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Advantages of Double Entry System

  • Accuracy of accounting work can be established.
  • The profit earned or loss suffered during the period can be ascertained together with the details.
  • It facilitates the preparation of Balance Sheet through which financial position can be ascertained.
  • The system permits accounts to be kept in as much detail as necessary and, therefore affords significant information for the purposes of control etc.
  • The result of one year may be compared with those of previous years and reasons for the change may be ascertained

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