Ch 11: Accounting Changes & Errors

About This Chapter

Review accounting adjustments and common errors with the short lessons found in this chapter. Use this resource as a study aid for business or accounting class discussions or to prepare for an exam.

Accounting Changes and Errors - Chapter Summary

Learn more about the effects of accounting errors, how to identify these errors and how to make account adjustments with the help of this chapter. Get facts about trial balance errors and adjustments and find out how to create closing entries. You can go over the lessons as many times as needed and even contact our expert instructors with any questions regarding these topics. Take the self-assessment quizzes to determine how much you have retained from each lesson, and track your progress on your Dashboard. Once your review of this chapter is complete, you should be able to:

  • Identify different types of accounting errors
  • Describe the importance of adjusting accounting entries
  • Relate information about the use of notes in financial statements
  • Detail the process involved in generating closing entries
  • Define adjusted trial balance
  • Prepare a post-closing trial balance

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