Sample Term Paper

1,200 Words

Following are the steps that the cycle of accounting consists of:

1)  Transaction Identification.

2 ) Analysis of Transaction

3 ) Entries to Journal

4 ) Posting to Ledger Account

5 ) Trial Balance

6 ) Adjustment of the Entries

7 ) Making an Adjusted Trial Balance

8 ) Making Financial Statements

9 ) Closing of all the Entries

10 ) Trail Balance after closing the Entries

This term paper will discuss this cycle of accounting in detail explaining the function of each with some practical examples. The first step involving the accounting cycle is………

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