The Accounting Cycle
Accounting Vocab
100
series of accounting activities included in recording financial information for a fiscal period
What is the accounting cycle
100
Changes recorded on a worksheet to update general ledger accounts
What is Adjustments?
200
analyze transactions
What is the first step in the cycle?
200
proof of the equality of debits and credits in a general ledger.
What is trial balance?
300
posting
What is the step after journalizing?
300
length of time for which a business summarizes and reports financial information.
What is fiscal period?
400
journalize adjusting and closing enteries
What is the 6th step?
400
A columnar accounting form used to summarize the general ledger information needed to prepare financial statements
What is work sheet?
500
Prepare post closing trial balance
What is the last step?
500
a form showing proof of petty cash payment
What is petty cash slip?
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