Fra

imota
imota Registered Posts: 23 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
Who can tell me, what does mean "as at" in the trial balance?
:tongue_smilie:

Comments

  • definite.studies
    definite.studies Registered Posts: 88 Regular contributor ⭐
    It just means the figures were true on the date given.

    On all other days the accounts usually have different values. :001_smile:
  • visha
    visha Registered Posts: 218 Dedicated contributor 🦉
    The profit and Loss title has wording “for the year (period) end” 31st December 2008.

    The words in the equations marks is the application of the “Accruals concept”. – matching income and expenses for an accounting period that starts on 1st January (year start) and ending on 31st December (year end)

    But the Balance Sheet heading will have words “as at” 31st December 2008.

    The words “as at” is a point in time. It is a snap shot, just like a photograph. Just like as at 21st November 1992 I had a nice plume of hair on my head. I was more attractive but less wise. But as at 21st November 2008 I don’t need a number 1 cut. It’s natural. I am still attractive but wiser.

    The balance sheet is a snap shot of a business’s assets and liabilities on a given date. It will change the next day. Eg a creditor may have been paid off or a debtor may have settled his account with us. Thus the currents assets position will not be the same as yesterday. The balance sheet changes all the time.
  • imota
    imota Registered Posts: 23 New contributor 🐸
    fra

    Thank you for your help.:thumbup:

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