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2. Balance sheet - Wikipedia

   en.wikipedia.org/wiki/Balance_sheet

   Balance sheet substantiation is the accounting process conducted by businesses on a regular basis to confirm that the balances held in the primary accounting system of record (e.g. SAP, Oracle, other ERP system's General Ledger) are reconciled (in balance with) with the balance and transaction records held in the same or supporting sub-systems.

3. Financial accounting - Wikipedia

   en.wikipedia.org/wiki/Financial_accounting

   The trial balance, which is usually prepared using the double-entry accounting system, forms the basis for preparing the financial statements. All the figures in the trial balance are rearranged to prepare a profit & loss statement and balance sheet. Accounting standards determine the format for these accounts (SSAP, FRS, IFRS). Financial ...

4. Financial statement - Wikipedia

   en.wikipedia.org/wiki/Financial_statement

   Historical financial statements. Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.

5. How Accounts Payable Are Recorded on a Balance Sheet - AOL

   www.aol.com/accounts-payable-recorded-balance...

   For example, the accounts payable amount of $500 for a tool purchase belongs on the liabilities side of the balance sheet. But the value of the tool itself belongs on the assets side of the ...

6. Accounting equation - Wikipedia

   en.wikipedia.org/wiki/Accounting_equation

   Since the balance sheet is founded on the principles of the accounting equation, this equation can also be said to be responsible for estimating the net worth of an entire company. The fundamental components of the accounting equation include the calculation of both company holdings and company debts; thus, it allows owners to gauge the total ...

7. Balance (accounting) - Wikipedia

   en.wikipedia.org/wiki/Balance_(accounting)

   In banking and accounting, the balance is the amount of money owed (or due) on an account. In bookkeeping, "balance" is the difference between the sum of debit entries and the sum of credit entries entered into an account during a financial period. [1] When total debits exceed the total credits, the account indicates a debit balance.