Corrected example sentences

In case the deviation cannot be corrected through managerial action, the standards may have to be revised.An error in an amount posted to the correct ledger account may also be corrected in a similar way, or by making an additional posting for the difference in amount and giving an explanatory note in the particulars column.But errors should never be corrected by erasing or overwriting reduces the authenticity of accounting records and give an impression that something is being concealed.An error in the books of original entry, if discovered before it is posted to the ledger, may be corrected by crossing out the wrong amount by a single line and writing the correct amount above the crossed amount and initialling it.The error (or errors) needs to be located and corrected before preparing the financial statements.