Steps in the Accounting Cycle - Example
Here we discuss about steps in the Accounting Process. Accounting Cycle is the basic of the Accounting. The whole system of accounting processes are operated throughout the Accounting period is called Accounting Cycle. Every Step has its great importance. We can not ignore any one of these. There are following steps / stages in the Accounting Cycle and we can say that the Accounting Process begins with the following Accounting Cycle Steps: Accounting Cycle Order Below are the steps in the Accounting Cycle: 1. Voucher (Source Document) 2. Journal (Recording) 3. Ledger 4. Trial Balance 5. Final Accounts (Income Statement and Balance Sheet) 6. Cash Flow Statements 7. Statement of Changes in Equity 8. Notes to the accounts 1) Voucher (source Document) Voucher means any written evidence in support of ...