Accounting errors

1. Accounting errors

2. Introduction: Accounting errors are errors that the accountant during the application of steps in the accounting cycle. As I learned a dear student accounting cycle steps include journalizing and posting to the ledger, trial balance and other steps, but will focus on the mistakes made during the first steps of accounting cycle: the process of recording in a journal and posting to the ledger and trial balance. Introduction: Accounting errors are errors that the accountant during the application of steps in the accounting cycle. As I learned a dear student accounting cycle steps include journalizing and posting to the ledger, trial balance and other steps, but will focus on the mistakes made during the first steps of accounting cycle: the process of recording in a journal and posting to the ledger and trial balance.

3. Reasons for accounting errors: 1. * ignorance in accounting principles: a lack of knowledge of the accountant accepted accounting principles, is ignorant of the scientific basis for the accounting cycle steps of registering and posting and other steps. 2. * inaccuracies and workmanship with the applying accounting cycle steps, such as forgetfulness and oblivion and frequency errors and other errors. 3. * intentional error: an error that the accountant, to conceal the lack of cash balance or forgery of some values and other reasons.

4. Classification and correction of errors:- 1. place error: errors during recording in the journal, while posting to the ledger, or by preparing the trial balance. 2. impact of the error on the trial balance: there are errors on trial balance, and errors affecting the balance of the balance due. 3-time error detection: detects errors in the same financial period occurring or discovered in subsequent financial periods.

5. Accounting errors by place of occurrence: A: errors during the registration process in the journal: as you learned previously that commercial law select books from the books, so it may be skimming or write-off or eggs in it, so the errors during the registration process is done through accounting constraints, these types of errors: 1:-* errors, forgetfulness and oblivion: a recording of a financial process, i.e. that the journal does not have the full time. This error is corrected in the journal history that was discovered in it, so as to maintain the chronology in the journal. Example: in a/6 replaced Emad pay (200) rent place in cash and idolised accountant on the registration process and in 25/6 discovered this error logged the following constraint: 25/6 200 h/rental shop 200 to cash (The registration process was in the 1/6

6. 2. * duplicate errors: these are the HDB registration restriction twice in the journal. Error correction is unlike the duplicate entry for once, this is recorded in the blink of a debtor is party to duplicate constraint and blink the creditor debtor for the constraint is redundant. Example: on 1/7 the provision stores buy furniture worth 500 dinar on account of elegance in 31/7 reliance stores accountant discovered that logged this process twice. 1/7 500 h/furniture 500 h/furniture style (Buy furniture on credit) 1/7 500 h/furniture 500 h/furniture style (Buy furniture on credit) Error correction: 31/7 500 h/furniture style 500 h/furniture (Buy furniture on credit) Suppose it was discovered the error after posting to the ledger, posting under cancellation error in account balances equivalent set 0

7. 3. * alartkabet: mistakes are mistakes made by HDB during the registration process, both in terms of constraint names in registration, and such errors are corrected the entry that contains the error and recording the correct entry, and canceled the reverse sides of the constraint makes the debtor the creditor and debtor, creditor of types: First: the error account names: record registration in the account name alkhtaka, was revered by Remi of Akram, Muhammad instead of Ahmed and so on. Example: on 29/10 happy purchased computers worth ($) of Ahmed. The constraint that has been previously registered accountant: 29/10 900 h/PCs 900 to h/ (Buy the computers on your account) 31, when the error was discovered audit that value at the expense of Amjad instead of Ahmed, the accountant work correct too much, that he cancels the constraint error, make an account on debtor and John make an account credit, party organs and then registered the correct entry. 900 h/ 900 to h/PCs (Cancellation of registration) 900 h/ 900 to h/PCs (Debug)

8. Error: constraint: constraint ends are logged correctly but the error is either a constraint: 1. the error log constraint on the parties Example: in 24 hours shops Samir to maintenance services for customers with value (980) in cash, 31, discovered that the constraint value accountant (890) 24/10 890 cash 890 to h/income maintenance services (Cash services) Restrictions debugging: link removed constraint to make the revenue account maintenance services owe and make cash account credit, and then record the correct value constraint. 30/12 890 cash 890 to h/income maintenance services (Cancellation of registration) 980 cash 980 to h/income maintenance services (Debug)

9. B. error registering the amount one accounting entry terminal: the error in the amount of one of the parties to the accounting entries leading to lack of balance constraint. Example: happy feet maintenance services worth (2400) received in cash This process is as follows: 1/10 2040 cash 2400 to h/revenue services Cash services Correct the constraint: constraint is also clear the error by making the debtor creditor and debtor, creditor and then write the correct entry. 2040 cash 2400 to h/revenue services Repeal under 2400 cash 2400 to h/revenue services Correction under

10. 4. technical errors: errors caused by ignorance on the accounting principles and accounting rules, the most important of these errors error in excellence between alaidarih expenditure and capital expenditure, and the error in the application of the principle of historical cost and other errors.

11. (B) errors in the migration process: an error in the transfer of accounts from the accounts book from the journal to the relevant accounts in the ledger Ttmel migration errors and errors in the transfer of funds or transfer error account and amount to the error between the debtor and the creditor. Debugging the ledger: Ledger of customary non-mandatory where books that write-offs within WordPad unlike journal, but on condition that the competent Director of the book signing beside write-off error. ****************************************************************************** C-errors when preparing the trial balance: errors of stock transfer ledger trial balance sheet, the amount transferred or to be transferred the balance to the party mistake or error in the transfer account name, leading to unbalanced trial balance. Correcting these errors, review the migration process again and discovered the error and corrected it, and then prepare a trial balance.