Virtual endoscopy is a promising medical application for volume-rendering techniques where perspective projection is mandatory. Most of the acceleration techniques for direct volume rendering use parallel projection. This paper presents an algorithm to approximate perspective volume rendering using parallel projected slabs. The introduced error due to the approximation is investigated. An analytical study of the maximum and average error is made. This method is applied to VolumePro 500. Based on the error analysis, the basic algorithm is improved. This improvement increases the frame rate, keeping the global maximum error bounded. The usability of the algorithm is shown through the virtual endoscopic investigation of various types of medical data sets.