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ACCOUNTING CYCLE PAPER

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Accounting Cycle Paper Linda Page ACC/421 February 18, 2013 Richard Cochran

interpret financial data. Then at the end of the day the teller would total all of them together for a grand total that would be logged in to the computer for the administrative office.ACCOUNTING CYCLE PAPER 2 Accounting Cycle Paper Within the financial information system accounting is designed to report. When the author looked at cycle 4 as an adjustment entry the first came to mine was what they call an overage and shortage report. This is where they keep track of all the cashiers for major overages and shortages on any given day. she will try to relate the cycles to what she does each day. . what they have is a sheet for each day that they post all of their cash. non. As for as cycle 3 the authors department does not keep a general ledger per say.checks. As she or she knows accounting is a series of steps that he or she follows to keep all records as well as financial statement. but many years ago at the end of the day. infants. In cycles 1 and 2. the author and her fellow cashiers had to count how many of each transaction they had total them up and write them down on their daily variances sheet. This theory measure income by matching the expense acquired in a given time with the revenue gained in that time. women. and children (WIC) and travelers checks/ money orders(TC/MO) totals on for that day. The author will attempt to describe each step as it relates to his or her business. There are 6 cycle steps to accounting. the author does not have to keep track of the debits and credits ant more do to the fact that all of these transaction are now ran electronically now. classify. Because the author is not totally involved with the accounting aspect of the company. and record.

would be where we prepare the bank deposit slips for that day and make sure that the safe is balanced correctly. wics. on this ledger it list all of the day before totals and transaction. balance sheet. What this entails is that the teller takes all of the cashiers and settles them out for the day at the end of their shift.As they come to cycle 5 the close and balance ledger. there are other accounting steps being done one that she knows of is where the back office inputs all of that days information in to the computer and run what they call a 707 which if it had to be given a label it would have to be a general ledger. and dues. The process which is involved in the account cycle has to do with billing. and income statement. As far as the people involved such as Account Clerks. According to (Porter and Norton) “Those processes that are related to cost control destinations and sample reviews. budget and planning manager and the external and internal auditors assist in preparing of new accounts. financial manager. Those . The author knows that when her office turns in their daily folder in to the administrative office. and tc/mo if they have any. they also put all of their totals in the computer for that day to make sure that everything that they have total out to what is in the safe to start off the next day. then we have to start from the begging and recount every tray and bundle pack of money along with the other thing to see what went wrong. If for some strange reason that does not go as smoothly as it sounds. Last but not least cycle 6. conference registrations. A timely "big picture" review often will be more significant in identifying material inconsistency than individual transaction reviews. The author believes that the integral cycle would have to be the company’s cash flow statement. shareholder equity statements. for the cash office would have to be what they have as a deposit at the end of the day. This is done by running all of their money in their tray adding up their checks. Once we find the problem all of that paper work has to be redone before it gets to the back office.

actions that are related to detailed simple accounting processes to help new employees operate more efficiently. and all the people that are involved in the accounting cycle. . the processes. Then create procedures manuals outlining basic steps for many of the tasks” The author hopes that she was able to explain the 6 cycle steps.

Financial Accounting: the impact on decision makers. G.References Porter. C. L. Retrieved from Google books. A. . & Norton. . (2007).