CROPOC
- Created by: sarahlucyxo
- Created on: 17-04-15 09:47
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- CROPOC Errors
- Error of Ommision
- Where an entry is completely missed out of the accounting records.
- Error of Commission
- This is where the transaction is recorded correctly but in the wrong person's account.
- Error of Original Entry
- This is where the right account is used but the wrong amount of money is recorded.
- Error of Principle
- This is where the transaction is entered into the wrong type of account. For example) the motor expenses account instead of motors account.
- Reversal of Entries
- This is where Debits and Credits have been recorded on the wrong side.
- Compensating Error
- This is where two errors cancel each other out.
- Error of Ommision
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