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Steps of Accounting Cycle

The accounting cycle is a complex process that consists of a set of steps occurred in the accounting period. It is called a cycle because the accounting workflow is circular: after execution one accounting period consisting of a sequence of steps of accounting cycle, starts the next accounting period.

The steps of accounting cycle include the processes of identifying, collecting, analyzing documents, recording transactions, classifying, summarizing, posting, and preparing trial balance, making journal entries, closing the books and final reporting financial information of an organization.

Steps of Accounting Cycle

Sample 1. Steps of Accounting Cycle

The execution of the eight basic steps of accounting cycle leads to success work of your organization.

ConceptDraw DIAGRAM diagramming and vector drawing software extended with Accounting Flowcharts Solution provides the Accounting Flowcharts library with predesigned vector shapes, variety of templates and samples to help you easily show the steps of accounting cycle and quickly design the accounting flowcharts.

Steps of Accounting Cycle *

Sample 2. Accounting Flowcharts – Purchasing Flowchart

This sample was created in ConceptDraw DIAGRAM using the Accounting Flowcharts library from the Accounting Flowcharts Solution and shows the purchasing process flow. An experienced user spent 10 minutes creating this sample.

Use the ConceptDraw DIAGRAM with Accounting Flowcharts Solution to create your own professional Accounting Flowcharts of any complexity quick and easy.

The Accounting Flowcharts produced with ConceptDraw DIAGRAM are vector graphic documents and are available for reviewing, modifying, and converting to a variety of formats (image, HTML, PDF file, MS PowerPoint Presentation, Adobe Flash or MS Visio).


Best Program to Create a Flowchart →

ConceptDraw - feature-rich flowchart software allows you create professional looking flowcharts.Best Program to Create a Fowchart *
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Business process Flow Chart — Event-Driven Process chain (EPC) diagrams →

Event-Driven Process chain Diagrams for improvement throughout an organisation. Best software for Process Flow Diagram. The Event-driven Process Chain (EPC) Diagrams allows managers to plan processes and resources.Business process Flow Chart — <br>Event-Driven Process chain (EPC) diagrams *
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Accounting Flowchart →

Accounting flowchart is a system of processes to represent accounting system of an organization. If you need to know how accounting processes work and how each operation is done, the Accounting Flowcharts Solution for ConceptDraw DIAGRAM has a predesigned library, tips, methods and symbols for easy drawing an Accounting Flowchart.Accounting Flowchart *
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Copying Service Process Flowchart. Flowchart Examples →

This sample was created in ConceptDraw DIAGRAM diagramming and vector drawing software using the Flowcharts solution from the Diagrams area of ConceptDraw Solution Park. This sample shows the Flowchart on that it is displayed the process of the determination the permissibility according the Access Copyright license. The diamonds represent the decision points. Inside the diamonds are the questions that need the answer yes/no. It is necessary to answer on the question, make the decision that will determine the next step.Copying Service Process Flowchart. <br>Flowchart Examples *
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Audit Procedures →

Audit procedures are the specific tests and methods that auditor executes when gathering the evidence which are necessary for making an opinion on the financial statements of the firm. There are three types of audit procedures: data selection, reliability validation, relevance confirmation. Thanks to the extensive drawing tools which provides the Audit Flowcharts solution from the Finance and Accounting area of ConceptDraw Solution Park, you can easy and effectively develop and realize various audit procedures.Audit Procedures *
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Coloring Graphs →

Color can be a very powerful tool when crafting images. Often, however, its usage is not justified.Coloring Graphs *
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Auditing Process. Audit Planning Process →

Auditing Process, Audit Planning Process - The audit is complex process of independent examination of data, statements, operations, financial performances of an enterprise for a stated purpose. The auditing process consists of defined quantity of audit steps. Planning is fundamental stage of auditing process. The carefully thought-out audit planning process ensures the success of the business project.Auditing Process. <br> Audit Planning Process *
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Electrical Symbols — Switches and Relays →

In electrical engineering, a switch is an electrical component that can break an electrical circuit, interrupting the current or diverting it from one conductor to another. The mechanism of a switch may be operated directly by a human operator to control a circuit (for example, a light switch or a keyboard button), may be operated by a moving object such as a door-operated switch, or may be operated by some sensing element for pressure, temperature or flow. A relay is a switch that is operated by electricity. Switches are made to handle a wide range of voltages and currents; very large switches may be used to isolate high-voltage circuits in electrical substations. 26 libraries of the Electrical Engineering Solution of ConceptDraw DIAGRAM make your electrical diagramming simple, efficient, and effective. You can simply and quickly drop the ready-to-use objects from libraries into your document to create the electrical diagram.Electrical Symbols — Switches and Relays *
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Business and Finance Illustrations →

Choose the business illustration design you love best, and sign our design your own style with Business and Finance Illustrations library from ConceptDraw DIAGRAM. The Business and Finance solution contains 12 vector clipart libraries: Advertising, Business, Business people clipart, Business people figures, Currency, Mail and post, Management, Marketing, Money, Office, Project management, TimeBusiness and Finance Illustrations *
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