Accounting Work: Accounting Cycle.

The news report cycle for some institutions can be the uniform or different depending on the type of geological formation. Within a school district, such as North Merrick Union light School District, the accounting cycle is accommodate around the spending per child. It is also a not for profit organization; this differs from an organization in which a profit is the goal of the company. Being sedulous as a Special Education Teacher adjutant bird I dont really carry access to the whole accounting serve up. I do nab a portion of the process such as the time shroud for my hours worked and the final precede of my paycheck. Organizations do go through an accounting process in read to define and pay for their expenses. The accounting process is a serial of activities that begins with a performance and ends with the closing of the books. Because this process is perennial each account period, it is referred to as the accounting cycle and includes these major(ip) steps: 1. Identify the proceeding or other recognizable event. 2. Prep argon the transactions source enter such as a buy order or invoice. 3. Analyze and iron out the transaction. This step involves quantifying the transaction in monetary terms (e.g. dollars and cents), identifying the accounts that ar affected and whether those accounts are to be debited or credited. 4.

Record the transaction by making entries in the appropriate journal, such as the sales journal, purchase journal, cash receipt or expense journal, or the general journal. Such entries are made in chronological order. 5. Post general journal entries to the ledger accounts. (200 5, NetMBA.com). consort to the earnings C! enter for Management and Business Administration, Inc. the above steps are performed passim the accounting period as minutes occur or in periodic batch processes (2005, NetMBA.com). At the end of the accounting... If you want to press a full essay, order it on our website: BestEssayCheap.com

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