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Trial balance

A trial balance lists ledger balances at a date to test whether total debits equal total credits. Extract the closing debit and credit balances from the ledger and add each column. If totals differ, investigate posting and arithmetic errors; a temporary suspense balance may be used while the cause is found. Even matching totals require further checks of completeness and classification. A balance omitted entirely from both columns may leave the totals equal despite the error.

Worked example

Debit balances of 1,000 and credit balances of 1,000 agree arithmetically.

Common mistake

Agreement does not prove accuracy: complete omissions, wrong accounts and compensating errors can remain.

Where it appears in your exams

QualificationExamRelationshipPeriod
ACCA F1 Direct July 2027–August 2028
ACCA FA Direct September 2026–June 2027
ACCA K1 Direct July 2027–August 2028
CIMA BA3 Direct Official assessment-window verification pending
FIA FFA Direct September 2026–June 2027

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