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Accounting for Non-Accountants, 10th Edition by David Horner

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05

Checking the double-entry system

Introduction

Within this chapter we will look at the various ways in which errors occur within the accounting system. We will also look at how the errors can be corrected as well as the checks and systems that are available for use which will speed up the location of errors. Specifically, we will look at the following two checks that can be used to detect exactly where an error has taken place. These are as follows:

  • bank reconciliation statements which serve to check the accuracy of the firm’s cashbook;
  • control accounts which check on the accuracy of the personal ledgers of the firm.

Before we look at these two checks on the system we will first look at errors in general and how these will need to be corrected. ...

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