WHAT IS THE IMPORTANCE/NEED FOR ACCOUNTING?


IMPORTANCE/NEED FOR ACCOUNTING


  1.        Information on profit/loss
  2.         Ready reference whenever info. Is required
  3.         Helps govt. In tax assessment
  4.         It acts as a tool of control over use of resources.
  5.         It acts as an aid to planning.
  6.        Provide info about finanancial performance /position and cash flow statement



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