The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. These details are then used to reach decisions about how to manage the business, or invest in it, or lend money to it. This gained knowledge is then accumulated in accounting records with accounting transactions, which are recorded either through such standardized business transactions as customer invoicing or supplier invoices, or through more specialized transactions, known as journal entries.
Here are some reasons for why accounting matters for your small business:
∙ Accounting helps you plan for growth: Financial statements let you properly assess how quickly your business is
developing. Without accurate financial statements, it can be tempting to fall back on easy metrics like “sales growth,” which don’t give you the full financial picture.
∙ Accounting is essential for securing a loan:Up-to-date financial statements demonstrate where your company stands. They’re essential if you want to fund your small business with a loan.
∙ You need accounting to get investors or sell your business: Potential investors or buyers will expect accounting records that prove your business is profitable and on-track for growth. These records should be provided by a CPA (Certified Public Accountant).
And the best way to find applicable places to do/set-up your accounting practices is by using addYP.com’s Accounting listing category.
So go on, find your ideal accounting place, which could be the difference between you being rich or poor, and be sure to check it out using addYP.com.