Business Accounting

Reasons for the discrepancies:
Book Record
error of omission - omit to record the entry
incorrect value - record the incorrect value
double error - record the entry twice

Physical count
physical loss
loss by theft
incorrect counting

What is the error found? stock, cash?
adjustment entry
error of omission - omit to record the entry
Record the entry again

incorrect value - record the incorrect value
record the entry with the difference amount

double error - record the entry twice
reverse the entry

Physical count
physical loss
loss by theft

-> only one adjustment entry
Dr. Loss of Stock
Cr. Stock

incorrect counting
no need to have adjustment entry