ACCOUNTING CYCLE

1; COLLECT DATA FROM TRANSACTION; 

First of all we collect data from transaction and  after the
analyize data.

2;JOURNALIZE TRANSACTION;

After collecting the data of transaction the 2nd step is put the transaction
 into journal form

3;POST TO JENERAL LEDGER;

After pas the journal entries the entries posted into
ledger account

4; PREPARE UNADJUSTED TRIAL BALANCE;

At the end of period double entry accounting requaired debited and credits
 recorded in the jeneral ledger be equal

5.PREPARE ADJUSTED TRIAL BALANCE

after that adjusted trial balance is prepared in which all the transactions remained left are recorded

6.PREPARE FINANCIAL STATEMENTS

To prepare finacial staements at the end of the accounting period is the primary function of every organisation that includes balance sheet and income statment

7.CLOSING THE ACCOUNTS

After that the revenue and expenses accounts are closed and the balances of assets liabilities and owners equity is forward to the next period