CORRECTION OF ERRORS

YEAR 10
REVISIONS LESSON 2, WEEK 6
 Be able to correct errors by
means of journal entries
 Explain the use of a
suspense account as a
STARTER ACTIVITY
temporary measure to
balance the trial balance
(5 minutes)
 Correct errors by means of
suspense accounts
In a group of three, discuss and
 Adjust a profit or loss for
an accounting period after present your answer to the class.
the correction of errors
 Understand the effect of
correction of errors on a A trial balance is not always destined
statement of financial
position
to balance, explain why by giving
examples!
 CORRECTION OF ERRORS
YEAR 10
REVISIONS 2. Errors that do not affect the
 Be able to correct errors by
means of journal entries
trial balance.
 Explain the use of a
suspense account as a
temporary measure to
balance the trial balance There are six (6) errors that do
 Correct errors by means of
suspense accounts not affect the trial balance.
 Adjust a profit or loss for
an accounting period after
the correction of errors
 Understand the effect of
correction of errors on a
statement of financial
position
 CORRECTION OF ERRORS
There are six (6) errors that do not affect the trial balance
YEAR 10
REVISIONS
 Be able to correct errors by
means of journal entries
 Explain the use of a
suspense account as a
temporary measure to
balance the trial balance
 Correct errors by means of
suspense accounts
 Adjust a profit or loss for an
accounting period after the
correction of errors
 Understand the effect of
correction of errors on a
statement of financial
position
 CORRECTION OF ERRORS

There are six (6) errors that do not affect the trial
balance..continuation
YEAR 10
REVISIONS
 Be able to correct errors
by means of journal
entries
 Explain the use of a
suspense account as a
temporary measure to
balance the trial balance
 Correct errors by means
of suspense accounts
 Adjust a profit or loss for
an accounting period after
the correction of errors
 Understand the effect of
correction of errors on a
statement of financial
position
 CORRECTION OF ERRORS

YEAR 10
REVISIONS
 Be able to correct errors
by means of journal
entries
 Explain the use of a
suspense account as a
temporary measure to
balance the trial balance
 Correct errors by means
of suspense accounts
 Adjust a profit or loss for
an accounting period after
the correction of errors
 Understand the effect of
correction of errors on a
statement of financial
position