Accounting is the process of recording, organizing, and understanding financial information related to businesses. It helps business owners gain a better understanding of their company’s financial health. Accounting can be classified into several types: tax accounting, cost accounting, financial accounting, forensic accounting, and management accounting. Here are some benefits of accounting for businesses. Helps in Decision Making Business owners use financial statements to make operational decisions. Managers can use cost analysis reports to measure and track performance and make real-time decisions. Information provided by financial statements can guide key decision makers when making investment and expansion decisions. Helps Businesses Secure [...]