Mistakes, fraud, falsification in accounting and financial reporting: a play on words or concepts?

The paper considers the problem that the idea of the facts of economic life that users receive from the reports diverge from the real situation. The purpose of the article is the primary systematization of the types and causes of reporting distortions. The paper presents the levels of inconsistency of facts and their disclosure, outlines the stages of the accounting process at which such inconsistencies may occur due to intent or negligence.