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(Purpose of Accounting, Significance of Accounting, The Various Types of…
Purpose of Accounting
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Decision Making
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Examples of decision making are decisions made based on accounting information such as price charged for products and service, required resources to make products and service.
Business Performance
The accounting reports assists business shareholders to establish the wellness of the business performance
Financial reports are a secure way of measuring the companies key performance indicators when comparing to themselves in the past or with competitors
Legal Requirements
Assists businesses in preserving an precise financial record for transactions and sharing reports amongst the shareholders, tax jurisdiction and regulators
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