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Also, the lessons learned in accounting and finance subjects are highly relatable to daily life too. . How do you defineaccounting in your words and what are the different types of accounting? . Different types of accounting are: Financialaccounting, Cost accounting, Management accounting .
But interestingly enough, many small businesses often neglect their accounting until tax time, or don’t do it all. 9 out of 10 small businesses that fail, fail due to financial mismanagement of their company. As a CPA that studies and practices accounting, I know that accounting isn’t the most exciting thing in the world.
At LYFE Accounting, we’ve helped companies with their bookkeeping and accounting processes. We’ve helped companies with preparing their financialstatements. And we’ve helped companies save a lot of money with tax preparations. So if you’re in a business, then understanding your financials are really important.
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