error of principle


error of principle
error of principle ˌerror of ˈprinciple noun errors of principle PLURALFORM [countable]
ACCOUNTING when an entry is put into the wrong kind of an account in a set of accounts, for example a receipt entered as a payment, or a purchase entered as a sale

* * *

error of principle UK US noun [C] ACCOUNTING
a mistake that consists of putting an amount into the wrong account in a set of accounts: »

An error of principle is when a transaction affects the same type of account, so does not apply if a debit and credit account are involved.


Financial and business terms. 2012.

Look at other dictionaries:

  • error in principle — error in principle, Bookkeeping. an error in placing an entry, especially in an incorrect account …   Useful english dictionary

  • principle — prin‧ci‧ple [ˈprɪnspl] noun 1. [countable, uncountable] a moral rule or set of ideas that makes you behave in a particular way: • The single European market works on market principles. • As a matter of principle (= a rule that is very important …   Financial and business terms

  • principle — principle, axiom, fundamental, law, theorem are comparable when they denote a proposition or other formulation stating a fact or a generalization accepted as true and basic. Principle applies to a generalization that provides a basis for… …   New Dictionary of Synonyms

  • Error catastrophe — is a term used to describe the extinction of an organism (often in the context of microorganisms such as viruses) as a result of excessive RNA mutations. The term specifically refers to the predictions of mathematical models similar to that… …   Wikipedia

  • Error management theory — Error Management is a theory that looks at history of cognitive biases throughout evolution. It was put forth by David Buss and Martie Haselton. Such biases and heuristics over the vast time line of evolutionary history could have only existed if …   Wikipedia

  • error — error, mistake, blunder, slip, lapse, faux pas, bull, howler, boner are comparable when they denote something (as an act, statement, or belief) that involves a departure from what is, or what is generally held to be, true, right, or proper. Error …   New Dictionary of Synonyms

  • Error detection and correction — In mathematics, computer science, telecommunication, and information theory, error detection and correction has great practical importance in maintaining data (information) integrity across noisy channels and less than reliable storage… …   Wikipedia

  • error — A mistaken judgment or incorrect belief as to the existence or effect of matters of fact, or a false or mistaken conception or application of the law. Such a mistaken or false conception or application of the law to the facts of a cause as will… …   Black's law dictionary

  • error — A mistaken judgment or incorrect belief as to the existence or effect of matters of fact, or a false or mistaken conception or application of the law. Such a mistaken or false conception or application of the law to the facts of a cause as will… …   Black's law dictionary

  • Principle of least privilege — In information security, computer science, and other fields, the principle of least privilege, also known as the principle of minimal privilege or just least privilege, requires that in a particular abstraction layer of a computing environment… …   Wikipedia