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Keeping Score

Accounting translates the actions that take place in the business world into a set of numbers that you can use to make informed decisions. It captures information on how well a company operates, the hundreds of obstacles that a company needs to overcome, and the company's prospects for the future.

Accounting rules enable you to compare your company with other companies and with other industries. These comparisons are important when you want to seek additional funds for expansion, such as by borrowing or by inviting capital investment. Following the rules can open opportunities to succeed and to receive equal treatment in a very rugged marketplace. But you don't need to be a CPA to use accounting for solid decision making. Often, it is as simple as subtracting your expenses from your revenues to determine your profits.


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