Dicunugun, Asnairah P.

BPA111- Ee

Oct. 17, 2023 (Monday)

Objectives of Records Management

Given by Leffingwell and Robinson

1. To keep an orderly account progress: Writing down and preserving memoranda of

transactions, various documents, papers, correspondence, etc. The record progress of the
business. Be referred to as historical function of records
2. To facilitate preparation of statement of true condition: True condition of a business
can be known only by means of its up-to-date records. This knowledge is of vital
importance in business planning and decision making, particularly in the context of
changing circumstances.
3. To facilitate comparison: Records facilitate comparison between one period of time and
another, between different product lines and between firms operating in different lines of
business. This analytical function of records plays a vital role in today’s business.
4. To detect errors and wastes: Errors and wastes can be known and controlled only with
the help of proper records and management. Records Management is control functioned
which facilitates the evolution of techniques for elimination of errors and waste.
5. Legal Formalities: Certain records are kept for specific period of time under the
provision of the various acts.

Principles of Record Keeping

1. Justification- the purpose of record keeping must be justifiable. There is no logic of

keeping a record if it cannot serve any useful purpose.
2. Verification- record must be authenticated. There is no sense of keeping records which
are based on rumors or here say.
3. Period: records should be preserved only for the period for which they are required.
4. Classification: Records should be filed in such a manner that the requisite information is
available when needed. For this purpose records should be classified properly.
5. Safety: The Records should be preserved safely and the systems of filing should be
flexible so that it could be adapted to change easily.
6. Economy: Records must be produced and maintained at a reasonable cost. The benefits
to be derived from keeping records should be more than the costs of creating and
maintaining them (Cost benefit analysis).