20Nov, 2020

What is a Trial Balance?

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Once a business has an empty cash register and negative balances on its bank statements, it has no choice but to shut the door for good. Tax accountants and auditors also use this report to prepare tax returns and begin the audit process. A trial balance report is essential for interpreting the financial results of any business—whether you’re a start-up or an established multinational corporation. Other types of errors may go undetected in this accounting process. One of the most well-known financial schemes is that involving the companies Enron Corporation […]