The Objectives of Double-entry System of Bookkeeping are as follows:
- To provide legality to the maintained books of account.
- To minimize the possibility of frauds.
- To find out arithmetical errors and rectify them.
- To make financial information available to the management at the time of requirement.
- To find out the amount of profit or loss incurred through the business operation.
- To ascertain the financial information position of the organization.
- To record and classify financial transactions in the organizations systematically and scientifically