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📚 In this video, we break down one of the most commonly tested and practically important topics in financial accounting — Suspense Account and Error Correction. ✨ What You’ll Learn: 🔸 What is a Suspense Account and why it’s created. 🔸 Types of errors in accounting (errors of omission, commission, principle, compensating errors, etc.). 🔸 Which errors affect the trial balance and which do not. 🔸 How to locate and correct errors systematically. 🔸 Step-by-step journal entries to clear the suspense account. 🔸 Practical illustrations and exam-oriented tips for ACCA FA, CA Foundation, and CMA Inter exams. 🧾 Why This Matters: Understanding suspense accounts is crucial not just for exams, but also in real-world accounting — where errors often occur during posting and balancing. 🎯 Perfect for: ACCA FA (Financial Accounting) students CA Foundation students CMA Intermediate students Beginners who want to strengthen their trial balance and error correction concepts ✅ Don’t forget: Like 👍 Subscribe 🔔 for more accounting lessons Comment below with any doubts or topics you’d like covered next!