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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:
Create your own flow charts of computer or network system account processing using the ConceptDraw DIAGRAM diagramming and vector drawing software extended with the Cross-Functional Flowcharts solution from the Business Processes area of ConceptDraw Solution Park. The flow chart example shows the computer network system account processing.Account Flowchart. Flowchart Examples *
Picture: Account Flowchart. Flowchart Examples
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Acquaintance with flowcharting starts from getting into basic terms. First of all, flowchart definition is quite clear – a flowchart is a graphical representation of a process or an algorithm made of special symbols. Secondly, flowcharting is an irreplaceable tool for IT specialists, project managers, and anyone who wants a clear understanding of any imaginable process.Flowchart Definition *
Picture: Flowchart Definition
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To describe the accounting processing use ConceptDraw Flowchart set of symbold created for Accounting data processing. Tips, Methods and Symbols on How to Create Flowcharts for an Accounting Information System.How Do You Make An Accounting Process Flowchart? *
Picture: How Do You Make An Accounting Process Flowchart?
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Picture: Data Flow Diagram Model
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Steps in the Accounting Process - The Accounting Process is a sequence of organization activities that is used for gaining quantitative information about the finances. This complex process consists of a set of sequential steps. 9 steps in the accounting process: Analysis of Business Transactions, Make Journal Entries, Post to Ledger Accounts, Prepare Trial Balance, Make Adjusting Entries, Adjusted Trial Balance, Prepare Financial Statements, Close Accounts, Post-Closing Trial Balance.Steps in the Accounting Process *
Picture: Steps in the Accounting Process
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Picture: What is the Accounting Cycle?
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It doesn’t matter what kind of business you have, a bar or a gym, there are common concepts for any of them. One of those concepts is accounting, and to facilitate the work with the figures, you can use accounting flowchart symbols and create a clear and representative scheme. You can create flowchart for auditing, tax accounting and even for planning your own budget. A graphical tool for displaying successive processes is flowchart. This method is mostly suited to represent an accounting process. The sequence of steps in the accounting process usually consists of standard accounting procedures, that can be depicted by using a minimal number of symbols, applied for the basic flowcharting. The advanced opportunity to create professional Accounting Flow charts is provided by ConceptDraw Accounting Flowcharts solution. It includes contains a library of accounting flowchart symbols used when drawing the accounting process flow.Accounting Flowchart Symbols
Picture: Accounting Flowchart Symbols
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Picture: Workflow to Make a Purchase.Accounting Flowchart Example
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Picture: Pyramid Diagram
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Picture: Flowchart design. Flowchart symbols, shapes, stencils and icons
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