Disadvantages of Single Entry System of Accounting

Disadvantages of Single Entry System of Accounting may be summed up as follows: Under this system only partial and incomplete record is maintained because two fold aspects of transactions are generally ignored.
As the two fold aspects of every transaction are not recorded, a trial balance cannot be drawn up to test the arithmetical accuracy of the records. A nominal accounts are not maintained, a profit and loss account cannot be prepared for want of information regarding the various income and expenditures.As no real accounts are maintained the preparation of balance sheet is not possible.These are the Disadvantages of Single Entry System of Accounting