Accounting cycle, Managerial Accounting

Assignment Help:

Accounting Cycle is the name given to the combined process of recording and processing the accounting proceedings of a company. The series of steps start when a transaction takes place and end with its addition in the financial statements. The 9 events of the accounting cycle are: 

  1. Gathering and evaluating data from transactions and events.
  2. Placing transactions into the general journal.
  3. Putting entries to general ledger.
  4. Make an unadjusted trial balance.
  5. Adjusting entries properly.
  6. Making an adjusted trial balance.
  7. Managing the accounts into the financial statements.
  8. Closing the accounting books.
  9. Making a post-closing trial balance to verify the accounts.

 

 


Related Discussions:- Accounting cycle

Mgt acc., companyXYZusesthe job oder costing system.

companyXYZusesthe job oder costing system.

Adjusting entries, what do you debit and what do you credit in adjusting en...

what do you debit and what do you credit in adjusting entry for prepaid rent?

Cost management, Calculate the charges for single and double rooms assuming...

Calculate the charges for single and double rooms assuming that the authority wishes to make a RM10, 000 profits an accommodation

Budgetary controls, BUDGETARY CONTROLS Control in a business is the pro...

BUDGETARY CONTROLS Control in a business is the process of guiding organization into viable patterns of activity in an environment. The main purpose of a control system is to m

Continuous probability distribution, CONTINUOUS PROBABILITY DISTRIBUTION (U...

CONTINUOUS PROBABILITY DISTRIBUTION (USE OF NORMAL DISTRIBUTION) In reality the C-V-P variables might take any values in a continuous range. It could therefore be more appropriat

Status resources, Status Resources We had classified constraints as sca...

Status Resources We had classified constraints as scarce and abundant, depending respectively on whether or not the optimum solution "consumes" the entire available amount of t

Management accountant vs financial accountant, Difference between manageria...

Difference between managerial accounting and financial accounting are mentioned below Audience – Internal Vs External Format of Reporting – Free format Vs prescribed

How much was Topaz’s operating income (income before taxes), How much was T...

How much was Topaz’s operating income (income before taxes) last year?

Problem 18.4A Process Costing with No Beginning or E, Ask question Toll Hou...

Ask question Toll House makes chocolate chip cookies. The cookies pass through three production processes: mixing the cookie dough, baking, and packaging. Toll House uses process c

Extra cost decision, Discuss arguably how management accountants should dec...

Discuss arguably how management accountants should decide when are faced with the extra shift decision

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd