Category Archives: Bookkeeping

How to Prepare Balance Sheet from Trial Balance in Excel

If you review the income statement, you see that net income is in fact $4,665. Presentation differences are most noticeable between the two forms of GAAP in the Balance Sheet. Under US GAAP there is no specific requirement on how accounts should be presented. IFRS requires that accounts be classified into current and noncurrent categories … Continue reading How to Prepare Balance Sheet from Trial Balance in Excel