Accounting cycle is the process of analyzing ,recording ,recording ,classifying,
summarize and reporting of financial statement.
There are ten step of accounting cycles
1.analysis data
2.recording or journalizing transactions
3.posting from journal to ledger
4 preparation of unadjusted trial balance
5 Recording adjusted entries
6.preparation of adjusted trial balance
7.preparing financial statement
8.Recording Closing Entry
9.preparing closing Trial balance
10.Recording Reversing Entries
Hence,knowing how to use step by step accounting cycle is mandatory for one accounting students and accountant.
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