The Accounting Cycle

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These flashcards cover the key concepts related to the accounting cycle as outlined in the lecture transcript.

Last updated 3:29 PM on 4/9/26

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10 Terms

1

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1st step

Identify and Analyze Transactions

2

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2nd step

Record Transactions to Journal

3

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3rd step

Post Journal Information to Ledger

4

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4th step

Prepare Unadjusted Trial Balance

5

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5th step

Adjusting Entries

6

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6th step

Prepare Adjusted Trial Balance

7

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7th step

Prepare Financial Statements

8

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8th step

Closing Entries

9

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9th step

Prepare Post-Closing Trial Balance

10

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10th step

Reversing Entries