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Accounting cycle - Explained with animated Examples

The accounting cycle is the step by step process of recording, classifying, and summarising business transaction for the particular financial year. Nowadays, many accounting software is available in the market for preparing the books of the business. so in this software, almost all steps of the accounting cycle are automated. You have to post only journal entries in the software then after that ledger account and the trial balance will be prepared automatically by accounting software. then make required adjustment journal entries. At the end of the year the accounting software, the Financial statement of the business does prepare also automatically. 1 Collect and Analyze the business transactions 2 Record it in the Journal: 3 Posting in the ledger : 4 preparing trial balance (With adjustment entries): 5 Recording Adjustment Entries: 6 Preparing Financial statement: Income statement and balance sheet 7 Posting Closing entries: Check the full article on our website: https://tutorstips.com/accounting-cycle/ !--------Our Website link---------! https://tutorstips.com/ https://tutorstips.in/ !--------Check Economics Playlist--------!    • Economics Class 11 CBSE PSEB ISC   !--------Check Financial Accounting Playlist--------!    • Financial Accounting Class 11 CBSE PS...   !--------Like our Fb page---------!   / tutorstips   !--------Follow us on Instagram-------!   / tutorstips   !--------Follow us on Twitter--------!   / tutors_tips   Thanks for all your love n support. For any other details email - [email protected] Our partner https://www.freepik.com/ https://www.flaticon.com/ Accounting Cycle, accounting cycle, cycle of accountancy, accountancy cycle, Accounting Process/ Accounting Cycle, WHAT IS ACCOUNTING CYCLE, the accounting cycle, what is accounting process, accounting cycle in hindi, introduction to accounting, Accounting cycle - Explained with animated Examples,tutorstips #freeonlinetution #class11 #financialaccounting