Basic Knowledge is necessary for accounting! The reason being accountancy is basically dealt with monetary transactions and practicing accountancy requires a sound knowledge of basic arithmetic functions. Key areas where we need mathematics is at the time of valuation of stock and the inventories, calculating EPS I.e. earnings per share.

Thus in order to understand accounting, we can say mathematics is  one of the vital pillars which stands as a basis for executing accountancy and an individual must know basic math which includes addition, subtraction, division, percentage etc. as these will be needed at time of calculation and preparation of various accounts such as cash account, bill receivable account, profit and loss appropriation account and many more.