TOZZIBLINKZ
VIP Contributor
Business owners and managers should understand that it is one thing to practice the act of bookkeeping and it is one thing to access the books of account . Failure to access the book of account could lead to a lot of devastating negative repercussions to a business foundation and solidity . Majority of businesses who have the initial aim to flourish and to reach higher heights have failed , as a result of going bankrupt , thereby losing its stocks and inventory , and becoming liquidated or even shutting down as a result of not properly assessing the business books of accounts .
It is important we assess the books of account of our business so as to better mine and know the financial standing of the business . Accessing the book of account will also make us to know whether our business is moving forward or backward . Finally assessing the book of accounts thereby comparing our profits to losses will clearly show us areas we have to improve and areas we have been doing well and must need to keep in order to keep doing well . It is advised to access the business book of account at the end of every business year , and failure to do that would make it complicated if we extend the time to analyse the books of account .
It is important we assess the books of account of our business so as to better mine and know the financial standing of the business . Accessing the book of account will also make us to know whether our business is moving forward or backward . Finally assessing the book of accounts thereby comparing our profits to losses will clearly show us areas we have to improve and areas we have been doing well and must need to keep in order to keep doing well . It is advised to access the business book of account at the end of every business year , and failure to do that would make it complicated if we extend the time to analyse the books of account .
