Question

write the steps of accounting process ​

Answer 1

Explanation:

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.

Step 5: Prepare an adjusted trial balance.

Step 6: Prepare financial statements.

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Answer 2

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$\huge\star\mathfrak\red{{Accounting }}$$\huge\star\mathfrak\red{{Process}}$$\huge\star\mathfrak\red{{Steps }}$

• Identify the transactions, which that are recorded.
• . Record transactions in journal. Only those transactions are recorded which are

measured in money terms. Thesystem. followed. for. recording. is called. double entry system .

• The entries appearing in the above books are posted in the respective accounts in the ledger.
• The accounts are balanced and listed in a statement called trial balance. If the total amounts of debit and credit balances agree, accounts are taken as free from
• arithmetical errors. The trial balance forms the basis for making the financial statements, i.e. trading and profit and loss account and balance sheet