Never ask of money spent, Where the spender thinks it went.

Nobody was ever meant To remember or

invent moWhat he did with every cent. A quotation from Robert Frost that conveys the hardships of
accounting. Reading this saying reminds of the true role of accounting in our lives, especially our
business lives. It is true. Maybe we can remember how we get the money but we can't memorize and
remember every detail of our expenses. That is why accounting is very important so that we will be
guided on every transactions we made and also this is where the role of accountant starts.

Accounting can also be applied in our daily lives. With the help of accounting, we can track how we
spend the money we get from our parents in going to school. Did I spent it wisely? Did I earn any
savings? Did I spent too much? Those are the questions we can answer when we do simple accounting
of our “baon.” Let's analyze my money last Friday and how did I spent it. My money was 60 pesos. Our
house is near the schools so there is no need for me to ask large amount of money. From our house to
school, the tricycle fare is 8 pesos. Deducting it from my money, 52 pesos was left. Before 5th period, my
stomach starts grumbling so I bought a snack which is Richeese that costs 20 pesos. 42 pesos was left.
The last expense I made is the fare from school to house which is again 8 pesos. Over all is pent 26 pesos
and deducting it to my initial money which is 60 pesos, 34 pesos was left. That money left goes to my
savings. Wow! Now I realized how wise I spent my money and how big is my savings that day. Now, I
realized that accounting is not just for businesses. We can also be accountants in our daily lives.

Accounting is the systematic and comprehensive process of recording of financial transactions

pertaining to business. While an accountant is one of the main player of the business because he or she
is the one that performs accounting functions such as audits or financial statement analysis.
Every business needs an accountant to help them outlook the overall performance of their business.
With large amount of moneys and different transactions being made everyday, no one can really
remember the exact transactions that happened and how the money was spent. Even the president or
the managers can't really memorize every details of the business activities. That's why accounting and
account is a must because accounting is the language of the businesses and behind every succesful
businessis a great account.