how is accounting knowledge beneficial to different business majors? accounting knowledge helps . (check all that apply.)

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08-09-2022
Business

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how is accounting knowledge beneficial to different business majors? accounting knowledge helps . (check all that apply.)

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varshamittal029 varshamittal029 · Answer 1 · 2022-09-13T19:43:01+02:00

Accounting knowledge helps to determine supply chain alternatives, financial experts anticipate revenue, investment analysts evaluate the worth of various investment choices, in price setting by brand managers.

Accounting is essential in company because it allows you to track income and expenses, maintain statutory compliance, and offer quantitative financial information to investors, management, and the government for use in making business choices.
The income statement is likely to be the most essential financial statement for the majority of consumers since it displays a company's potential to produce a profit. Furthermore, the information on the income statement is typically in reasonably current dollars and thus has a reasonable degree of accuracy.
Because it conveys so much of the information required by owners, managers, and investors to assess a company's financial performance. Accounting's objective is to help stakeholders make better business decisions by providing financial information.

Thus this is the meaning of accounting.

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