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3.2: The Accounting Cycle

Last updated

Sep 27, 2024
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- 3.1: Introduction- The Accounting Cycle
- 3.3: Accounts, Journals, Ledgers, and Trial Balance

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The following video briefly explains key components of the accounting cycle.

In the next 2 units we will learn the components of the accounting cycle. In the video, it discussed:

Capture activity of a business: we will do this with a journal entry
Organize into groups and edit: this will be accomplished by organizing the information into account and posting journal entries
Publish the story: in accounting, our story is the financial statements
Archive: this will be the closing process to prepare the books for the next period

To give you a picture and quick reference for all you will learn in the accounting cycle. We begin on the right hand side and move around the cycle. Click Accrual World for a printable copy.

Accrual World. Authored by: Debra Porter. Provided by: Tidewater Community College. License: CC0: No Rights Reserved

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