Many of the currently available dynamic models for the two-wheeled balancing mobile robot have some common mistakes, which are mainly due to misunderstanding about the coordinate systems to describe the rotating motions and a lack of rigorous comparison with former derivations. This paper investigates the modeling procedures for the 2WBMR in terms of the Lagrangian approach and Kane's method, through which an exact dynamic model is given, and we discuss how the modeling errors in the former works were induced. Numerical examples are given to see the effect of the erroneous terms on the postural stability.