International Accountants Day, which is celebrated on 10 November each year, is an opportunity to acknowledge the great work accountants do to make businesses thrive, support the economy, and help people navigate the complexities of finance.
Accounting is vital to business success, so taking the time to mark the occasion is an important signal to your team and the broader business community. Businesses aren’t the only ones who hire accountants. Individuals, non-profit groups, community organizations, governments, schools all use accountants to keep their books balanced and organized.
If businesses do not focus on accounting, then it would be challenging for the management to ascertain the financial position of the business. Evaluating the accounting helps them to realize in which direction the business is going. It helps in recording, summarizing, and classifying all the transactions that are related to your business.
Role of Accounting in Business :
Evaluates Business Performance
Once you have a clear idea about what's going with your business, financially, then you can easily plan your future tasks accordingly. You will be able to effortlessly track the expenses, which will further allow you to allocate the budget accordingly.
Create budget projections
Accounting also helps in creating future projections, which owns the power to make or break your business. It will help you to evaluate the business trends and projections that will allow you to keep your operations profitable.
Maintain Financial statements
Accounting also helps in maintaining financial statements. Every business needs to file its financial statement for tax filing purposes. If you have a proper record of your business finances, then you can easily resolve all the scenarios and hit the targets.
Ensure statutory compliance
Businesses need statutory compliance so that their accounting system gets validated in different laws and regulations. All the liabilities, such as income tax, sales tax, pensions, employee funds, etc., can easily be addressed, for which you need to have a structured accounting system.
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Five Facts About Borehole Drilling That You Need To Take Note Of:
1. Know Your Borehole Casings:The Preferred Borehole Casing In Zimbabwe Is Class 9 and 10 (Pressure Classes.)This is because Class 9 and Class 10 Casings are more collapse resistant. The strength of a Casing is often described as collapse resistance.
2. Borehole Drilling Depth: The exact depth, of where the water is located, cannot be established by the drilling contractor nor the Water Surveyor (Borehole Siter).
3. The Is No 100% Guarantee On Water: It is important to note that it is never a 100% guarantee that any hole will yield water, the amount and water quality can also not be guaranteed by the drilling contractor and water surveyor.
4. Borehole Siting or Water Surveying Is Important: Making use of a hydrologist or traditional water diviner will increase your chances of having a successful borehole that will yield a sufficient amount of water.
5. Know The Risks: The risk of the borehole drilling lies with the property owner. The client will still be liable for the drilling costs irrespective of a borehole yielding water or not.
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Business Offices: 65 Churchill Avenue, Alexandra Park, Harare North, Zimbabwe.
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Office Numbers: +263 867 71 88844
Sales: +263 78 860 8009
Operations: +263 78 860 8005
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Email: info@nakisoboreholes.co.zw
Website: www.nakisoboreholes.co.zw
