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  • Figure 1 Accounting Cycle

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    Dayangku Ayusapura
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    The accounting cycle shows the steps involved in recording business transactions from the start of an accounting period to the financial reporting at the end. It begins with journalizing transactions, followed by posting to ledger accounts and preparing a trial balance. The cycle ends with preparing financial statements and closing revenue and expense accounts at the end of the period.

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    FIGURE 1 ACCOUNTING CYCLE

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    The accounting cycle shows the steps involved in recording business transactions from the start of an accounting period to the financial reporting at the end. It begins with journalizing transactions, followed by posting to ledger accounts and preparing a trial balance. The cycle ends with preparing financial statements and closing revenue and expense accounts at the end of the period.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    2 views1 page

    Figure 1 Accounting Cycle

    Uploaded by

    Dayangku Ayusapura
    The accounting cycle shows the steps involved in recording business transactions from the start of an accounting period to the financial reporting at the end. It begins with journalizing transactions, followed by posting to ledger accounts and preparing a trial balance. The cycle ends with preparing financial statements and closing revenue and expense accounts at the end of the period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Figure 1: ACCOUNTING CYCLE

    Source: The Accounting Cycle. Fundamentals of Financial Accounting by Haniff, Nawawi, Abd Samad,
    and Mohamed, 2018, p. 6.

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