Since startups have an unpredictable nature, solid accounting for startups is a necessity. Access to proper accounting information is crucial for nimble analyses that help identify the scopes of growth and improvement. Accurate accounting for startups also offers strategic decision-making insights.This type of accounting summarises financial transactions from the accounting period of a business into financial statements, like cash flow statements, balance sheets, and P&L statements. At startups, the important external stakeholders like the board of directors and investors have these statements. For entrepreneurs with plans of setting up a business, wondering why CA is necessary right at the beginning is quite apparent. If you think you need to hire CA for tax filing only or go clear with the audit compulsory for companies, you are wrong.
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