1. The Worksheet BAF3M: Chapter 4 Unit 9
A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the accounting cycle. That means the public never sees a company’s worksheets.

2. Why is it used?
It’s useful because it contains information for all of the last steps of the accounting cycle, all in one place.
This simplifies the completion of the cycle, and makes finding errors and discrepancies even easier.

4. What Does It Look Like?
If you look at the completed worksheet shown below, you can see that there are four sections (two columns in each). From left to right they are:
1. Trial Balance
2. Adjustments
3. Income Statement
4. Balance Sheet

5. Worksheet Example

6. If they don’t, you have made a mistake!
Important Hints
IMPORTANT HINT: The net income figure, as well as every single individual account balance on your worksheet MUST agree with the account balances on your formal:
1. Income Statement;
2. Balance Sheet;
3. Adjusting and closing journal entries.
If they don’t, you have made a mistake!

7. Practice
SSD:
How to make a worksheet
(HTML document)