Accounting Cycle

8 Steps to the Accounting Life Cycle

1) Analyze & 2) Journalize

Collecting and analyzing data from transactions and events is step number one. Putting transactions into the general journal is step number two.

3) Post & 4) Prepare Worksheet

Posting entries to the general ledger is step 3. Preparing an unadjusted trial balance is step 4.

5) Prepare Financial Statements & 6) Journalize Adjusting and Closing Entries

There is nothing quite like Accounting.

Follow the Accounting Life Cycle and You'll Be Set For Life