• Ajit Biswas

This paper highlights the books of accounts as a mirror of all financial events of an entity. It expresses the concept of Bookkeeping and accounting beginning from Luca Pacioli's Double Entry Bookkeeping system, how accounting help and manages the organization’s finances in ensuring managerial decisions, and ensures transparency and accountability with the importance of accounting. The role of books of accounts in the modern accounting system is part of this paper. The books of accounts act as a complete record of all the financial events which helps with auditing and decision-making and knowing the activities of the organization in the future. In this paper, the methodology includes a review of the literature on the topic, the importance of books of accounts, and a review of some examples. The present study finds an inclusive outline of the importance of accounts as a mirror of all financial events of an entity, which can address the stakeholders’ concern in making important decisions and assessing an entity's financial health and stability.

Books of Accounts, Mirror, Importance of Accounts, Entity

"Books of accounts are the mirror of all financial events of an entity", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 5, page no.47-54, May-2018, Available :http://www.jetir.org/papers/JETIR1805996.pdf

"Books of accounts are the mirror of all financial events of an entity", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 5, page no. pp47-54, May-2018, Available at : http://www.jetir.org/papers/JETIR1805996.pdf