Acct cycle: transaction analysis Flashcards
1
Q
Process of involving journalizing, posting to the ledger, taking a trial balance, preparing statements, making adjustments and closing entries, and preparing a post closing balance
A
The accounting cycle
2
Q
What are the “5” main steps of the accounting cycle?
A
- Anaylizing
- Recording
- Adjusting
- Closing
3
Q
A