Question

What do you mean by Financial Accounting? List the steps in process of financial accounting.

Answer 1

Explanation:

accounting process, is a series of procedures in the collection, processing, and communication of financial information. accounting involves recording, classifying, summarizing, and interpreting financial information. Process of Accounting Steps: 1. Identifying and Analyzing Business Transactions.

Answer 2

Steps of the accounting cycle. Step 1: Analyze and record transactions. Step 2: Post transactions to the ledger. Step 3: Prepare an unadjusted trial balance. Step 4: Prepare adjusting entries at the end of the period.

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