Objectives of Accounting

Objectives of Accounting

Following are the objectives of accounting:

a.     To keep a systematic record of financial transactions and events

b.     To ascertain the profit or loss of the business enterprise

c.      To ascertain the financial position or status of the enterprise

d.     To provide information to various stakeholders for their requirements

e.      To protect the properties of an enterprise and

To ascertain the solvency and liquidity position of an enterprise