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What is Accounting Adjustments: Stock & Accruals about?

The document discusses adjustments that need to be made after preparing a trial balance at the end of an accounting period. These include adjustments for stock, accruals, and prepayments. Stock refers to inventory and adjustments involve calculating opening and closing stock amounts. Accruals estimate expenses that have been incurred but not yet invoiced. Prepayments are expenses that have been paid for but relate to the next accounting period. The adjustments are applied to the trial balance, profit and lo

Author

Zyad Bashsasha

Language

EN