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Adjustments Column
A column in accounting ledgers or tables used to record changes or corrections to initial entries prior to preparing financial statements.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to ensure a company's bookkeeping system is mathematically correct.
Accounting Cycle
The comprehensive process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation on the financial statements.
Adjusted Trial Balance
A version of the trial balance that reflects account balances after adjustments are made for accruals, deferrals, and errors.
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