What about a business which is simply running and not keeping any record of their transactions. There is no point of it as it can’t be decided without books of accounts whether the business is running into profits or not and whether there are areas of improvement unless we have records that where funds are spent or parked.

Accounting give a complete picture of what has happened into the business throughout the year, i.e., incomes and expenses and what is status of business as on date, i.e., net worth. For a business, it is difficult to look into the accounting alongwith core activities. And that is why we are here so that accounting won’t distract you from your core business activities.