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Session Objectives
Identify the purpose of a trial balance Extract ledger balances into a trial balance Prepare extracts of an opening trial balance Identify and understand the limitations of a trial balance Illustrate process of adjusting the financial statements for accruals and prepayments, depreciation, irrecoverable debts and allowances for receivables
accountingclassroom.com 2008
accountingclassroom.com 2008
Trial Balance
Trial balance is a statement of general ledger accounts that enables an accountant to confirm whether amounts debited equal amounts credited.
accountingclassroom.com 2008
accountingclassroom.com 2008
Adjustments Required
Closing inventory Depreciation Accruals Prepayments Irrecoverable Debts Allowance for Receivables
accountingclassroom.com 2008
accountingclassroom.com 2008
accountingclassroom.com 2008
accountingclassroom.com 2008
accountingclassroom.com 2008
accountingclassroom.com 2008
accountingclassroom.com 2008
accountingclassroom.com 2008