Accounting Cycle Steps

Learn the 8 Steps to The Accounting Cycle

What Is It?

The Accounting Cycle is the collective process of recording and processing the accounting events of a company. The accounting cycle is a methodical set of rules to ensure the accuracy and conformity of financial statements. Computerized accounting systems have helped to greatly reduce mathematical errors in the accounting process, but the uniform process of the accounting cycle also helps reduce mistakes.The series of eight steps begin when a transaction occurs and end with its inclusion in the financial statements.
Overview of the Accounting Cycle - Slides 4-6