Steps in Accounting Process
Use immediately

Steps in Accounting Process

Steps in Accounting Process

Identity the

Transaction

Recording of

the

Transactions in

the Journal

Posting in

the Ledger

Closing

Entries

Prearation

of Financial

Statements

Adjusted

Trial

Balance

Adjusting

Journal

Entries

Unadjusted

Trial Balance

45
0
2
publish time: 2021-06-18
Captain O Captain

EdrawMax lets you create an accounting process diagram for your academic projects. As the below image depicts, accounting is the process of recording financial transactions about a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The accounting cycle is a series of steps that businesses take to track transactions and consolidate financial information over a specific accounting period. Steps in the accounting process are: identifying the transaction, recording the transactions in the journal, posting in the ledger, unadjusted trial balance, closing entries, preparation of financial statements, adjusting the trial balance, and adjusting the journal entries.

See More Related Templates