CASH CAB

 The equality of debits and credits in the ledger should be verified at the end of each accounting period, if not more often. If fraudulent financial statements are suspected, a verification of the equality of debits and credits also is one of the first steps. Frauds often result in books that don’t balance. Such a verification, which is called a trial balance, may be in the form of a calculator tape or in the form of a summary listing of both the balances and the titles of the accounts used in preparing the financial statements.