Financial accounting, which is justly called the “language of business” records the economic activities of an enterprise. And the prime focus of accounting is to disseminate the information for the creditors, investors, or other financial regulatory bodies. Of all the business sectors, accounting and finance are highly sensitive partly because they are accountable to the accounting firms and governmental regulators.
A large number of paper ledgers, auditing, and taxation documents have made it difficult for companies to gain vital information from the stack of digital papers.