Accounting: Financial Statements Essay

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It is important to hire an account for a business because they know how to make documents the correct way, they can prove what your business has done financially, shows how much your business is worth. By keeping these records they keep track of money for you because if you don’t know what you yourself is doing in accounting you have a high probability of failure. Even if you have a growing company. So an accountant watches where your cash flow is going and how well your company/or business is doing and where it is going. Doing your taxes also because if it is not done right the IRS will and can put you out of business. Financial statements are important that all the information flows all the way from the income statements to the balance sheets. Without the financial statements done correctly you may not or have a more difficult time getting loans from a bank. It will also give the banks more confidence to give you loans. Recorded Keeping is one of them accounting knowledge that a small business can benefit from because it helps them keep organized and accurate financial records organized can help them find records more quickly if needed. Budgeting also is a skills or knowledge that involves tracking your expenses and income overtime. It is a basic skills in accounting that is very useful cause if you don’t know how much you’re paying in debts or expenses each month you may overspend, leaving little left for investment or savings. Accounting knowledge can benefit a

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