. If a business is large enough, they are able to hire an "accountant" to do the accounting. The larger the business the more Accountants they may have. It is an essential part of running a business.
What else can I help you with?
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help
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none
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