Create an account
What is The accouting cycle?
The accounting cycle is the process of gathering, preparing, analysing and reporting the activities of the business during one accounting period so that business and other decisions can be made.
Step 5 (2 stages)
1. Journalise and post adjusting entries -balance day adjustments
2. Prepare and adjusted trial balance
Step 7 (2 stages)
Close the accounts
1. journalise and post closing entries
2. Prepare a post closing trial balance
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