What is another word for trial balance?
Pronunciation: [tɹˈa͡ɪə͡l bˈaləns] (IPA) 
Trial balance refers to a statement that lists the balances of all accounts in a ledger in order to ensure that the total of all debits equals the total of all credits. There are a few synonyms for trial balance, such as 'statement of financial position', 'balance sheet', 'statement of financial condition', and 'statement of assets and liabilities'. These terms are used to describe the same concept, but they might be more familiar to different types of users. Furthermore, the specific format and presentation of the statement might differ depending on the reporting standards or regulations applicable to the organization. Regardless of the name used, trial balance is a crucial tool for organizations to ensure the accuracy of their financial reporting.
