Double-Entry Bookkeeping is an accounting method that ensures every financial transaction affects at least two accounts. This system is based on the principle that every debit entry must have a corresponding credit entry, maintaining the accounting equation: Assets = Liabilities + Equity. This helps to provide a complete picture of a company's financial health. By using Double-Entry Bookkeeping, businesses can track their income and expenses more accurately. It reduces errors and fraud, as discrepancies can be easily identified. This method is widely used by accountants and is essential for preparing financial statements, ensuring transparency and accountability in financial reporting.