Balance de Comprobación por saldos y por totales
English translation: Trial balance for balances and totals
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| 22:42 Sep 12, 2019 |
| Spanish to English translations [PRO] Social Sciences - Accounting / Course Description | |||||||
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|  Selected response from: Richard Cadena Mexico Local time: 03:00 | ||||||
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| 5 +5 | Trial balance for balances and totals |
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| 3 | trial balance sheet |
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Answers
26 mins confidence: 
peer agreement (net): +5
peer agreement (net): +5Trial balance for balances and totals Explanation: Balance de comprobación or Balanza de comprobacion is a "trial balance" The following definition appears in the web site listed below: https://www.accountingcoach.com/blog/what-is-a-trial-balance Examples of the Trial Balance's Use The trial balance is not a financial statement. It is mainly an internal report that is/was useful in a manual accounting system. If the trial balance did not "balance" it signaled an error somewhere between the journal and the trial balance. Often the cause of the difference was a miscalculation of an account balance, posting a debit amount as a credit (or vice versa), transposing digits within an amount when posting or preparing the trial balance, etc. Today's accounting software has been written to eliminate those errors. Hence, the trial balance is less important for bookkeeping purposes since it is almost certain that the general ledger and the trial balance will have the debits equal to the credits. The trial balance continues to be useful for auditors and accountants who wish to show 1) the general ledger account balances prior to their proposed adjustments, 2) their proposed adjustments, and 3) all of the account balances after the proposed adjustments. The adjusted amounts make up the adjusted trial balance, and the adjusted amounts will be used in the organization's financial statements. Other references Spanish-English Dictionary of Law and Business, 2nd edition, Thomas L. West III Diccionario de Terminología Contable y Financiera Especializada / Spanish-English & Inglés-Español, Prof. Richard J. Cadena, publicado por el Instituto Mexicano de Contadores Públicos, A.C. Diccionario de Negocios Modernos / Español-Inglés & Inglés-Español, Louis A. Robb Hope this helps Reference: http://aicpa.org Reference: http://imcp.org.mx |
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