What is the importance of having a good accounting process in a company?

Accounting not only allows you to know the past and present of a company, but also to foresee
the future. It allows you to know if the company generates profits or losses, it allows you to have
absolute knowledge and control of the company. Allows you to make accurate decisions. It allows
you to know in advance what can happen, it is the tool that will allow you to correctly manage
your cash, your inventories, your accounts receivable and payable, your liabilities, your costs and
expenses and even your income.

What is the purpose of a business?

The purpose of a company is its permanent reason for existing, To improve the standard of living
around the world, To give ordinary people the opportunity to buy the same things as rich people,
To provide a space for people to prosper and to improve the community , those would be some of
its purposes.

How could you keep your business floating?

 To maintain a business you must find the root of the problem and remedy it,
 Analyze if your product or service is adequate.
 Get to know your customers.
 Let yourself be advised.
 Get rid of what you don't need.
 Rethink your business strategy.
 Outsource services.
 Launch interesting offers and promotions.

What factors you should take into account when having a business?

Should consider:

 Choose a sector to work.

 Look for the minimum investment.
 Pay attention to legal procedures.
 Create your own brand.
 Identify good suppliers and customers.
 Use management tools.