Archive about 'Accounting Cycle'

The Different Types Of Journals Or Books Of Prime or Original Entry Shown In The Accounting Cycle

Journal is also called the Book Of Prime Or Original Entry.   The purposes of Journal are as follows:   Records in one place the complete effects of a transaction Provides a chronological record of transaction Helps to prevent or locate errors because the debit and credit amounts  for each entry could be readily compared [...]

What is The Accounting Cycle And The Steps Involved

Accounting Cycle is a series of accounting process which begins with the identification of an economic activity or transaction, recording of the economic activity and ends with the prepration of the financial statements. The Accounting Cycle is a repeated process where one cycle ends and another cycle (as above) is repeated again The steps involve [...]

List Of Topics Under The Heading Of Accounting Cycle

Append below a listing of topics covered under the heading Accounting Cycle: Content Page On ACCOUNTING CYCLE 1.0 Overview of a typical Accounting Cycle and understanding its flows Steps Involved: 2.0 SOURCE DOCUMENTS: 3.0 JOURNAL/ORIGINAL BOOK OF ENTRY/SUBSIDIARY BOOKS The Sales Journal The Purchase Journal The Cash Payments Journal The Cash Receipts Journal The General [...]