Fra
imota
Registered Posts: 23 New contributor 🐸
Who can tell me, what does mean "as at" in the trial balance?
:tongue_smilie:
:tongue_smilie:
0
Comments
-
It just means the figures were true on the date given.
On all other days the accounts usually have different values. :001_smile:0 -
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.0 -
fra
Thank you for your help.:thumbup:0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 323 NEW! Qualifications 2022
- 165 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 88 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership