РОЛЯТА И ЗНАЧЕНИЕТО НА СЧЕТОВОДСТВОТО ВЪВ ФИРМИТЕ
THE ROLE AND SIGNIFICANCE OF ACCOUNTING IN COMPANIES

Summary/Abstract: Accounting plays a vital role in running a business because it helps track income and expenses, ensure legal compliance, and provide investors, management, and government with quantitative financial information that can be used in making business decisions. Accounting is the part of a business that is responsible for the company's finances. Understanding the function of accounting helps manage and analyze monetary resources. Accounting is a term that describes the process of consolidating financial information to make it clear and understandable for all stakeholders and shareholders. The main goal of accounting is to record and report a company’s financial transactions, financial performance, and cash flows.Accounting standards improve the reliability of financial statements. The financial statements include the income statement, the balance sheet, the cash flow statement, and the statement of retained earnings. The standardized reporting allows all stakeholders and shareholders to assess the performance of a business. Financial statements need to be transparent, reliable, and accurate.

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