16. Correction of errors闪烁的烁
Chapter Overview ü Correction of error
长袜子皮皮读后感>山随平野尽
Types of error
üThe trial balance will not balance if total debits do not equal total credits.
l Errors of transposition ——two digits in a figure are accidentally recorded the wrong way round. （648记成684）
l Errors of omission ——An error of omission means failing to record a transaction at all, or making a debit or credit entry, but not the corresponding double entry.
Types of error饭团怎么做
IAD
üErrors of principle —— involves making a double entry in the belief that the transaction is being entered in the correct accounts, but subquently finding out that the accounting entry breaks the ‘rules’ of an accounting principle or concept.
冬雨季施工措施→ For example, repairs to a machine costing $150 should be treated as revenue expenditure, and debited to a repairs account. If,
instead, the repair costs are added to the cost of the non-current ast (capital expenditure) an error of principle would have
occurred. As a result, although total debits still equal total credits, the repairs account is $150 less than it should be and the cost of the non-current ast is $150 greater than it should be.
Types of error规范研究
l Errors of commission —— the bookkeeper makes a mistake in carrying out their task of recording transactions in the accounts.
（老会计记错账户或者加总出错）蒜蓉酱
l Compensating errors —— errors which are, coincidentally, equal and opposite to one another （两笔Entry都做错了，但是错的金额正好一样，导致TB看上去还是平的）
