Final answer:
Hospitality accounting staff prepare a trial balance to verify that debits and credits are balanced, which is essential before creating financial statements. This includes ensuring accuracy in figures related to the current account balance.
Step-by-step explanation:
Hospitality accounting staff members prepare a trial balance in order to ensure that the total of all debit balances equals the total of all credit balances, indicating that the accounting records are in balance. This step is crucial in the accounting cycle as it serves as a check before financial statements are prepared. In the context of international trade and accounts, when dealing with the current account balance, the trial balance can also play a role. The current account balance is the sum of the columns for Exports, Imports, and Balance. Specifically, calculating the merchandise balance involves assessing the difference between the exports and imports of goods, while the current account balance also includes services, income flows, and transfers.