Write an essay in no less than 200 words discussing the general purpose and function of accounting in business. General purposes and functions of accounting must be presented in your output guided by the following criteria:
* Organization of Thoughts
* Content of the Work
Answer (2)
Accounting serves as the language of business, facilitating decision-making through the recording and reporting of financial transactions. Its key functions include record keeping, financial reporting, cost control, budgeting, and compliance with regulations. These activities ensure transparency and contribute to the overall success of a business. ;
Accounting serves as the foundational language of business, crucial for recording, analyzing, and reporting financial activities. Its primary functions include record keeping, financial reporting, cost control, budgeting, and ensuring regulatory compliance. Together, these functions provide vital insights that guide business decisions and promote transparency and accountability.
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