Accounting cycle MBA

[pooja]

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Hello sir, how many stages are provided in Accounting cycle for MBA? Please show me info about Accounting cycle MBA?

[pooja]

The Accounting cycle in MBA is a sequence of accounting procedures which are used to record, classify and summarize accounting information.

The accounting cycle is begins with the initial recording of business transactions and concludes with the preparation of formal financial statements summarizing the effect of these transactions upon the assets, liabilities and owners equity of the business.

The term cycle indicates that these procedures must be repeated continuously to enable the business to prepare new and up-to-date financial statements at reasonable intervals.

Accounting Cycle Steps:
Identifying and Analyzing Business Transactions
Recording in the Journals
Posting to the Ledger
Unadjusted Trial Balance
Adjusting Entries
Adjusted Trial Balance
Financial Statements
Closing Entries
After closing trial balance

Supplies information to:

Managers who guide the company
Investors who want to know how the business is doing
Analysts and brokerage firms dealing with the companys stock
The government, which decides how much tax should be collected from the company

Accounting Concepts:

Business entity concept
Money measurement concept
Dual aspect concept
Going concern concept
Cost concept
Accounting year concept
Matching concept
Realisation concept

Accounting Cycle (Sole Proprietorship)
This course covers the various topics
Students navigate learning paths based on their level of readiness.
You may customize the scope and sequence to meet your curricular needs.

Journal Entries topics cover:

Normal account balances
Basic journal entry with the step-through method
Journalization of transactions
Ending balances of accounts