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Interim Reporting for Merchandising Enterprises

6 May, 2015 - 17:39

Merchandising enterprises often prepare quarterly or monthly financial reports, called interim financial statements, which are useful to management. This requires the preparation of a trial balance, and an analysis of accounts to determine what adjustments are necessary. Once adjusting entries are entered on the work sheet, the adjusted trial balance is prepared. Interim financial statements are then prepared based upon the information that is provided by the work sheet.