A World Without Accounting. What the world would be like if we did not have accounting in our lives

Accounting today is used by most people in the world in one way or another. Accounting is a system for identifying, reading, measuring, and interpreting the results of economic activities. Accounting is not only used in the business world but rather it is used by everyone in all types of situations. For example, trying to get a bank loan or trying to apply for a credit card the applicant must provide the company with their …

…decision can impact your company in a very large way even sometimes making the company go bankrupt. Accounting in the real world would is a necessity these days just like water and food is a necessity to staying alive. If we did not have accounting in the world almost everyone would have very unorganized financial records and have a lot of trouble keeping track of their Assets and Liabilities. Accounting gives order to our lives.