Why Is Knowledge of Accounting Important?
Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
There are three key financial statements generated by your records.
The income statement provides you with information about the profit and loss.
The balance sheet gives you a clear picture on the financial position of your business on a particular date.
The cash flow statement is a bridge between the income statement and balance sheet and reports the cash generated and spent during a specific period of time.
It is critical you keep your financial records clean and up to date if you want to keep your business afloat. Here are just a few of the reasons why it is important for your business, big or small!
LSBSS has listed more than five courses specially targeting non-accountants and professional from non-accounting background. These course would help the learners to understand and working accounting field.
Professional Course
- Professional Certificate in Financial Accounting
- Professional Certificate in Managerial Accounting
- Advanced Certificate in Financial Accounting and reporting
- Advanced Certificate in Managerial Accounting for decision makers
- Certificate in Accounting for non-accountants