Accounting Cycle

Card Set Information

Author:
Elliott108nl
ID:
214152
Filename:
Accounting Cycle
Updated:
2013-04-17 20:39:16
Tags:
accounting
Folders:

Description:
Steps in the Accounting Cycle
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  1. Step 1
    Analyze transactions.
  2. Step 2
    Journalize.
  3. Step 3
    Post from journal to ledger.
  4. Step 4
    Prepare unadjusted trial balance.
  5. Step 5
    Adjust to bring account balances up to date.
  6. Step 6
    Prepare adjusted trial balance.
  7. Step 7
    Use adjusted trial balance to prepare financial statements.
  8. Step 8
    Journalize and post entries to close temp accounts.
  9. Step 9
    Prepare post-closing trial balance.

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