CHP 5: THE ACCOUNTING CYCLE

The accounting cycle is a collective process of identifying, analyzing, and recording the accounting events of a company. The series of steps begin when a transaction occurs and end with its inclusion in the financial statements.

What is the Accounting Cycle? (Conceptual)

5.1 Steps in the Accounting Cycle

The 8 Important Steps in the Accounting Cycle

Accounting Cycle 8 steps in the accounting cycle

The Accounting Cycle-Technically

5.2 Source documents and business transaction

Source documents are the physical basis upon which business transactions are recorded. Source documents are typically retained for use as evidence when auditors later review a company's financial statements, and need to verify that transactions have, in fact, occurred.

What Are Source Documents in Accounting?

5.3 Recording Process

Recording Process

Transaction Analysis 

The Journal

5. 4 Trial Balance and Financial Statement
How to prepare a Trial Balance

Financial Statement - An Introduction

Financial Statements - Inter-connectivity

5.4 Closing Entries

Closing Entries and Post Closing Trial Balance Explained | Full Example

Case Study : Accounting Cycle (PDF)

Recommended text/reading:

• Sangster, A., & Wood, F. (2019). Business accounting volume 2 (14th ed.). Pearson.
•  Sangster, A., & Wood, F. (2018). Business accounting volume 1 (14th ed.). Pearson.
•  Weagant, J.J., Kimmel, P.D., & Keiso, D.E. (2018). Accounting principles (12th ed.).  Wiley. (for this ebook you need to join this channel >> accounting <<

"ENJOY LEARNING ACCOUNTING "

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Regards;

Sanisah Hanim Jiman