{"componentChunkName":"component---src-templates-blog-post-js","path":"/blog/why-is-accounting-necessary-for-small-businesses/","result":{"data":{"hero":{"fluid":{"presentationWidth":1920,"presentationHeight":300,"base64":"data:image/jpeg;base64,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","aspectRatio":6.4,"src":"/static/0648509fae9e5e3502f9826233953d5a/74fd5/blog-pattern.jpg","srcSet":"/static/0648509fae9e5e3502f9826233953d5a/e3903/blog-pattern.jpg 480w,\n/static/0648509fae9e5e3502f9826233953d5a/b31d1/blog-pattern.jpg 960w,\n/static/0648509fae9e5e3502f9826233953d5a/74fd5/blog-pattern.jpg 1920w","srcWebp":"/static/0648509fae9e5e3502f9826233953d5a/6833b/blog-pattern.webp","srcSetWebp":"/static/0648509fae9e5e3502f9826233953d5a/61162/blog-pattern.webp 480w,\n/static/0648509fae9e5e3502f9826233953d5a/596e5/blog-pattern.webp 960w,\n/static/0648509fae9e5e3502f9826233953d5a/6833b/blog-pattern.webp 1920w","sizes":"(max-width: 1920px) 100vw, 1920px"}},"markdownRemark":{"id":"480ce113-0d2f-5e15-bcf0-d445bec879f7","excerpt":"Keep track of cash flows Small businesses often have limited resources. Poor financial management will hence cause small businesses to fail. Keeping track of…","fields":{"slug":"/why-is-accounting-necessary-for-small-businesses/"},"html":"<p><span\n      class=\"gatsby-resp-image-wrapper\"\n      style=\"position: relative; display: block; margin-left: auto; margin-right: auto; max-width: 590px; \"\n    >\n      <a\n    class=\"gatsby-resp-image-link\"\n    href=\"/static/7b9fd2f426a7238988458da2f3dfcf40/6771f/small-businesses-accountants.jpg\"\n    style=\"display: block\"\n    target=\"_blank\"\n    rel=\"noopener\"\n  >\n    <span\n    class=\"gatsby-resp-image-background-image\"\n    style=\"padding-bottom: 66.89189189189189%; position: relative; bottom: 0; left: 0; background-image: url('data:image/jpeg;base64,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'); background-size: cover; display: block;\"\n  ></span>\n  <img\n        class=\"gatsby-resp-image-image\"\n        alt=\"WWhy is accounting necessary for small businesses\"\n        title=\"WWhy is accounting necessary for small businesses\"\n        src=\"/static/7b9fd2f426a7238988458da2f3dfcf40/1c72d/small-businesses-accountants.jpg\"\n        srcset=\"/static/7b9fd2f426a7238988458da2f3dfcf40/a80bd/small-businesses-accountants.jpg 148w,\n/static/7b9fd2f426a7238988458da2f3dfcf40/1c91a/small-businesses-accountants.jpg 295w,\n/static/7b9fd2f426a7238988458da2f3dfcf40/1c72d/small-businesses-accountants.jpg 590w,\n/static/7b9fd2f426a7238988458da2f3dfcf40/a8a14/small-businesses-accountants.jpg 885w,\n/static/7b9fd2f426a7238988458da2f3dfcf40/fbd2c/small-businesses-accountants.jpg 1180w,\n/static/7b9fd2f426a7238988458da2f3dfcf40/6771f/small-businesses-accountants.jpg 5202w\"\n        sizes=\"(max-width: 590px) 100vw, 590px\"\n        style=\"width:100%;height:100%;margin:0;vertical-align:middle;position:absolute;top:0;left:0;\"\n        loading=\"lazy\"\n      />\n  </a>\n    </span></p>\n<ol>\n<li>\n<p><strong>Keep track of cash flows</strong></p>\n<ul>\n<li>Small businesses often have limited resources.</li>\n<li>Poor financial management will hence cause small businesses to fail.</li>\n<li>Keeping track of the business cash flow will help prevent business owners from over spending.</li>\n<li>It will also help with planning a feasible financial strategy, such as budgeting and projections.</li>\n</ul>\n</li>\n<li>\n<p><strong>Evaluate business performance</strong></p>\n<ul>\n<li>Reading financial statements of the company such as the balance sheet and income statement will give much insight into the well-being of the business.</li>\n<li>Owners can use the insights to effectively chart the way forward for their business.</li>\n</ul>\n</li>\n<li>\n<p><strong>Provide investors with important financial information</strong></p>\n<ul>\n<li>Investors want to know exactly why they should invest in your business, and they require hard facts to convince them.</li>\n<li>Accounting helps provide investors with the figures they require, and ultimately helps them make a decision on whether or not to invest in the business.</li>\n</ul>\n</li>\n</ol>","frontmatter":{"title":"Why is accounting necessary for small businesses?","date":"March 06, 2021","publishDate":"2021-03-06T12:06:17.000Z","author":"Tech2Reach","image":{"childImageSharp":{"fluid":{"presentationWidth":2160,"presentationHeight":1439,"base64":"data:image/jpeg;base64,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","aspectRatio":1.5,"src":"/static/7b9fd2f426a7238988458da2f3dfcf40/04d62/small-businesses-accountants.jpg","srcSet":"/static/7b9fd2f426a7238988458da2f3dfcf40/eb2a8/small-businesses-accountants.jpg 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