Maintaining a record of financial transactions is vital for every company. It helps in planning your growth, quantifying your achievements, calculating taxes and if you are a public company it is in fact mandatory to publish your financial statements. Given this importance, many companies prefer to invest in a financial division within their own company for bookkeeping, accounting and tax purposes.
You require a specialized skill to manage accounts in a company. There is hardly any scope of error in accounts. A single mistake of yours in book keeping can shake the financial position of the company.