what is the role of accounting in business? please provide one main post and two additional peer…

what is the role of accounting in business? please provide one main post and two additional peer interactions. your main post must be a minimum of 200 words (no quotes) that indicates an understanding of the concepts and materials; your two peer replies should be at least 75 words each. your peer posts cannot be “good job, kelly! i agree with what you said”. these posts must further the discussion and add additional insights from your reading and research. your main post counts 10 points and each peer post counts 5 points for a total possible grade of 20 points for the week.

what is the role of accounting in business? please provide one main post and two additional peer interactions. your main post must be a minimum of 200 words (no quotes) that indicates an understanding of the concepts and materials; your two peer replies should be at least 75 words each. your peer posts cannot be “good job, kelly! i agree with what you said”. these posts must further the discussion and add additional insights from your reading and research. your main post counts 10 points and each peer post counts 5 points for a total possible grade of 20 points for the week.

Answer

Brief Explanations:

Accounting records, classifies, and summarizes financial transactions. It provides financial information for decision - making by managers, investors, creditors, etc. Helps in assessing a business's financial health, compliance with laws and regulations, and planning for future operations. It also enables performance evaluation through financial statements like the balance sheet, income statement, and cash - flow statement.

Answer:

Accounting plays a crucial role in business by providing financial information for decision - making, assessing financial health, ensuring compliance, and enabling performance evaluation.