The initial stage of starting any business or venture is procurement of funds and investment of capital.
Means of financing has to be decided much before one can even think of what kind of business he has to start.
The next stage comprises of deployment of these funds in the best possible manner so that highest return on investment is achieved.
In order to keep a track of the cost of procurement of funds, the return earned on investment done, expenses incurred, and income received in the business, it becomes essential for one to understand financial accounting.
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