“Why is accounting so important for the

country?”

I’ll assume someone living and working in

the US asked this question.

I once heard a small business owner say

that a dollar spent on bookkeeping was a
dollar wasted. Another business owner
told me that he didn’t need help from
any accountant to do his tax return.
Those two businesses closed down within
a few short years of start up.

Yes, of course I’ve also known small

business owners who do very well
managing the bookkeeping for
themselves, and are able to fill out a tax
return accurately, but it can be a nuisance
and a distraction if you are also sitting in
sales meetings or negotiating with
vendors. That’s when expensive mistakes
can happen, and you’d probably rather
not find out about those mistakes during
a tax audit.