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Category: Accounting cycle

Accounting cycle

September 10, 2020 Khayyam Javaid, ACA

Purpose of this section “accounting cycle” is to explain the flow of accounting system from initial recognition of business transactions…

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Posted in: Accounting cycle, Financial Accounting

Post-closing trial balance

September 9, 2020 Khayyam Javaid, ACA

After preparation of financial statements, last step of accounting cycle is the closure of books of account for an accounting…

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Posted in: Accounting cycle, Financial Accounting

Unadjusted trial balance vs adjusted trial balance

Khayyam Javaid, ACA

In the accounting cycle, after recording journal entries and posting them in relevant ledger accounts, third step is the preparation…

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Posted in: Accounting cycle, Financial Accounting

Adjusting entries

Khayyam Javaid, ACA

Journal entries are recorded throughout the accounting period as and when financial transactions occur. However, at the end of an…

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Posted in: Accounting cycle, Financial Accounting

Accounting trial balance

Aamir Sial

Accounting trial balance (TB) is a compilation of all the general ledger accounts along with the account balances at any…

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Posted in: Accounting cycle, Financial Accounting

Accounting cycle definition

Khayyam Javaid, ACA

Accounting cycle is a comprehensive process of accounting starting from identifying and recording the financial transactions and ending at preparation…

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Posted in: Accounting cycle, Financial Accounting

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Financiopedia
  • Financial Accounting
    • Basics of accounting
    • Double-entry accounting system
    • Accounting cycle
    • Accounting principles
    • Bookkeeping
    • Accounting of assets
    • Property, plant and equipment
    • Financial instruments
    • Inventory
    • Accounts receivable
    • Accounting of liabilities
    • Accounting of income
    • Accounting of expenses
    • Financial statements
    • Ratio analysis
  • Management Accounting
    • Introduction to management accounting
    • Introduction to costs
    • Material and labour costs
    • Marginal and Absorption Costing
    • Inventory valuation
    • Inventory management
    • Costing systems
    • Budgeting
    • CVP analysis
  • IFRS
    • IFRS 15 – Revenue from contracts with customers
    • IFRS 9 – Financial Instruments
  • About Us