TRIAL BALANCE Definition

Bookmark and Share

TRIAL BALANCE is a listing of the accounts in your general ledger and their balances as of a specified date. A trial balance is usually prepared at the end of an accounting period and is used to see if additional adjustments are required to any of the balances. Since the basic accounting system relies on double-entry bookkeeping, a trial balance will have the same total debit amount as it has total credit amounts.

Learn new Accounting Terms

GAO (Government Accountability Office) is the investigative arm of the United States Congress charged with examining matters relating to the receipt and payment of public funds.

MANAGEMENT INFORMATION SYSTEM (MIS) is a well-developed data management system that provides uniform organizational information from all areas of the entity within a database. Information within the database is manipulated to help management reach accurate and rapid organizational decisions.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.