Talk:Error account
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GAAP
This page needs to be kept as it relates to accounting aka GAAP.
Eyreland (talk) 23:41, 27 March 2009 (UTC)
Error accounts relate to two different realms
- Accounting
- Data Processing aka Transaction processing
There is also a cultural and economic component that has to be considered
- Max Keiser has implicated the use of error accounts in the late 2000s recession, as an important causal factor
- Balance is important, as this account type is accepted under Generally Accepted Accounting Principles
Future editors should flesh out the definition as much as possible.