The role of accounting in an organisation

                           The Role of Accounting in an Organization Accounting provides a recognized, standard method for grouping and presenting financial data. The way businesses disclose their financial performance to creditors, shareholders, governments, and the public at large is standardized by accounting systems. This business leadership tool was developed primarily to assist in making decisions based on factual information and data. Accounting is an essential function in every kind of corporation. It combines internal control tools and methods with a number of sub-functions and reporting structures, including management, regulatory bodies, and other stakeholders. There are three key financial statements, 1.The income statement that provides information about the profit and loss 2.The balance sheet  which gives your business a clear picture about the financial position on the particular date 3.The cash fl...