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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).






TEN RELATED HOW TO's:

Accounts Payable Process Flow Chart →

Accounts Payable Process Flow Chart - ConceptDraw DIAGRAM diagramming and vector drawing software extended with Accounting Flowcharts Solution provides the useful tools that will help you create easily and quickly. The Accounts Payable Process Flow Chart is very popular and widely used type of accounting flowcharts. Now their designing is simple thanks to the Accounting Flowcharts Solution that provides the Accounting Flowcharts library of predesigned commonly-used shapes and a set of templates and samples.Accounts Payable Process Flow Chart *
Picture: Accounts Payable Process Flow Chart
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Drawing Workflow Diagrams →

Drawing workflow diagrams combines both creative and analytic practice. To be the most effective in this process you should find a software that suites this kind of practice. Using ConceptDraw DIAGRAM software for drawing workflow diagrams you get support of features, libraries, templates and samples boosts you creativity and keep you focus on analytic practice, not drawing specifics.Drawing Workflow Diagrams *
Picture: Drawing Workflow Diagrams
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Flow Chart Symbols →

ConceptDraw DIAGRAM software extended with Flowcharts Solution from the "Diagrams" Area is a powerful software that will help you design the flowcharts for any business and technical processes, and software algorithms thanks to the predesigned flow chart symbols. Flowcharts solution offers 2 libraries with large collection of vector flow chart symbols: Flowchart Library, Flowcharts Rapid Draw Library that you can use to create your flowcharts quick and easy. Flowchart Solution is number of diagraming stencils including special set of flow chart symbols such as: terminator, process, decision which indicates a decision points between two or more paths in a flowchart, symbol of delay. Major symbols includes symbol of data, document or multiple documents, subroutine, preparation for processing of documents. Also includes symbols: display, manual input, manual loop, loop limit, stored data,connectors and suming junctions, sort and merge operations, symbols of database and internal storFlow Chart  Symbols
Picture: Flow Chart Symbols
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Process Flow Chart →

A Process Flow Chart is a type of flowchart which is mostly used in industrial, chemical and process engineering for illustrating high-level processes, major plant processes and not shows minor details. ConceptDraw DIAGRAM diagramming and vector drawing software extended with Flowcharts Solution from the "Diagrams" Area of ConceptDraw Solution Park is the best way to create Process Flow Chart and other types of flowcharts.Process Flow Chart *
Picture: Process Flow Chart
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What process should be essentially adopted.Accounting Flowchart Example →

The Accounting flowchart shows how information flows from source documents through the accounting records. The are based on the accounting procedures or processes.What process should be essentially adopted.<br>Accounting Flowchart Example *
Picture: What process should be essentially adopted.Accounting Flowchart Example
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Flowchart Components →

The ConceptDraw Flowchart component includes a set of samples and templates. This geathered as flowchart maker toolbox which focused on drawing flowcharts of any industry standards.Flowchart Components
Picture: Flowchart Components
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Accounting Data Flow from the Accounting Flowcharts Solution →

Accounting Data Flow from the Accounting Flowcharts Solution visually describes the financial accounting process, shows the accumulated information about transactions and events for creating the balance sheet and the final income statement. Accounting Flowcharts Solution contains also a wide variety of templates and samples that you can use as the base for your own Accounting Flowcharts of any complexity.Accounting Data Flow from the <br>Accounting Flowcharts Solution *
Picture: Accounting Data Flow from the Accounting Flowcharts Solution
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Types of Flowcharts →

A flowchart is a simple but very functional tool when it comes to understanding a workflow or to removing unnecessary stages from a process. When drawing flowcharts, keep in mind that there are four common types of flowcharts, like document flowcharts and data flowcharts that show control over a data or document flow over a system. To show controls on a physical level, use system flowcharts. In addition, to show controls in a program, you can draw a program flowchart. This flowchart diagram represents the piece of an article editing process, that involves the author and editor. It was created using the Basic Flowchart notation that consists from the basic flowchart symbols. The start and the end of the process are indicated with "Terminator" symbols. The "Process" symbols show the action steps consisting from making edits and searching for a compromise, when the author does not agree with the suggestions of the editor. The "Process" symbol is the general symbol in process flowcharts. The "Decision" symbol indicates a branching in the process flow. There are two branches indicated by a Decision shape in the current flowchart (Yes/No, Disagree/Agree). This basic flowchart can be used as a repeating unit in the workflow diagram describing the working process of some editorial office.Types of Flowcharts *
Picture: Types of Flowcharts
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Organogram Software →

Organizing process is the process of creating the organizational structure of an enterprise. The organizing process consists of several stages. First, you need to divide the organization into departments, respectively to strategies, and then establish relationships of authority. After that, managing director delegates his rights and authorities.Organogram Software *
Picture: Organogram Software
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Data Flow Diagram Process →

When you are a beginner in software development, you make a lot of mistakes. Developing logical models, or data flow diagrams is a way to see the the whole project and all the processes clearly. And some novices, unfortunately for them, miss modeling stage at the beginning of project life cycle, and get into troubles as the project grows. This image represents the data flow diagram applying symbols of Yourdon and Coad notation. This DFD depicts the data flow inside an organization department deals with receivables. The icons of standard Yourdon and Coad notation provides possibility to draw professional looking and well- readable DFD for business documentation. This data flow diagram was designed with the help of ConceptDraw DIAGRAM and its Data Flow Diagrams solution. The solution delivers three vector graphic libraries including elements of Yourdon and Coad and Gane-Sarson notations.Data Flow Diagram Process *
Picture: Data Flow Diagram Process
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