What is the role of accounting in business?

What is the role of accounting in business?In this unit we spoke about various stakeholders in a business. The objective of a business is to make a profit. Profit benefits the owners of the company. But what about other stakeholders? Should the business address their needs as well?How frequently would you like financial statements if you owned a business? Monthly, Quarterly and/or Yearly as common reporting frequencies?
For number 3, use monthly as the answer.