describe the stage in the accounting cycle
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ʜᴇʏᴀ ᴜsᴇʀ!
sᴛᴀɢᴇs ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ᴄʏᴄʟᴇ:
①ɪᴅᴇɴᴛɪғɪᴄᴀᴛɪᴏɴ ᴏғ ғɪɴᴀɴᴄɪᴀʟ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs ᴀɴᴅ ᴇᴠᴇɴᴛs.
②ᴍᴇᴀsᴜʀɪɴɢ ᴛʜᴇ ɪᴅᴇɴᴛɪғɪᴇᴅ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
③ʀᴇᴄᴏʀᴅɪɴɢ ᴏғ ɪᴅᴇɴᴛɪғɪᴇᴅ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
④ᴄʟᴀssɪғɪᴄᴀᴛɪᴏɴs ᴏғ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
⑤sᴜᴍᴍᴀʀɪsɪɴɢ ᴏғ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
⑥ᴀɴᴀʟʏsɪs ᴀɴᴅ ɪɴᴛᴇʀᴘʀᴇᴛᴀᴛɪᴏɴ ᴏғ ᴛʀᴀɴsᴀᴄᴛɪᴏɴ.
⑦ᴄᴏᴍᴍᴜɴɪᴄᴀᴛɪɴɢ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ ᴅᴀᴛᴀ ᴛᴏ ᴛʜᴇ ᴜsᴇʀs.
ʜᴏᴘᴇ ᴛʜɪs ᴡɪʟʟ ʜᴇʟᴘ ʏᴏᴜ!
sᴛᴀɢᴇs ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ᴄʏᴄʟᴇ:
①ɪᴅᴇɴᴛɪғɪᴄᴀᴛɪᴏɴ ᴏғ ғɪɴᴀɴᴄɪᴀʟ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs ᴀɴᴅ ᴇᴠᴇɴᴛs.
②ᴍᴇᴀsᴜʀɪɴɢ ᴛʜᴇ ɪᴅᴇɴᴛɪғɪᴇᴅ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
③ʀᴇᴄᴏʀᴅɪɴɢ ᴏғ ɪᴅᴇɴᴛɪғɪᴇᴅ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
④ᴄʟᴀssɪғɪᴄᴀᴛɪᴏɴs ᴏғ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
⑤sᴜᴍᴍᴀʀɪsɪɴɢ ᴏғ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs.
⑥ᴀɴᴀʟʏsɪs ᴀɴᴅ ɪɴᴛᴇʀᴘʀᴇᴛᴀᴛɪᴏɴ ᴏғ ᴛʀᴀɴsᴀᴄᴛɪᴏɴ.
⑦ᴄᴏᴍᴍᴜɴɪᴄᴀᴛɪɴɢ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ ᴅᴀᴛᴀ ᴛᴏ ᴛʜᴇ ᴜsᴇʀs.
ʜᴏᴘᴇ ᴛʜɪs ᴡɪʟʟ ʜᴇʟᴘ ʏᴏᴜ!
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