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The purpose of accounting in a business helps to asses the businesses financial history and current performance.
https://courses.lumenlearning.com/boundless-accounting/chapter/overview-of-key-elements-of-the-business/

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Accounting is important within a business as it shows not only a overview of the health of the business but also helps to make good financial decisions.
https://yourbusiness.azcentral.com/key-roles-functions-financial-accounting-within-organization-12681.html

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"Above all, accounting plays an important role in small business management, helping track financial information for business functions."("The Role of Accounting in Business", 2018)

Reference:
The Role of Accounting in Business. (2018). Retrieved from https://smallbusiness.chron.com/role-accounting-business-459.html

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The primary purpose of any accounting function is that of ongoing financial record keeping. The ongoing result is the creation of an organization’s financial history that can be used in a variety of ways, as it gives managers a snapshot of the firm’s financial health and wealth at any given time, and helps many stakeholders to make informed decisions.
https://smallbusiness.chron.com/accounting-functions-organization-22781.html

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Accounting is a systematic process for analysing financial information for any business.  It allows the business to communicate financially (e.g. profit vs. loss for a certain period.)

http://www.businessdictionary.com/definition/accounting.html

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https://www.accountingcoach.com/blog/what-is-accounting

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https://www.accountingcoach.com/blog/what-is-accounting

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The function of accounting is to provide information to internal and external stakeholders to help them make decisions. Financial reports summarize a company's past performance and evaluate its financial health. Further information relating to this can be found at  https://courses.lumenlearning.com/boundless-accounting/chapter/overview-of-key-elements-of-the-business/

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Accounting is vital in business  as this article explains
You need to track and control your money and have good management of your accounts..https://yourbusiness.azcentral.com/role-accounting-business-1442.html

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Accounting is the section of business which deals with all things financial. This covers, but isn't limited to, analyzing any profit/loss which the business generates, managing any debt which the business may have, keeping clear records for the end of year annual accounts and being fulfilling any tax obligations.
Please see the link below for more information.

https://www.investopedia.com/terms/a/accounting.asp

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The article explains the primary purpose of any accounting function is that of ongoing financial record keeping. This gives managers a snapshot of the firm’s financial health and wealth at any given time and for external stakeholders. https://smallbusiness.chron.com/accounting-functions-organization-22781.html

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This article relate the success or failure of small business and the affect of accounting in a business. Sometimes is mislead relate accounting function as only a department that collect bill and pay transactions. But accounting functions are where business can see their efficiency and effectiveness and use of resources and generate revenue.

https://smallbusiness.chron.com/role-accounting-business-459.html

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The accounting function is concerned with all things finance. It documents payroll, bills, revenue, tax, profit and also maintains accurate financial records to serve both stakeholders and the decision makers of a business.
https://smallbusiness.chron.com/accounting-functions-organization-22781.html

http://www.open.edu/openlearn/money-management/organisations-and-management-accounting/content-section-4.7

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Esther Anderson

This article states that accounting is the "recording of financial transactions plus storing, sorting, retrieving, summarising and presenting informations in various reports and analyses". It provides a clear definition of the term accounting.

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Lydia Watkins
I think this explains well what accounting is and how it is an important business function

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https://www.youtube.com/watch?v=GpRRQBv8oiY

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Accounting is the process of systematically recording, measuring, and communicating information about financial transactions.

How It Works
At the heart of accounting is the double-entry bookkeeping method. This involves making at least two recording entries for every transaction: a debit in one account and a credit in another account. The method helps prevent errors because the sum of the debits should equal the sum of the credits. The three major financial statements produced by accounting are the income statement, the balance sheet, and the cash flow statement.

Accounting can be done on a cash basis (cash accounting) or on an accrual basis (accrual accounting). Cash accounting records cash inflows and outflows in the period in which they occur. Accrual accounting records income and expenses in the period to which they are attributable rather than when cash payments come and go.
For more information:

https://www.merriam-webster.com/dictionary/accounting

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To collect, store, and process financial and accounting data and produce informational reports that managers or other interested parties can use to make business decisions.

Reference: https://www.accountingedu.org/accounting-information-systems.html

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http://www.businessdictionary.com/definition/accounting.html

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accounting is used to keep track of a businesses financial accounts and record all transactions ,it shows what position the company is in financially