Accounting Basics

Topic 2: Control Procedures and the Trial Balance

This unit covers the preparation and use of a trial balance, including its limitations. Students will learn about control accounts for trade receivables and payables, along with their role in verifying ledger accuracy. The unit also explores the correction of errors that affect the trial balance, journal entries to rectify mistakes, and the use of suspense accounts. Finally, students will be introduced to statements of revised profit and how errors in control accounts are corrected.

company

topics

Accounting Basics

Accounting Advanced