Importance of Accounting

2. Name and ID of Our Group Members
• Kazi Mostafizur Rahman(131-23-3296)
• Md. Yousuf Hossain(131-23-3294)
• Md.Kawser Ahamed (131-23-3446)
• Md. Sarower Hossain Khan(131-23-3440)
• Saifur Rahman(131-23-3311)

4. Importance of Accounting
• To keep systematic records
• To protect business properties
• To ascertain the operational profit or
loss
• To ascertain the financial position of
business

5. Importance of accounting
for society
Accounting helps people understand how the
economy works, daily transactions with-
• Banks,
• Vendors,
• Creditors and
• society can see
how a business is doing financially.

6. Importance of financial accounting for
a company
• For companies of any size,
• For small-business owners,
• For improving a small business.

7. Importance of accounting in health
care
Hospital cost accounting and health care cost
accounting is becoming much more
important. While a hospital or health care
facility may create large revenue amounts, the
costs associated with this revenue is also
large. Without accurate costing, a facility may
find cost overruns and the necessity to take
drastic actions to remain in operations.

9. What we learn from this course
Successful completion of this course students
will be able to:
• Describe the accounting information system
and external financial reporting process
• Analyze and interpret cost information and
present this information in a form that is
usable by management.