We use backward error analysis for differential equations to obtain modified or distorted equations describing the behaviour of the Newmark scheme applied to the transient structural dynamics equation. Based on the newly derived distorted equations, we give expressions for the numerically or algorithmically distorted stiffness and damping matrices of a system simulated using the Newmark scheme. Using these results, we show how to construct compensation terms from the original parameters of the system, which improve the performance of Newmark simulations. The required compensation terms turn out to be slight modifications to the original system parameters (e.g. the damping or stiffness matrices), and can be applied without changing the time step or modifying the scheme itself. Two such compensations are given: one eliminates numerical damping, while the other achieves fourth-order accurate calculations using the traditionally second-order Newmark method. The performance of both compensation methods is evaluated numerically to demonstrate their validity, and they are compared to the uncompensated Newmark method, the generalized-$\alpha$ method and the 4th-order Runge--Kutta scheme.
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