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error of omission

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › error of omission

  • This topic has 1 reply, 1 voice, and was last updated 14 years ago by Vipin .
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  • November 8, 2011 at 8:47 pm #50393
    Vipin
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    • Topics: 151
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    The cash discount totals for the month of September 20X8 had not been posted to the general ledger accounts. The figures were:
    Discount allowed $836
    Discount received $919

    the above example is discussed in technical article of acca webpage. according to me, it should be error of omission but they do not take it as error of omission. can anybody tell the reason.?

    November 14, 2011 at 7:30 pm #89481
    Vipin
    Member
    • Topics: 151
    • Replies: 365
    • ☆☆☆☆

    this is error of posting as they failed to post from records to accounts.

    error of ommision is when they fail to record from original documents(invoice, credit note) to records(books of prime entry).

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