In this episode of Debit, Credit, Done! we dive deep into the theory of suspense accounts and error correction for AAT Level 3 Financial Accounting: Preparing Financial Statements.

We cover:

• Why suspense accounts are created

• The difference between errors that affect the trial balance and those that don’t

• The two-step process for correcting errors

• Why suspense must always be cleared to nil

• The most common AAT exam pitfalls

Unlike previous episodes, this one is all about concepts and theory — no worked examples, just the core principles you need to understand for exams and real-world practice.

🎙️ Perfect for revision, refreshing your knowledge, and building exam confidence.