Difference between Trial Balance and Balance Sheet Trial Balance Vs Balance Sheet Trial Balance: The Trial balance is prepared by extracted the balances from the ledger accounts, it shows the summary of the ledger accounts but does not show the financial position of a business. It is usually prepared at the end of an […]
What is profit and loss account and balance sheet
What is profit and loss account and balance sheet First we have proved the arithmetical accuracy of ledger by means of trial balance and now we proved to ascertain our final accounts i.e Profit and loss account and balance sheet. In order to determine the profit and loss of a business and its financial […]
60+ Basic Accounting Terms Dictionary
What are the Basic Accounting Terms and its meaning: Basic Accounting Terms are very important for Accounting’s beginner to understand it. before starts learning to account one must read and learn all the terms to understand accounting well. Basic Accounting terminologies include all those important terms which are frequently used while studying financial accounting. These terms […]