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Accounting is important for both businesses and individuals. For individuals, accounting helps with budgeting, tracking spending, and saving which leads to financial stability. It allows people to plan their spending, see where their money went, and save for investments. For businesses, accounting generates key financial statements including the income statement, balance sheet, statement of changes in equity, and statement of cash flows. These statements summarize revenues, expenses, assets, liabilities, eq

Author

Aya Clei

Language

EN