- It is the best way to review your businesses performance and get useful advice on what direction to go in.
- Fundamentally, accounting is used to maintain a systematic and complete record of all transactions that a business makes during its day to day activities.
- Performance of business is key, without accounting it would become very difficult to determine how well your business is doing quantitatively.
- Accounting allows for businesses to also review their financial position and view the cumulative profit or loss of the business as well as their assets and liabilities.
- A big part of running a business is planning for the future. Accountancy allows for planning to be based on true figures and facts leading to more precise and successful plans.
- 6. Accounting is a legal requirement for any business, therefore this a defining reason for needing an accountant.
- When financing, it is key your business is able to provide financial history for example when applying for a loan. Without this, it would be difficult to prove your history.
- Decision making would not be possible without a true understanding of your business and the financial position of your business.
Why our team choose a career in accounting?