Trade, commerce and business are part of man’s life from ancient time. As man become more civilized these also expand and as transactions were crossed the Boundaries in the form of export, import now a need arose to write them as record as so many transactions could not be remembered.
1. It is used to show business relations with others, to enlist the properties to conduct business for payments, receives.
2. It is greatly in demand due to increase in production, competition, market extension, technical changes etc.
3. It is a continuous process by which those transactions can be presented which are monetary in nature.
4. It helps in providing financial informations.
