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Ready To Know About Some facts on Accounting (Part 1)

This accounting presentation is very helpful for beginners and businesses who want to understand in brief.<br>This presentation is prepared by the top accounting firm in Singapore which provide reliable accounting services.<br>Visit https://ag-singapore.com/accounting-services/ for more information.

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Ready To Know About Some facts on Accounting (Part 1)

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

  2. There are 8 steps in the accounting cycle We are going to understand 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. 1. Financial transactions Accounting cycle process starts from financial transactions because this is the most important part where you maintain and keep records for further use. 5

  6. 2. Journal entries in chronological order As soon the financial transaction process is over in accounting cycle the reordering of entries starts that’s called Journal entries process 2. For maintaining balance between Debits and credits this process is used. 6

  7. 3. General Ledger After the completion of process 2, the financial transactions are posted to the General ledger, A General ledger is someone who shows all the debits and credits of cash or in other words you can say he is eye and ear of all financial transactions. 7

  8. 4. Trial Balance When these all three process ends, here comes the main role of Trail balance. Trial balance is something where all the total balance including monthly quarterly, half yearly or Yearly is calculated. 8

  9. So here Ends our Part -1 Journey. Part 2 will be updated soon with new enhancements. 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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