What is accounting cycle?

The sequence of six steps in the processing of financial transactions (from the time they occur to their inclusion in financial statements) pertaining to an accounting period.

These steps are:

(1) analyzing the transactions as they occur,

(2) recording them in the journals,

(3) posting debits and credits from journal entries to the general ledger,

(4) adjusting the assets with a trial balance,

(5) preparing financial statements, and

(6) closing the temporary accounts.

Accounting cycle is the process of record the transaction completely till the final reports, example company pay for utlilty bill, than its recording from the voucher to ledger to trial balance to balance and income statement called the accounting cycle.

1.recording transactions to journal2.posted to ledger accounts from journal book3prepare trial balance4.prepare trading and profit & loss account5.prepare balancesheet

The sequence of six steps in the processing of financial transactions (from the time they occur to their inclusion in financial statements) pertaining to an accounting period.
These steps are: (1) analyzing the transactions as they occur, (2) recording them in the journals, (3) posting debits and credits from journal entries to the general ledger, (4) adjusting the assets with a trial balance, (5) preparing financial statements, and (6) closing the temporary accounts.
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The name given to the collective process of recording and processing the accounting events of a company.
The series of steps begin when a transaction occurs and end with its inclusion in the financial statements.
The nine steps of the accounting cycle are: Collecting and analyzing data from transactions and events.
Putting transactions into the general journal.
Posting entries to the general ledger.
Preparing an unadjusted trial balance.
Adjusting entries appropriately.
Preparing an adjusted trial balance.
Organizing the accounts into the financial statements.
Closing the books.
Preparing a post-closing trial balance to check the accounts.
Also known as "bookkeeping cycle".

The accounting cycle is a sequence of steps that occur in order over an established period of time.
The time frame is usually one month in duration; therefore, there are12 accounting cycles per year.
The steps required to complete a full accounting cycle are recording in the journal, posting to the ledger, preparing a trial balance, preparing the financial statements and closing the books