Rectification of Errors Class 11 Accountancy |Types, Examples & Suspense Account |CBSE Chapter 17 P1

Описание: Learn Rectification of Errors in Class 11 Accountancy — types of errors, suspense account, and easy methods to correct accounting mistakes. #CBSE #Accounts

Part 1 of 2

In this video, learn Rectification of Errors in accounting — a crucial topic from Class 11 Accountancy (CBSE syllabus). We’ll understand how errors occur in books of accounts and the methods to identify and correct them with practical examples.

🧾 This video covers:
1️⃣ Classification of Errors — Errors of Omission, Errors of Commission, Errors of Principle, and Compensating Errors
2️⃣ Errors affecting the Trial Balance (One-sided Errors)
3️⃣ Errors not affecting the Trial Balance (Two-sided Errors)
4️⃣ Locating and Detecting Errors in accounts
5️⃣ Rectification of Errors —
a. Before preparation of Trial Balance
b. After preparation of Trial Balance but before Final Accounts
6️⃣ Suspense Account — meaning, use, and examples

💡 Key Learning Outcomes:
Understand types and causes of accounting errors
Learn how to correct accounting mistakes through rectification entries
Grasp the concept of Suspense Account in real business situations

📚 Useful for: Class 11 CBSE | ISC | State Boards | Beginners in Accounting

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0:00 Introduction - Mithailal passes a wrong Entry
3:08 Definition and Goals of Rectification of Errors
4:09 Process/ Method for Rectification of Errors
12:12 Types of Errors Explained
13:37 Errors of Omission Explained
15:26 Error of Commission Explained
23:43 Error of Principle Explained
27:00 Compensating Errors Explained
28:57 Single-Sided Errors Explained
34:07 Suspense Account Explained
36:29 Both-Side Errors Explained
38:27 Examples – Omission Error
40:40 Examples – Commission Error
51:23 Examples – Principle Error