Why businesses keep accounts
Started 1 month ago
Accounting — HKDSEHKDSE
- Session:
- Why businesses keep accounts
- Primary topic:
- Purpose of accounting
- Level:
- Foundation
- Mastery:
- Likely strong80%
Conversation
You
Why do businesses even need accounting?
StudyPath
For HKDSE you need three audiences: the owner (decisions), lenders and investors (is this business safe?), and the Inland Revenue Department (tax). Accounting turns raw transactions into information those three groups can act on. Exam answers that only say "to know profit" usually score one mark out of three — name the users.
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