# Out-of-period adjustment

> Out-of-period adjustment — Correcting a prior-period error in the current period, permitted only when the error is immaterial to both periods.

Source: https://lopifi.com/glossary/out-of-period-adjustment
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is out-of-period adjustment?** In accounting, out-of-period adjustment means correcting a prior-period error in the current period, permitted only when the error is immaterial to both periods.

## Words this system refuses for it

- catch-up
- plug

- **Category:** Close
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** period