Business GCSE
Opening and closing balances
What Opening and closing balances means in Business GCSE, as defined for AQA.
Definition of Opening and closing balances
Check what you remember
Read the wording for your board, then hide it and explain Opening and closing balances in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The opening balance is cash held at the period's start, and the closing balance is opening balance plus net cash flow, becoming the next period's opening balance.
Topics that use Opening and closing balances
- Cash flow (AQA GCSE)
Related terms
- Cash
- Cash Flow
- Cash Flow Forecast
- Cash flow management
- Cash inflows and outflows
- Closing balance
- Cost control
- Evaluation and judgement
Using Opening and closing balances in the exam
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