Glossary entry (derived from question below)
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!
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!
Proposed translations
(English)
5 +5 | Trial balance for balances and totals | Richard Cadena |
3 | trial balance sheet | Juan Arturo Blackmore Zerón |
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
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
Reference:
4 KudoZ points awarded for this answer.
Comment: "Selected automatically based on peer agreement."
36 mins
Something went wrong...