The Objectives of Double-entry System of Bookkeeping are as follows:

1. To provide legality to the maintained books of account.
2. To minimize the possibility of frauds.
3. To find out arithmetical errors and rectify them.
4. To make financial information available to the management at the time of requirement.
5. To find out the amount of profit or loss incurred through the business operation.
6. To ascertain the financial information position of the organization.
7. To record and classify financial transactions in the organizations systematically and scientifically