Accounting cycle

                                 Accounting Cycle


 An accounting cycle is a systematic process used to help perform the basic function of accounting which is to identify, record, and the communicate information. A business or organization may have its own unique way of performing its accounting cycle, but each must perform the task in one way or another .today most companies use accounting software An accounting cycle is the collective process of identifying, analyzing, and recording the accounting events of a company. The series of steps begins when a transaction occurs and end with its inclusion in the financial statements. What is the Accounting Cycle? The accounting cycle is the holistic process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation on the financial statements, to closing the accounts. One of the main duties of a bookkeeper is to keep track of the full accounting cycle from start to finish. The cycle repeats itself every fiscal year as long as a company remains in business. The accounting cycle incorporates all the accounts, journal entries, T accounts, debits and credits, adjusting entries over a full cycle. An accounting cycle is the collective process of identifying, analyzing, and recording the accounting events of a company. The series of steps begins when a transaction occurs and end with its inclusion in the financial statements. Additional accounting records used during the accounting cycle include the general ledger and trial balance.





                                                                 Urooj Qureshi