4 The Importance of Account For Entrepreneurs, Traders and Companies




For those of you who are doing business or you are in an entrepreneur’s degree the most important thing is accounting, regardless of whether you are a large or small company.

With your account you can find out whether your company is experiencing profit or loss. Some entrepreneurs do not know whether their business is losing or gaining profit, just estimating it.

We only place only 4 reasons why the accounting is correct.

1. Become a Measuring Tool.
There should be a qualified person in the field of account to make this account work up to date and assure the work. With that account, it becomes a measuring tool to find out whether the business is losing or gaining profit.

2. Easy Get Loan Approval.
If your account is complete, your account is a very important document in the event of a loan. The loan process will be easy.

3. Tax And Audit.
Every account details need to be sent to the Companies Commission of Malaysia (SSM) every year. And the company’s record of records should be kept for 7 years. This facilitates tax and audit implementation.

4. Planning in the Future.
This updated and kept account is intended to guide future plans. From there you will be able to refer back to past costs for future reference

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