- Some events are not recorded daily because it is not efficient to do so. Examples are the use of supplies and the earning of wages by employees.
- Some costs are not recorded during the accounting period because these costs expire with the passage of time rather than as a result of recurring daily transactions. Examples are charges related to the use of buildings and equipment, rent, and insurance.
- Some items may be unrecorded. An example is a utility service bill that will not be received until the next accounting period.