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Financiopedia

An educational website on accounting and finance
  • Financial Accounting
    • Basics of accounting
    • Double-entry accounting system
    • Accounting cycle
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    • Accounting of assets
    • Property, plant and equipment
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  • Management Accounting
    • Introduction
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    • IFRS 15 – Revenue from contracts with customers
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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

Closing entries and 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 and 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

Trial balance

Aamir Sial

Trial balance is a compilation of all the general ledger accounts along with the account balances at any point in…

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Posted in: Accounting cycle, Financial Accounting

Accounting cycle explained

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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  • 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
  • Management Accounting
    • Introduction
    • Relevant costing
    • Cost of Goods Sold Statement
    • Marginal and Absorption Costing
    • Inventory Valuation
    • Inventory Management
  • IFRS
    • IFRS 15 – Revenue from contracts with customers