Appendix_a

9 steps of accounting cycle Kisha XACC/280 October 6, 2011 Tom Byers 9 steps of accounting cycle The 9 steps in the accounting cycle summarize all of the information in the financial recording process how each of the cycle works and what to do with each to be successful. I know that journal transactions are data in a journal and no post of the recording. In the last phase of the recording process you have to post your recordings to the ledger accounts. When you prepare a trial balance it is required that you list accounts titles with their balances in the same order as listed in the ledger to obtain a normal balance. Data that has to be entered on page J2 of the general journal is journalizing and posting adjusting entries. When you enter all accounts balances you will be able to generate financial statements after this step preparing an adjusted trial balance. During the year from year to year you prepare financial statements periodically, monthly quarterly, or annually. Completing page J3 of the general journal and the ruling of accounts it usually takes place only at the end of the company’s annual accounting period I am journalizing and posting closing entries. I list permanent accounts and their balances after journalizing and posting closing entries I am preparing a post closing trial balance. During the accounting period I might do this daily classify transactions according to debit and credit I am Analyzing transactions. This ends the 9 cycles process of accounting and its verifications of each one of the processes and their and their overall functions all of these help company’s in being financial successful and free from worry by mistakes being made in any transactions. Rubric for Week 6 CheckPoint: The Nine Steps of the Accounting Cycle | | Points Earned | Points Possible | Comments | Complete The Nine Steps of the Accounting Cycle multimedia activity. Capture the screen of the completed accounting cycle in the multimedia activity. | 5.5 | 10 | It appears you had some problems capturing the screen. Without the screen capture, it is impossible for me to know that you completed the accounting cycle activity. | Write a summary of the nine steps of the accounting cycle, in 100 to 200 words. | 8.5 | 10 | You met the word count with 276 words. Your detail of the accounting cycle was not real clear as to what is done in each of the nine steps. This is why the activity was to be completed, so that students would be able to detail each of the nine steps in order. | Sentences are complete, clear, concise, and error-free; rules of grammar usage, spelling, and punctuation are followed. | 5 | 5 | The mechanics of your paper contained several grammatical errors. | Late Penalty (10% per day - cannot exceed four days) | N/A | | Kisha, overall a good effort! Keep up the good work, and if you have any questions, please let me know. | Total Points | 19 | 25 | |