Accounting Error Correction (Counter-Balancing Correction, Accrued Wages & Prepaid Expense)
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11 سال پیش
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Accounting for a counter-balancing accounting
Accounting for a counter-balancing accounting errors, errors which are offset or corrected over two periods, example for (Accrued Wage Expense & Prepaid Insurance Expense), (1) failure to record accrued wages, (2) failure to record prepaid expense, example based on (1) books not closed for following year (make correcting entry) & (2) books closed for following year (make no correcting entry because error is counter-balanced, detailed accounting by Allen Mursau
11 سال پیش
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