Errors and Correction of Errors

Errors Which do not Affect the Trial Balance

Accounting errors that do not affect the trial balance fall into one of six categories as follows:

1. Error of Principle
2. Errors of Omission
3. Error of Commission
4. Compensating Error
5. Error of Original Entry
6. Complete Reversal of Entries

You can also refer to the video below which I've made specially for you. Even though the video is not really good but still it was made in front of small audiences. So stay put. It has Part 1 and Part 2.

Part 1

Part 2