Chapter 4d

Accounting Process – From Journal to Trial Balance

LEARNING OBJECTIVES

At the end of the chapter, you would be able to understand

  1. What a Trial Balance Really Means

  2. Objectives and Salient Features of a Trial Balance

  3. Methods of Preparation of Trial Balance. Preparation of a Trial Balance by Applying “Balances Method”

  4. Concept of Errors – Kinds of Errors – Classification of Errors – Rectification of Errors

  5. Various Steps Involved in Locating the Errors in a Trial Balance

  6. Meaning of Suspense Account and Its Accounting Treatment

  7. To Record Various Transactions (Passing Entries into Journal), Classify These Trans-actions Under Various Heads of Account (Posting to Ledger) and Balancing Them, Some Important Subsidiary Books and Procedure ...

Get Financial Accounting now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.