You have been hired by a small business to help with accounting records. A group of non-accounting professionals within your organization approach you with questions they have about these records. How would you train them on the following:

1. Brief summary of major concepts found in Chapters 1 and 2
2. What is a trial balance and what is its purpose?
3. How is the balance sheet derived from the trial balance?

In Chapters 1 and 2 of the Wild, J., & Shaw, K. (2022) text, you learned about double entry accounting and preparation of financial statements. View the following YouTube videos.