At the end of each accounting period, a business makes adjustments to certain accounts to update its records before preparing its financial statements. An unadjusted trial balance is a chart that ...

At the end of each reporting period, accountants and bookkeepers verify the records of a business' transactions -- its debits and credits -- for that period. Once this is complete, this ledger is ...

Balance-sheet balances carry over from one period to the next. So the ending cash balance from last year will become the beginning cash balance this year. Throughout the year, transactions will ...