Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. Accounting plays an integral part in day to day running of our activities. At Embu College we offer accounting and account-based courses essential for entrepreneurship. Studying accounting and business can be highly beneficial for several reasons:
Accounting provides a systematic way to record, analyze, and communicate financial information. By studying accounting, individuals gain a solid foundation in financial management, which is crucial for making informed decisions in business.
A strong understanding of accounting and business concepts is essential for effective business planning and decision making. By studying these subjects, individuals develop skills in financial analysis, budgeting, forecasting, and strategic planning. This knowledge helps businesses evaluate the financial viability of projects, identify areas for growth, and allocate resources effectively.
At Embu College, we also aim to promote financial literacy, which is crucial for personal financial management as it equips individuals with the skills to understand financial statements, analyze investment opportunities, manage budgets, and make informed decisions about savings, investments, and debt management.
It also provides insight for aspiring entrepreneurs, principles necessary for starting and running a successful business. Topics such as business planning, marketing, financial management and accounting principles is particularly important for entrepreneurs to keep track of their business finances, monitor profitability, and comply with tax regulations.
Finally, training in accounting entails Ethical understanding which is crucial in maintaining transparency, public trust, and the reputation of individuals and organizations in the financial world.
