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541166569-LESSON-1-Why-Bookkeeping-is-Essential-to-Your-Business.docx

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Bookkeepersarelife bloodof almostbusiness, has a critical role in company.Responsible for maintainingcompanies books that map outfinancial transactions.depend on cost-effective tools toarrange and monitor information.primary duty vary depending on thesize and form of business.Are responsible for maintaining acompany’s books that map out theirfinancial transactions.Information recorded: allows owners tomake essential decisions involving marketstrategy or product launches while handlingmany financial aspects of businessBookkeeping:relates to managing andmaintaining financial records like ledgers,reports, financial statements, income taxrecords.Is the accenting component thatdocuments receipts, expenses, andsome other business activities in theaccounting systemBookkeeping is important:it helps businessanalysis, a tool in business to analyzeperformance, a solid grasp of financesempowers small business to educateguesses and decreases the risk ofmisappropriating funds.Bookkeeping (Record keeping)Accountingcomponent that document receiptsexpenses and other business activities inaccounting system.

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Term
Winter
Professor
NoProfessor
Tags
Balance Sheet, Income Statement, Generally Accepted Accounting Principles, 12months

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