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
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| 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 |
