Without Accounts One’s Profit Margin Is Undefined

Accounting is a concept that is utilised by every individual as well as business organization is some form or the other knowingly or unknowingly, in order to keep a track of the expenses incurred and the income earned by them. Accounting is an art used to analyze the data and interpret them accordingly. Whether one agrees or not but accounting is an essential tool for every business firm irrespective of whether they are big or small. Without keeping a track about the expenses one will never be able to derive the profit and income they are making.