To use a sports analogy, accounting can be thought of as a way of keeping score within your business. Unlike a baseball game that results in a final score at the end, you’re going to have multiple scores to keep track of in your business. For instance, how much cash do you have on hand? How much do your customers owe you? How much do you owe your vendors? How much have you spent on various aspects of your business? This scorekeeping is typically done on a calendar-month and calendar-year basis.
But now that much of accounting work is done with the help of a computer, you can easily keep score on a weekly or daily basis, or even in real time throughout the day.
In short, the main thing to remember is that accounting is what helps ...