balance sheet

Learn how to prepare a balance sheet for your business. Understand the components of a balance sheet, how to create one, and the importance of keeping accurate records. “

Learn how to prepare a trial balance for your accounting records. Understand the importance of a trial balance and the steps to create one accurately. “

Learn how to create fraudulent financial statements and the potential consequences of doing so. Understand the legal implications and how to protect yourself from fraud. “

The difference between a General Ledger and a Trial Balance is an important concept to understand for any business. A General Ledger is a record of all financial transactions that have occurred within a company, while a Trial Balance is a summary of the balances in each account of the General Ledger. The Trial Balance is a snapshot of the General Ledger at a specific point in time. It is important to understand the difference between the two, as they are both essential for accurate financial reporting.

Accumulated depreciation is an accounting concept that is used to track the depreciation of an asset over its useful life. It is a non-cash expense that is recorded on the balance sheet as a reduction of the asset’s value.