Book keeping and accounting is very essential in the day to day activities of the business enterprise. Accounting is the chronological and systemic recordings of financial activities and analyzing the financial position of a business entity in order to ascertain the profit and loss, assets and liabilities of the business entity and the interpretation thereoff. Accounting help the business owner, the manager, investors and other stakeholders to evaluate the performance of an organization or enterprise. Accounting provides important information regarding cost, earning, profit and loss as well as liabilities and assets which will guide the decision making, planning and controlling within the business. Despite all the numerous usefulness of book keeping and accounting, some business owner doesn't take it serious. Does that mean accounting is not really needed in small businesses?