JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY

KAKINADA

School of Management Studies

SUB:Accounting for Managers

Presented by Reference
Name:B.R.S.Pavan Accounting for Management
Roll.no:18021E0014 S N Maheswari
 ACCOUNTING CYCLE
Definition of Accounting:-
The art of recording,classifying
and summarizing in a significant manner in terms of money
transactions and events which are financial character
interpreting the results there of.
- by AICPA.

Accounting system is a means of collecting,

summarizing and analyzing in monetary terms, the
information about the business.
- by R.M.Anthoy
Accounting Cycle:-
The accounting cycle may be defined as
a process of recording , classifying , summarizing ,
analyzing and interpreting the financial transaction and
communicating the results.
There are four important stages in the process of
accounting. They are
1.Recording the Transactions.

2.Classifying the Transactions.

3.Summarizing the Transactions.

4.Interpreting the Results.

Accounting- a cyclic process:-

Transactions

Balance Journals
Sheet

Trading &
Ledgers
P&L
account

Trail
Balance
In the process of accounting, the accounting cycle consists
of different steps. They are

1.Transactions

2.Journal

3.Ledger

4.Trail Balance

5.Trading Account and Profit&Loss account

6.Balance Sheet
Thank you