Why is accounting important?

A company needs to make a profit to survive and basic accounting is very important to determine if its revenues are higher than its expenses. While basic accounting is very simple, finding all the areas where the company is spending and making money is challenging.

Investments tend to make the process even more complicated. Companies need to invest to develop, but the cost of investment changes over time. In addition, companies have the ability to change the way they deal with investments in order to pay less tax. Accountants analyze this data and determine better ways of reporting income, expenses and investments. 

Tracking changes in consumer interest after an advertising campaign. For example, sales tracking is needed before and after the campaign has started and accountants are able to collect this information and extract all the variables that can cause changes and thus come to the aid of the company.