Business accounting analyses, records, interprets, summarises, and communicates business transactions. The financial statements help maintain a business which includes various types of statements like income, Balance sheet, cash flow, and equity. Business accounting benefits include Analysis of economic performance: The economic reports present organisations’ performance and position, which helps the owners understand by keeping income statements and helps in comparing the financial arrangement between years. Helps in Raising Loan: A substantial amount of money must be available for the company company’s future growth. Sometimes a firm cannot thrive owing to…
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