Basic Knowledge of Accounting is the foundation of every business and its ability to succeed. It’s an understanding of the way financial information is documented, organized, and analyzed to make decisions. With accounting, you can track useful metrics like profit and loss, cash flow, cost of goods sold, and more. You can also use it to gain insight into the efficiency and effectiveness of your business operations. Accounting is not just a number-crunching exercise, but an invaluable tool that helps entrepreneurs understand their company, invest in its future, and make smart decisions with the data they have.