Difference between revisions of "Post-closing trial balance"
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Revision as of 08:18, 20 December 2018
Post-closing trial balance is the final step in the accounting cycle that lists only permanent accounts in the ledger and their balances after adjusting and closing entries have been posted.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Post-closing trial balance. The final step in the accounting cycle that lists only permanent accounts in the ledger and their balances after adjusting and closing entries have been posted.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
