Balace carried and brought foward

bagpuss3008

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

Bluewednesday

Brought forward is opening and carried forward is closing - just remember they go in alphabetical order.

bagpuss3008

thanks Blue Wednesday, very useful :-)

AK002

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