3. Trial Balance Representation
• Orthogonal to
• Accounting Equation
• SFAC 6 Elements of Financial Statements
• Common Elements of Financial Statements
• TWO purposes
• 1) To test roll forwards and make a point
• 2) To test connection between trial balance and report
4. Trial Balance
• Terms added
• Cash and Cash Equivalents
• Receivables
• Inventories
• Property, Plant and Equipment
• Accounts Payable
• Long-term Debt
• PLUS all the roll forwards for each account