Interesting facts of accounting cycle.

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Accounting Cycle Part 1

• By Best Accounting firm in Singapore

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There are 8 steps in the accounting cycle

• We are going to understand 4 accounting cycles in
  short in this presentation

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These 8 steps of an Accounting Cycles is
intimately interconnected with each other

• As you know that opening or closing of an
  financial transaction is known as accounting.

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Full cycle of Accounting
3. General Ledger
 4. Trial Balance
1. Transactions
2. Journal Entries
6. Worksheet
5. Adjusting Entries
7. Financial Statements
8. Closing
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1. Financial transactions

• Accounting cycle process starts from financial
  transactions because this is the most important
  part where you maintain and keep records for
  further use.

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2. Journal entries in chronological order

• As soon the financial transaction process is over
  in accounting cycle the reordering of entries
  starts thats called Journal entries process 2.
• For maintaining balance between Debits and
  credits this process is used.

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3. General Ledger

• After the completion of process 2, the financial
  transactions are posted to the General ledger, A
  General ledger is someone who shows all the
  debits and credits of cash or in other words you
  can say he is eye and ear of all financial
  transactions.

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4. Trial Balance

• When these all three process ends, here comes the
  main role of Trail balance.
• Trial balance is something where all the total
  balance including monthly quarterly, half yearly
  or Yearly is calculated.

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So here Ends our Part -1 Journey. Part 2 will be
updated soon with new enhancements.

• For detailed information on Accounting cycle you
  can visit our website. We provide reliable
  Accounting services in Singapore.

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