The sole purpose of accounting is not just limited to helping managers evaluate the financial condition of the firm for better pricing decisions. Accounting serves a broader role in the business world. It involves recording, classifying, and summarizing financial transactions to provide information for decision-making, financial reporting, and compliance purposes. Managers rely on accounting information to assess profitability, manage costs, and make strategic decisions. Pricing decisions are just one aspect of this broader purpose. Accounting also aids in monitoring cash flow, managing assets and liabilities, assessing the financial health of the company, and ensuring compliance with laws and regulations. By providing accurate and timely financial information, accounting helps managers gain insights into the overall performance and stability of the firm.