RECORD/BOOK KEEPING IN LIFE AND BUSINESS (2)

By Oladipupo Clement

Hello friends! Our contemplation this month has been RECORD/BOOK KEEPING IN BUSINESS. Today, we shall be examining the benefits of record/book keeping. Please ensure that you pause, meditate and take appropriate steps

STAY INSPIRED!

BENEFITS OF RECORD/BOOK KEEPING:
1. It helps to track or monitor the direction of cash flow.
2. It helps in developing an efficient and effective budget.
3. It helps to define the state of your business per time; whether you are doing well or not.
4. It keeps you accountable to government, investors, bankers, etc. Integrity in business is impossible without book keeping. It makes your integrity to lack evidence.

5. It is useful for future references.
6. It helps to make decisions and adjustment where necessary. With proper accounting books, you are able to restructure for business growth and stability. Business and financial decisions are baseless without proper accounting books.
7. It helps to check mate fraud or waste.

Please feel free to send in your questions, comments and suggestions.

NOTE:
Be part of the solution in your little corner or sphere of influence!
Take the practical step toward making Nigeria a better and richer nation.
MAKE A DIFFERENCE!

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