Accounting problems are challenges that can arise when accounting records do not accurately reflect the financial activities of a business. These issues can include errors in asset and liability valuations, errors made in revenue recognition, or inaccuracies in reporting taxes. Accounting problems often occur when businesses lack sufficient oversight or controls over their financial operations, leading to inaccurate bookkeeping practices. Businesses should always strive to ensure accurate accounting records, as it is key to making sound financial decisions.