Read About Types Of Accounting Errors In Detail.

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Hi everyone,

I wish to ask about types of accounting errors in brief. If anybody is having any clue regarding this, then please explain it in reply.

Thank you in advance.

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Answered By 0 points N/A #302045

Read About Types Of Accounting Errors In Detail.

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An error in accounting is a non-fraudulent error in financial documentation. The word is useful in reporting.
Different types of accounting errors involve:
• The Error of omission — a transaction whose recoding is not available.
• The Error of commission — a transaction whose calculation is not correct.
• The Error of principle –one which is not according to the accepted accounting principles.

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