The amount of growth depends on a series of internal and external forces. An organisation needs to have set short term and long term goals, be updated with modern technology and has to keep up with the industry trends in order to grow big. Small to mid-size businesses require accounting software or financial account management as they grow to become more scalable
The purpose of financial accounting in any organisation is to summerise the financial activities of that business, profit & loss, movement of various funds, tracking the process and managing the balance sheet. These steps are all very crucial for every organisation.