Rectification of Errors

Errors are mistakes that we commit while giving accounting treatment either knowingly or unknowingly. An error may be clerical or Error of principle. There are various stages at which an accountant and bookkeeper may commit errors. Rectification of error is very important to know the true financial position of an entity at the close of the financial year.

Share with friends

Customize your course in 30 seconds

Which class are you in?
No thanks.