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Control account reconciliation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Control account reconciliation

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by AvatarJohn Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • December 4, 2018 at 11:52 am #487166
    Avatarleeds627
    Member
    • Topics: 24
    • Replies: 23
    • ☆

    Please correct me if my understanding is wrong

    So there’s a balance in a control a/c and the personal ledgers.

    A miscalculation of the total of the Day books will only affect the control account,whereas a transposition error in the Day books will affect both the control account and the personal ledger balance.

    Is this correct sir?

    What error only affects the personal ledger balances?

    December 4, 2018 at 2:48 pm #487213
    AvatarJohn Moffat
    Keymaster
    • Topics: 57
    • Replies: 54846
    • ☆☆☆☆☆

    What you have written is correct.

    An example of an error that only affects the personal ledger balances is the correct figure having been entered in the day book, but copied incorrectly into the personal ledger.

    December 4, 2018 at 4:54 pm #487273
    Avatarleeds627
    Member
    • Topics: 24
    • Replies: 23
    • ☆

    Thank you sir. Was just confirming if what i was doing was right.

    December 5, 2018 at 6:35 am #487384
    AvatarJohn Moffat
    Keymaster
    • Topics: 57
    • Replies: 54846
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Control account reconciliation’ is closed to new replies.

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