article thumbnail

Accounting Basics for Small Business Owners [By a CPA]

LyfeAccounting

But let’s first discuss why accounting is important. Why is Business Accounting Important? To understand why accounting is important, it is best to look at a simple example. And, there are many ways to slice and dice through your financial reports to derive certain information. Quick Recap.

article thumbnail

Bookkeeping vs Accounting: What’s the Difference? How Should You Choose?

LyfeAccounting

At LYFE Accounting, we’ve helped companies with their bookkeeping and accounting processes. We’ve helped companies with preparing their financial statements. So if you’re in a business, then understanding your financials are really important. Bookkeeping vs Accounting: What’s the Difference?