Glossary entry

Spanish term or phrase:

Balance de Comprobación por saldos y por totales

English translation:

Trial balance for balances and totals

Added to glossary by Richard Cadena
Sep 12, 2019 22:42
4 yrs ago
3 viewers *
Spanish term

Balance de Comprobación por saldos y por totales

Spanish to English Social Sciences Accounting Course Description
Hello Everyone,
I am translating an Accounting and Finance course description from the University of Havana.
The above term is included in the contents of the course.
Thank you for your suggestions!
Change log

Sep 26, 2019 04:09: Richard Cadena Created KOG entry

Proposed translations

+5
26 mins
Selected

Trial balance for balances and totals

Balance de comprobación or Balanza de comprobacion is a "trial balance"

The following definition appears in the web site listed below:

https://www.accountingcoach.com/blog/what-is-a-trial-balance

Examples of the Trial Balance's Use
The trial balance is not a financial statement. It is mainly an internal report that is/was useful in a manual accounting system. If the trial balance did not "balance" it signaled an error somewhere between the journal and the trial balance. Often the cause of the difference was a miscalculation of an account balance, posting a debit amount as a credit (or vice versa), transposing digits within an amount when posting or preparing the trial balance, etc.

Today's accounting software has been written to eliminate those errors. Hence, the trial balance is less important for bookkeeping purposes since it is almost certain that the general ledger and the trial balance will have the debits equal to the credits.

The trial balance continues to be useful for auditors and accountants who wish to show 1) the general ledger account balances prior to their proposed adjustments, 2) their proposed adjustments, and 3) all of the account balances after the proposed adjustments. The adjusted amounts make up the adjusted trial balance, and the adjusted amounts will be used in the organization's financial statements.

Other references

Spanish-English Dictionary of Law and Business, 2nd edition, Thomas L. West III

Diccionario de Terminología Contable y Financiera Especializada / Spanish-English & Inglés-Español, Prof. Richard J. Cadena, publicado por el Instituto Mexicano de Contadores Públicos, A.C.

Diccionario de Negocios Modernos / Español-Inglés & Inglés-Español, Louis A. Robb

Hope this helps
Peer comment(s):

agree Andy Watkinson
1 hr
Thank you, Andy.
agree Manuel Aburto
1 hr
Muchas gracias, Manuel.
agree Luis M. Sosa : Thanks for reminding us about accounting in the old days.
19 hrs
You're most welcome, Luis.
agree Jarrett Smith : No question about it, this is an accurta translation.
1 day 15 hrs
Thank you Jarrett. A trial balance and a balance sheet are two very different ball games. Saludos desde México.
agree Adrian MM.
2 days 18 hrs
Thank you, Adrian.
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4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
36 mins

trial balance sheet

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