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1、ACCA考试F3财务会计讲义辅导16本文由高顿ACCA整理发布，转载请注明出处 Session 14 Correction of errorsMain contents:1.Types of errors2.Suspense account3.Adjustments to profit4.Material errors (IAS18)14.1 Types of error in accountingErrors that could not be identified by trial balanceErrors where trial balance still balance: (not
2、identify error)Error of omission A transaction has been completely omitted from the accounting records.Error of commission - a transaction recorded in the correct category, but in the wrong account.Error of principle - a transaction has conceptually been recorded incorrectly.Compensating errors two
3、different transactions have been recorded incorrectly, but by coincidence they are incorrectly by the same amountError of original entry The correct double entry has been made but with the wrong amount.Reversal of entries The correct amount has been posted to the correct amount, but on wrong side.Wh
4、en correcting these errors, a good approach is to consider:(1)What was the double entry? (Did do?)(2)What should the double entry have been? (should do)(3)What correction is required? (to correct)Errors (where trial balance does not balance) will be revealed by the trial balance:Single sided entry a
5、 debit has been made but no corresponding credit entry or Vise versa.Debit and credit has been made, but at different values.Two entries have been made on the same side.An increase addition in any individual account, i.e. miscastingOpening balance has not been brought downExtraction error the balance in the trial balance is different from the balance in he relevant account.更多ACCA资讯请关注高顿ACCA官网：http:/高顿财经ACCA
