Accounting & Bookkeeping
Bookkeeping is the process of recording a business’s day-to-day financial transactions in an organized and consistent manner. It includes tracking sales, purchases, payments, and receipts.
Accounting goes a step further—it involves summarizing, analyzing, and interpreting the financial information recorded through bookkeeping. This helps in preparing financial reports like profit & loss statements, balance sheets, and cash flow statements.
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Tracks Financial Performance:
Helps businesses monitor income, expenses, and profitability over time. -
Supports Decision-Making:
Provides accurate financial data that owners and managers can rely on to make informed business decisions. -
Ensures Legal Compliance:
Helps in maintaining records as required by law, including tax filings and regulatory reporting. -
Improves Financial Management:
Assists in budgeting, planning, and managing cash flow effectively. -
Builds Business Credibility:
Clear and accurate financial records boost trust among investors, banks, and other stakeholders.
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