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Rectification of Errors

The information regarding arithmetical errors in preparing a journal, posting in the ledger and extracting balance of accounts can be obtained by preparing a trial balance.

If debit side and credit side of trial balance tallies, it is believed that there is no arithmetical error recording the transactions and posting and extracting balance of accounts. But if the trial balance does not tally, there must be some errors in writing books of accounts and the errors are detected and rectified. In fact, the trial balance is not a final yardstick of accounting errors. Even if the trial balance tallies, it is quite possible that errors may have been committed while preparing accounts. Thus the errors affecting trial balance and errors not affecting trial balance must be detected and rectified. The accounts will reveal the true picture of business only when these errors are rectified. This process is inevitable. The process of detecting errors in accounts and rectifying them is called Rectification of Errors.

Course Includes-

• Video Lectures (Approx time- 180 min) on Rectification of Errors
• Textual Sums with Solution
• Notes including the solution (PDF)
• Exercise Sums (PDF)
• Quiz (Coming Soon)

The outcome of the Course:

• Passing Rectification Entries.
• How to rectify the errors affecting trial balance
• How to rectify the errors not affecting trial balance
• Preparing rectified trial balance
• Preparing suspense accounts
• Calculating the rectified profit.

Language: Hindi and English

The learner will be allowed to view the course two times.  

Querry will be solved if posted in the forum with #rectificationoferrors.

 

Note:-

This Course focuses on Gujarat Board curriculum.