What are the main advantages of Accounting?

The main advantages of accounting are:

Assistance to management: Accounting provides information to the management to enable it to do its work properly. Such information helps in the Planning, Decision making and Controlling.

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Comparative study: A systematic record enables  a business to compare one year’s results with those of other years and locate significant factors leading to the change if any.

Evidence in the court: Systematic record of transactions is often treated by the courts as good evidence.

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