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:

Brief summary of major concepts found in Chapters 1 and 2 of the Wild, J., & Shaw, K. (2022) textbook

What is a trial balance and what is its purpose?

How is the balance sheet derived from the trial balance?

While you are explaining, provide them with a fictitious numerical example demonstrating each point.