In accounting, balance is crucial, and discrepancies signal issues needing investigation.
One of accounting's central concepts is that the fundamental equation must always balance, known as double-entry bookkeeping. Any discrepancy like Glutcorp recording -1,000,000 but Slushco recording +920,000 indicates a problem and is a red flag for investigation. The financial account balance is derived from summing the credit and debit entries, which should equal zero in balanced accounting.
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