Common accounting is the practice of keeping track of financial transactions and assets in a methodical, organized, and accurate manner. It’s used in all areas of business to help organizations keep a clear understanding of their expenses, income, assets, liabilities and other financial metrics. With common accounting, businesses can create accurate and up-to-date budgets, forecast their cash flow, and make informed decisions about their future. By staying on top of their finances, companies can manage costs effectively and maximize profits. Common accounting isn’t just for big corporations – it’s an invaluable tool for any business looking to stay ahead of the game.