1.

Why is accounting important in the business?

Accounting is important in business for one of the main outputs of accounting are the financial
records/statements which are vital in decision making.

2. What is the role of accounting for managers?

Accounting (specifically management accounting) makes it easier for managers monitor the business.

3. How can you say that an accountant is good?

For me, good accountant is money well spent, knows how to budget and will discuss your current financial
situation and your financial goals, and always help you create plans in the future. Good accountant should
not only manage your finances but also teach you how to budget in order to keep healthy credit, a steady
cash flow and grow your business. Good accountant always manages time well, transparent /trustworthy,
highly organized and know how to prepare financial statements and accounting reports for planning,
controlling, budgeting and decision-making. They should know about the three key financial statements,
the balance sheet, profit & loss and cash flows account.

Answers from no. 1 and 2 is answered by Ms. Kryztal Estabillo, an entrepreneur and a graduate of BSA
from Ateneo de Davao University. No. 3 is answered by Ms. Kate Loy, a graduate of BSAT from UM Tagum
College.