Importance of Book-keeping
Here are some reasons why book-keeping is important;
1. It helps to determine the profit and loss of any business organisation.
2. It provides essential information for decision making.
3. It helps to fulfil tax obligations.
4. For better analysis and management of business finances.
5. It enables the production of financial reports in the most accurate and timely manner.
6. It helps in recording and maintaining financial transactions.
7. It provides the basis for analysing the performance of a business.
8. It helps to detect mistakes in business transactions.