Why is accuracy important in accounting?
- It helps in preparing the financial statements rapidly and also accurately
- It gives information to implement the control of cash in any business.
- It highly contributes to assessing the financial condition of the business at any point in time.
- It keeps a proper track of the expenditure on staff and also their performance.
- It accurately measures the business performance in contrast to the projections in the business strategy.
- It quickly highlights those areas where trouble could arise and even it enables cure to put the problem back in place
- It completely fulfills the tax obligations.
- It assists us in calculating the amount of tax we have to pay.
Go through this tax accountant interview question very thoroughly