
Available under Creative Commons-NonCommercial-ShareAlike 4.0 International License.
Minor accounting errors are usually caused by the use of estimates. These errors are considered to be normal and are also recurring. The effects of these errors should be reflected in the accounts of the current period. Material errors are caused by mathematical errors, improper use of accounting principles, misuse of facts, etc. The treatment of material errors depends on when they have been discovered.
- 1574 reads