Financial Accounting

Bookkeeping is the process of recording a business’s financial transactions in a systematic and organized way. It captures every sale, purchase, payment, and receipt to ensure the business’s financial records are complete and accurate. Why It Matters Bookkeeping is the foundation of accounting. Without accurate records, it’s impossible to prepare reliable financial statements, measure performance,…

Accounting is the process of recording, classifying, summarizing, and interpreting a business’s financial information. It turns raw numbers into meaningful insights, helping owners, managers, investors, and regulators make informed decisions. Why It Matters Without accounting, a business wouldn’t know if it’s profitable, losing money, or heading toward trouble. It acts like a financial health report…