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Accounting Cycle

   Also found in: Wikipedia 0.01 sec.
Accounting Cycle
The events that occur between the beginning of a transaction and its recording in a company's records. For example, the accounting cycle for a sale may begin with the actual sale, continue with an accountant's analysis of the type of sale (mainly a cash or credit sale), and conclude with the posting of the sale in the company's ledger. The accounting cycle is often more complex than the above example, including steps such as quality control.


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Income measurement and accounting cycle are discussed in Chapter 3.
ADDING ACTUAL REVENUE AND EXPENDITURE DATA Columns can be added to the spreadsheet to accommodate monthly actual data, which can be updated after the close of each month's accounting cycle by downloading the data into a dedicated worksheet within the same workbook.
00 Paperback HF5686 Providing example financial statements from PepsiCo, this textbook explains the documents in the accounting cycle, financial statements and their analysis, and the use of financial accounting data in the daily operation of a business.
 
 
 
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