Clatworthy, García, Lara & Lee, (2020) established the fact that Accounting is referred to one of the most crucial processes which is useful in recording the various set of financial information pertaining to the organization. The accounting process is considered to be very useful in analysing, summarizing and reporting to the company`s stakeholders to make strategic decisions. Accounting is considered to be the system of documenting the various financial activities which in turn are considered to be necessary for the growth of the business. The key purpose of the accounting is to provide various stakeholders of the business such as investors, suppliers, management, owners, board of directors, creditors, etc. This in turn helps in measuring and summarizing various activities of the business and also communicate the same to the interested parties in order to make strategic decision which is beneficial for the growth and performance of the business. Accounting is considered to be very crucial for evaluating the assets, equities and liabilities of the company. Massingham, (2017) argued that, one of the primary role of the accounting in business is to record all the financial transactions in a systematic and appropriate manner. Accounting is considered to be very useful in controlling the cost of the business which in turn eventually leads to higher operational growth, sustainability and attainment of economies of scale. The key role of accounting is that, it helps in evaluating the performance of the employees which in turn results in higher operational growth and productivity. The main role of the accounting is that, it is considered to be very useful in determining the key cause of errors which in turn largely influence its business operations. Managers in the organization tends to need accurate and timely information associated with the financial data. This in turn is considered to be very useful in assessing and interpreting the results of the financial reports. This in considered to be very useful in solving several financial problems by identifying the fraudulent activities and errors while carrying out accounting. Mintz, (2016) said that, the key role of accounting is that, it is considered to be very useful in complying with the rules and regulations of the government. It helps management of the organization to determine any mistake which has been made while reporting income. This in turn might results in huge penalties, fines and charges. The key role of accounting is that, it helps in planning goals and objectives for the future.