Types Of Accounting Errors

Accounting errors can be classified into two types according to their common characteristics. These are as follows:

1. Types Of Accounting Errors Based On Their Nature

*Clerical Error
-Errors of omission
-Errors of commission
-Compensating errors
- Errors of duplication
* Errors Of Principle

2. Types Accounting Errors Based On Disclosure By Trial Balance

* Errors shown by trial balance
* Errors not shown by trial balance