Correcting Accounting Errors

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*Front:* Rectification of Errors

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of correcting accounting mistakes

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*Front:* Types of Errors

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of omission, commission, principle, and compensating errors

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*Front:* Error of Omission

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not recorded in the books

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*Front:* Error of Commission

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amount or account entry

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*Front:* Error of Principle

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of accounting principles

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*Front:* Compensating Errors

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that offset each other

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*Front:* Suspense Account

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account for unresolved discrepancies

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*Front:* Trial Balance Discrepancy

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potential errors in accounts

Front

*Front:* Correcting Journal Entry

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made to rectify an error

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*Front:* Common Mistake: Ignoring Errors

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to inaccurate financial statements