In many ways, accounting is important because it is the backbone of business. Its purpose is to keep track of a company's finances in all of their different ways, including credits, debits, and profitability, as well as payroll and tax reporting. It's an area based on analytics and analytical interpretations, and the data obtained from these functions provides a company a record of its financial health and stability. Financial analyses generated from this data can be used to guide a company's short and long-term strategies.
Accounting is a challenging field of study, but it does not require you to be a math genius to study and understand it. If we study accounting we are able to put our knowledge of payroll management, profit and loss ratios, and other business principles to good use, especially if we want to start our own business in the future. It would be very beneficial in our everyday lives as well as in the future.
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