NEED & IMPORTANCE of accounting

When a person start  a business what her lager or smaller his main aim to earn profit

He receivers money from the certain source like Sale of Goods,interest on bank deposits

BUSINESS transaction are numerous. That it is not possible to recall his memory as to
How the Money had to earn and spend

AT the same time , He had noted down  his incomes and expenditure He can readily get the required information

Hence the details of business transaction have to be recorded in a clear and systematic manner to get answer easily and accurately fer the following questions at any time he like

WHAT are happened to his investment ?

WHAT is result of the business transaction?

WHAT are the earnings  and express?

HOW much amount receivable from customers to whom goods have been sold on credit?

WHAT are the natural and value of the liabilities of the business concern?