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The purpose of accounting is to provide the information that is needed for sound economic decision making. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities.
The keeping of accounting was necessary to everybody because it was given what was happened in business and what comes the income & What goes to the expenditure both was calculated in accounting packaging and its shown What was happen in business it was profit or loss so accounting is very needful to every everybody ( business).
