A trial balance is a statement of debit & credit balance of the ledger accounts which is prepared in order to prove the arithmetical accuracy which is prepared in order to prove the arithmetical accuracy of the books of account.
This note has information about trial balance and its objectives.
Accounting errors means the errors and mistakes which are committed in recording or posting the transactions due to carelessness, lack of accounting knowledge or bad intention of the staffs.
This note has information about accounting errors.
Disagreement of the trial balance is the indication for the existence of accounting errors in the book of accounts. In the absence of the agreement of the trial balance, final accounts cannot be prepared. Hence, the errors should be located and rectified as early as possible.
This note has information about locating of errors n the trial balance.