Balace carried and brought foward

Hi all

I prepping for a resit! nice!
Quick question though...ive only ever dealt with opening and closing balances for the CBE practise papers on the AAT website deal with balance bfwd and cfwd. Which one is opening and closing bal??!

Im thinking carried is opening and brought foward is closing but i am all confused.

Thnaks for any help

Sarah

Comments

  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    Brought forward is opening and carried forward is closing - just remember they go in alphabetical order.
  • bagpuss3008
    bagpuss3008 Registered Posts: 32 ? ? ?
    thanks Blue Wednesday, very useful :-)
  • AK002
    AK002 Registered Posts: 2,492
    Yup, i just remember it as..

    Brought forward - you are bringing forward the balance from the previous year

    Carried forward - you are carry the balance to the next year
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