Difference Between Trial Balance AND Balance Sheet

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                                     Trial Balance

1. Trial balance is a technique to check the calculation accuracy of 
     "Books Ledger".

2.  It is not the part of "Final Accounts".        

3.  "Adjustment Entries" are not the part of trial balance.  

4.  There are 3 ways to prepare trial balance -
      a) Balance Method
      b) Total Method  
      c) Balance and Total Method






5.  If both sides total is equal then there are no any calculation mistakes in
     Ledger.

6.  It is not mandatory to prepare.

7.  It is only for "Internal Purpose".  






                                     Balance Sheet


1.  Balance Sheet is a "Statement to check Business Condition" as on date.

2.  It is one of "The Most Important part of Final Accounts".

3.  Adjustment Entries are "Undivided Part" of Balance Sheet.

4.  There are 2 ways to prepare balance sheet -
      a) Vertical Balance Sheet
      b) Horizontal Balance Sheet



5. Both sides total should be equal to manage Assets and Liability as well.

6. It is mandatory to prepare for every organization.

7. It is not only for "Internal but best source for External Stakeholders."




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