What are the objectives of Accounting?

• Video transcript

  What are the objectives of Accounting?

  The key objective of accounting is to provide useful financial information for the decision making of a business. Another objective of accounting is to assess whether the business, products, services and segments are making a profit or loss. Another objective of accounting is to help analyse performance and make comparisons against previous information or competition. Another objective of accounting is to help estimate the worth or value of the business. Another objective of accounting is to help understand how wealthy or asset rich the business is. The final objective of accounting is to help value each business activity and transaction.

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