Skip to main content

The Importance of Accounting in Business

“You have to know accounting. Accounting is the language of practical business life. It was a very useful thing to deliver to civilization.” -Charlie Munger


Many people don’t understand the true importance and role of accountants in business. Accounting is the backbone of business. This job records the cash flow including salaries, cost of running the building, advertisements, clients budgets, and everything related with money and the business transactions. Accounting does not make corporate earnings or balance sheets more volatile. However, accounting increases the transparency of volatility in earnings.


You may refer to our awareness poster below to gain more information on the importance of accounting in business. Moreover, we will post awareness videos on this topic too! Stay tuned for the informative video and have a nice day!

Comments

  1. Lewis EdwardsMarch 25, 2022 at 1:09 AM

    Accounting is very important in a Business. Accounting Services can help us to take our business further by eliminating daily administrative challenges. I am hiring Lincoln Tax Services.Their accounting specialists manage all my business accounts. I am not facing any linds of the problem with the help of them.

    ReplyDelete

Post a Comment

Popular posts from this blog

Study pathway after SPM: Accounting

  Greetings everyone!  Still unsure about which path should you go for after SPM? Are you choosing the right course? Are you wondering about your future in the accounting field? We are here to help you to get a better view about each possible path that you can take!  Here is the infographic poster that you can refer to. If you want to know more about the details and some realistic experience, don’t miss out the chance to join our live session. Our speaker will cover the study pathway and potential career after graduating from Bachelor of Accountancy. Use your gap holiday to join a knowledgeable and informative event. The fee for the live session is free of change! Join us now!
Post a Comment
Read more

Pre-recorded video - Process Costing

Hello and good day to everyone! 👋 We‌ ‌are‌ ‌students‌ ‌from‌ ‌Bachelor‌ ‌of‌ ‌Accountancy‌ ‌at‌ ‌the‌ ‌University‌ ‌of‌ ‌Malaya‌ ‌and‌ ‌we‌ ‌are‌ ‌currently‌ ‌taking‌ ‌GIG1005‌ ‌Social‌ ‌Engagement.‌ ‌We‌ ‌are‌ ‌conducting‌ ‌a‌ ‌community‌ ‌project‌ ‌called‌ ‌“‌ ‌The‌ ‌Journey‌ ‌Into‌ ‌Accounting”.‌ ‌ ‌ Here we shared the knowledge on Process Costing. Process Costing is a  method of collecting and assigning manufacturing costs to the unit produced. The method is for identical and mass-produced units. Here is our pre-recorded video youtube link : https://youtu.be/RcAzlB16tR4 Feel free to check it out!
Post a Comment
Read more

Introduction to Managerial Accounting

Greetings! Did you guys know that accounting is not just recording transactions?  Accounting is a dynamic and vast profession, with specific roles for each type. There are many types of accounting, which are : financial, managerial, cost, public, tax, forensic, government, auditing, project and social accounting.  Managerial accounting is important for decision making. Want to know more about managerial accounting? Feel free to look at our infographic below to get a better understanding in managerial accounting:  
Post a Comment
Read more