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Ready to Know about some facts on Accounting Part -2

The common facts about accounting are elaborated in this slide. Have a look at it. Visit the best firm @ https://ag-singapore.com/accounting-services/ for accounting services in Singapore.

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Ready to Know about some facts on Accounting Part -2

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  1. Accounting Cycle Part 2 By Best Accounting firm in Singapore

  2. There are 8 steps in the accounting cycle We are going to understand remaining 4 accounting cycles in short in this presentation

  3. 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.”

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

  5. 5. Adjusting Entries At soon the company’s accounting period ends, adjusting entries must be posted to account for accruals (interest earned on an investment in a government bond) and deferrals (payment that was made in one period). 5

  6. 6. Worksheet The Role of bookkeeper or accountant is to insure that the report prepared is error free, so he make corrective adjustments that are tracked on a worksheet 6

  7. 7. Financial Statements Financial statements include: Income statement Balance sheet Cash flow statement 7

  8. 8. Closing Income statement accounts are lastly closed for the next accounting period but Balance sheet accounts are not closed. 8

  9. So here Ends our Journey. Hope You’ve liked it. For detailed information on Accounting cycle you can visit our website. We provide reliable Accounting services in Singapore.

  10. THANK YOU ACKENTING GROUP +65-93832464 johnwoo@ag-singapore.com https://ag-singapore.com/accounting-services/

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