Saturday, 19 November 2011

Accounting cycle

Accounting cycl consist on following process.
1.In first step we collect data and analyze the collected data.
2.After analyzing data we put transactions into genral journal.
3.than we put the entries into ledger accounts.
4.Than we make the unadjusted trial balance.
5.Than we make adjusted entries.
6.After this we make the adjusted trial balance.
7.Than we orgnize the accounts into the finicial statement.
8.Than we close the books.

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