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  • Accounting Cycle - A RoadMap For The Accountant

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    Noor El Abed
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    The accounting cycle involves 9 key steps: 1) Analyzing transactions, 2) Journalizing transactions, 3) Posting to ledger accounts, 4) Preparing a trial balance, 5) Journalizing and posting adjusting entries, 6) Preparing an adjusted trial balance, 7) Preparing financial statements, 8) Journalizing and posting closing entries, 9) Preparing a post-closing trial balance.

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    Accounting cycle

    Original Title

    Accounting Cycle - A RoadMap for the Accountant

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    The accounting cycle involves 9 key steps: 1) Analyzing transactions, 2) Journalizing transactions, 3) Posting to ledger accounts, 4) Preparing a trial balance, 5) Journalizing and posting adjusting entries, 6) Preparing an adjusted trial balance, 7) Preparing financial statements, 8) Journalizing and posting closing entries, 9) Preparing a post-closing trial balance.

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

    Accounting Cycle - A RoadMap For The Accountant

    Uploaded by

    Noor El Abed
    The accounting cycle involves 9 key steps: 1) Analyzing transactions, 2) Journalizing transactions, 3) Posting to ledger accounts, 4) Preparing a trial balance, 5) Journalizing and posting adjusting entries, 6) Preparing an adjusted trial balance, 7) Preparing financial statements, 8) Journalizing and posting closing entries, 9) Preparing a post-closing trial balance.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Learning Objective 4

    The Accounting Cycle State the required steps in the


    accounting cycle.

    1. Analyze business transactions

    9. Prepare a post-closing trial


    2. Journalize the transactions
    balance

    8. Journalize and post closing


    3. Post to ledger accounts
    entries

    7. Prepare financial statements 4. Prepare a trial balance

    6. Prepare an adjusted trial 5. Journalize and post


    balance adjusting entries

    Illustration 4-11
    4-1
    Steps in the accounting cycle
    LO 4

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