The statement of turnover and balances (trial balance) is an accounting document presenting all financial operations carried out during a given period on a specific account or group of accounts. It is a key tool for financial analysis and for controlling accounting operations. Key elements: Turnover \u2013 includes all inflows (debit) and outflows (credit); debit turnover increases the account balance, credit turnover decreases it. Balances \u2013 the final value showing the difference between debit and credit turnover; it can be positive (receivables) or negative (liabilities) and shows the actual state of the account at the end of the reporting period. Accounts \u2013 includes all ledger accounts on which turnover was posted during the year. Uses: Financial control \u2013 enables close monitoring of the flow of money in the company. Financial analysis \u2013 helps identify trends such as excessive spending or insufficient revenue. Basis for reporting \u2013 provides the basis for more detailed financial statements, such as the balance sheet or the profit and loss statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
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