Question

what are the steps in accounting?​

Answer 1

Answer:

Explanation:

Accounting:

Accounting is an art of Recording , Classifying , Summarising in a significant manner and in terms of money transactions and events which are in part of atleast financial character and interpreting the result

The following are the steps involved in Accounting

1. Identify Transactions
2. Record Transactions in a Journal
3. Posting to Ledger
4. Preparation of Trial Balance
5. Preparation of Final accounts
6. Closing of books of accounts