AFM: Concepts and Practice · Part A: Accounting Principles and Processes

Chapter 4: Trial balance, errors, adjusting and closing entries

What a trial balance proves, how to find and correct errors, and how to adjust and close the books at the year end.

Buyers of the e-book, or of the print copy, which includes it, read the whole chapter. Everyone can read the free sample, pages 1 to 24 of the e-book.

In this chapter

• 4.1The trial balancep. 45
• 4.2Errors, and which ones the trial balance showsp. 46
• 4.3Rectifying errorsp. 47
• 4.4Year-end adjustmentsp. 48
• 4.5Closing the booksp. 49
• Exam traps and quick checksp. 50
• Practice: 16 questions in three roundsp. 51
• Answers, with every wrong option explainedp. 53
• Make it stickp. 55
• Chapter 4 on one pagep. 56

Corrections and updates

None for this chapter so far. Every correction to the book, and any rule that changes after its date, is listed on the errata page.