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Accounting Cycle Part 1 By Best Accounting firm in Singapore


There are 8 steps in the accounting cycle We are going to understand 4 accounting cycles in short in this presentation


These 8 steps of an Accounting Cycles is intimately “As you know that opening or closing withas ofinterconnected an financial transaction is known accounting.� each other


Full cycle of Accounting 1. Transactions 2. Journal Entries

5. Adjusting Entries

3. General Ledger 4. Trial Balance

6. Worksheet 7. Financial Statements

8. Closing

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1. Financial transactions Accounting cycle process starts from financial transactions because this is the most important part where you maintain and keep records for further use.

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2. Journal entries in chronological order As soon the financial transaction process is over in accounting cycle the reordering of entries starts that’s called Journal entries process 2. For maintaining balance between Debits and credits this process is used.

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3. General Ledger After the completion of process 2, the financial transactions are posted to the General ledger, A General ledger is someone who shows all the debits and credits of cash or in other words you can say he is eye and ear of all financial transactions.

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4. Trial Balance When these all three process ends, here comes the main role of Trail balance. Trial balance is something where all the total balance including monthly quarterly, half yearly or Yearly is

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So here Ends our Part -1 Journey. Part 2 will be updated soon with new enhancements. For detailed information on Accounting cycle you can visit our website. We provide reliable Accounting services in Singapore.


THANK YOU ACKENTING GROUP +65-93832464 johnwoo@ag-singapore.com https://ag-singapore.com/accountingservices/

Best Article On Accounting Cycle with Visualization (Part 1)  

Read out the presentation on Accounting Cycle by the best Accounting firm in Singapore. For more info. on Accounting services and proper gui...

Best Article On Accounting Cycle with Visualization (Part 1)  

Read out the presentation on Accounting Cycle by the best Accounting firm in Singapore. For more info. on Accounting services and proper gui...

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