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

Marginal returns and negative marginal returns, 1) What is the difference b...

1) What is the difference between decreasing marginal returns and negative marginal returns?   2.) "A firm in monopolistic competition maximizes its profit by producing where it

What are the features of performance budgeting, What are the features of pe...

What are the features of performance budgeting The main features of performance budgeting are:  a)  Classification into functions activities or programmers.  b)  Specifyi

What are the objectives of intra company transfer pricing, What are the Obj...

What are the Objectives of Intra company transfer pricing The objectives of Intra company transfer pricing are: 1) Evolution of performance and efficiency of each division.

Differential analysis, Barker Company has a single product called a Zet. Th...

Barker Company has a single product called a Zet. The company normally produces and sells 80,000 Zets each year at a selling price of $40 per unit. The company’s unit costs at this

What is liquidity ratios, Liquidity ratios Liquidity refers to the abil...

Liquidity ratios Liquidity refers to the ability of concern to meet its current obligations as and when these become due. The short term obligations are met by realizing amount

Advantages of abc analysis, ADVANTAGES OF "ABC ANALYSIS" The advantages...

ADVANTAGES OF "ABC ANALYSIS" The advantages derived from this analysis and its consequent follow up are summarized below: 1) Facilities selective control and thereby save va

International management challenges of globalization., what is the topic ab...

what is the topic about? what are the practical implications? what are the practical criticisms?

#title.advance accounting research on companies., do you make assignments o...

do you make assignments on Advance Accounting subjects

Moral Law vs. Tax Law, 1. Do you think that the tax minimization scheme ...

1. Do you think that the tax minimization scheme described to Debbie Kishimoto is in harmony with the ethical behavior that should be displayed by top corpo- rate executives? Wh

What are the limitation of performance budgeting, What are the Limitation o...

What are the Limitation of performance budgeting 1) It dose not facilitate qualitative evaluation. 2) The success depends on the well organized departments, but this may not b

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