What do you mean by an Accounting Cycle....?????
Answers were Sorted based on User's Feedback
Answer / anubhavbansal2002
Accounting cycle is none other than the whole process of
recording and presenting the transactions held i.e. from
book keeping to final accounts. Accounting cycle starts
from book keepings to ledgers to dinal accounts and cash &
fund flow statements..
Is This Answer Correct ? | 25 Yes | 2 No |
accounting cycle start from journal entry i.e recording the
transaction and next step is posting into the ledger a/c
after ledger a/c it involves in preparation of trial
balance and finally final account i.e Trading&p/l a/c and
balance sheet.this process is called accounting cycle and
for next year it is again start from journal entry and ends
with final account.
Is This Answer Correct ? | 21 Yes | 1 No |
Answer / poornima
Accounting Cycle means the entire financial transactions
incurred during the financial year starting from 01st
April to 31st March every year
Is This Answer Correct ? | 16 Yes | 3 No |
Answer / amir
An accounting cycle is the process to record and present
the transaction it starts from book keeping ends to final
accounts.
Is This Answer Correct ? | 10 Yes | 1 No |
Answer / sanjeev kumar
Accounting cycle is a accounting process and accounting
structure. accounting cycle is recording and prepare the
transaction from book keeping to ledger to final account (
profit and loss account,balance sheet)and cash flow
statement account.
Is This Answer Correct ? | 4 Yes | 1 No |
Answer / ajit kumar sahu
An accounting cycle means to maintaining the financial data
and recording and prepare the final account after ending of
the financial year.
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / rahul prasad shaw
Accounting cycle is none other than the whole process of
recording and presenting the transactions held i.e. from
book keeping to final accounts. Accounting cycle starts
from book keepings to ledgers to dinal accounts and cash &
fund flow statements.
Is This Answer Correct ? | 1 Yes | 0 No |
Expand ________ACCB
company accounts introduction?
what is the distinction between provisions and reserves
Distinguish capital and Revenue receipts
As a Finance Manager what is your role in matters of dividend policy. What will be the alternatives and factors that you may consider before finalizing your dividend policy?
ACCOUNTING CONCEPTS AND CONVENTIONS
4 Answers Bajaj, Bajaj Capital,
explain the financialand economic meaning of investment?
What is the accounting treatment for TDS and service tax?
What is the difference between reserve and provision.
What is sezs
Expand ________EAMCET
Liabilities: 2006 2007 Assets 2006 2007 Trade Creditiors 100 40 Cash atBank 100 65 Bills Payable 50 60 Account/R 105 120 Outstanding Expenses 25 20 B/R 130 140 Bonds Payable 220 140 Inventory 110 40 Accumulated Depreciation: Machinery 120 160 -on Machinery 30 35 Building 300 310 -On Building 75 85 Land 60 130 Reserves 100 115 Patents 55 60 Retained Earning 130 170 share Capital 250 360 Profit from operation after providing Rs.10,000as depreciation on building and Rs.10,000 on machinery and Rs.5,000 as amortization on patents for the year 'April 06- March07' was Rs.35,000. Other revenues for the year were Rs.40,000. An old machine with original cost of Rs.15,000 was sold at a loss of rs.5,000. Prepare Fund Flow Statment and Cash Flow Statment for the year ending March 31 2007 based on the information given above.