Rectification of Errors in Accounting

Rectification of Errors in Accounting, available at Free, has an average rating of 4.5, with 5 lectures, based on 27 reviews, and has 854 subscribers.

You will learn about Process of Accounting Rectification of Errors in Accounting – Types of Errors and Treatment for Rectification of Errors Example for rectification of errors before preparing Trial Balance Example for rectification of errors after preparing Trial Balance (2 Approaches) Example for Prior period adjustments This course is ideal for individuals who are Beginner who wants to learn about rectification of Errors It is particularly useful for Beginner who wants to learn about rectification of Errors.

Enroll now: Rectification of Errors in Accounting

Summary

Title: Rectification of Errors in Accounting

Price: Free

Average Rating: 4.5

Number of Lectures: 5

Number of Published Lectures: 5

Number of Curriculum Items: 5

Number of Published Curriculum Objects: 5

Original Price: Free

Quality Status: approved

Status: Live

What You Will Learn

Process of Accounting
Rectification of Errors in Accounting – Types of Errors and Treatment for Rectification of Errors
Example for rectification of errors before preparing Trial Balance
Example for rectification of errors after preparing Trial Balance (2 Approaches)
Example for Prior period adjustments

Who Should Attend

Beginner who wants to learn about rectification of Errors

Target Audiences

Beginner who wants to learn about rectification of Errors

This course enables to understand various types of errors in accounting, stages at which error is detected and rectification of errors.

This course includes pre-recorded video lectures explaining concepts and solved illustrations.

The Course contains one section and 5 lectures. It includes following concepts:

Explains process of accounting flow of financial transaction (Business transaction) from Journal Entry to Ledger account, Ledger account to Trial balance.

Explanation of Types of Errors – This includes Errors of Principle, Error of Omission- Complete Omission and Partial Omission, Error of Commission – Totaling Errors, Casting Error, Posting Error, Compensating Errors along with examples.

Explanation of stage at which error is detected. Errors may be detected before preparing a Trial balance OR After Preparing Trial balance but before preparing profit and loss account and balance sheet OR After Preparing Final accounts i.e Profit and Loss account and Balance sheet in Next accounting period.

Explanation of Accounting treatment depending on type of error and stage at which error is detected.

Solved Example on Rectification of Errors before preparing trial balance and accounting treatment for the same.

Solved Example on rectification of errors after preparing trial balance but before preparing profit and loss account and balance sheet and accounting treatment for the same

Solved example for prior period Item i.e., rectification of error after final accounts – Profit and Loss and balance sheet is prepared and closed.

Happy Learning

Vanijyavidya !!

Course Curriculum

Chapter 1: Introduction

Lecture 1: Process of Accounting

Lecture 2: Rectification of Errors – Basics

Lecture 3: Example for rectification of errors before preparing Trial Balance

Lecture 4: Example for rectification of errors after preparing Trial Balance (2 Approaches)

Lecture 5: Example for Prior period adjustments

Instructors

Akshata M
Chartered Accountant

Rating Distribution

1 stars: 0 votes
2 stars: 0 votes
3 stars: 6 votes
4 stars: 5 votes
5 stars: 16 votes

Frequently Asked Questions

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You can view and review the lecture materials indefinitely, like an on-demand channel.

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