Today, the business world is very competitive and the cost of businesses is going up. Because of high competition and rising cost of business transactions, the margin available to the owners of business becomes very thin. Therefore, the businessmen have to improve the financial performance of the business by monitoring and measuring the results of business regularly. Accounting and the accounting practices play a significant role in arriving at the overall result at the end of the year by meticulously recording every transaction during the year.Through present research study, the researcher...