Accounting Cycle
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Title: Accounting Cycle

Essay Details:

Subject: Business
Author: Irene B
Date: February 15, 2016
Level: University
Grade: B
Length: 1 / 295

Essay text:

First you prepare a trial balance to make sure that debits equal credits. Next you prepare adjusting entries, post them to the ledger accounts and prepare the adjusted trial balance. Once this has been done you can then prepare the financial statements. The step is followed by preparing closing journal entries, preparing an after-closing trial balance and then preparing the reversing journal entries. In my organization, Xanterra Parks & Resorts, we have an accounting department that takes care of all accounting reporting and handles most transactions. Each of the nine locations and hotels within the park also have a controller and auditors who are responsible for the accounting matters and money transactions at their location...

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