what is accounting cycle ?



what is accounting cycle ?..

Answer / ovenkat4

The accounting cycle is the process of rotating the financial balances of the company. The accounting process is Journals, Book keeping, Ledgers, Subsidiary books, Trail balance, Profit and loss a/c, Balance sheet. This is the process, then the process will start from the journals, automatically this process is runes in the organisation.

Is This Answer Correct ?    13 Yes 4 No

Post New Answer

More Accounting General Interview Questions

Goods lost by fire rs.5000 it was partly insured insurance company admit the claim for 3500 what will be the journal entry

3 Answers   SRLF,


what is debit and credit?

1 Answers   Genpact, Infosys, Nainital Bank, Satyam,


What Is The Difference Between Bill and Invoice.

2 Answers  


Hi to All any body pls. tell me the entry for tds in salary example-- one employee salary 25000 tds will be 1000 how to deduct and what will be the entry for above transactions

9 Answers  


After close Balance Sheet, we find a expense which was wrongly debited in Profit and Loss A/c. How we adjust next accounting period?

0 Answers   Sky Link,






What are the major difference between US GAAP & Indian GAAP.? Where US GAAP is exactly & highly differenciated from Indian GAAP..? Your answer will be highly appreciated. Thanks in advance.

2 Answers  


What are the functions of a General Ledger? What accounts are usually maintained in it and from what subsidiary books are they derived?

1 Answers   Broadridge,


Journal entry for interest received

5 Answers   Atkins, CP,


Suppose we are getting a TDS Certificate from our vendor's how can enter the same in our books.

1 Answers  


Give an accounting treatment for Investment made worth 100 today,after 6months its value is 60.

2 Answers   Cognizant,


Do you possess any knowledge about accounting standards?

0 Answers  


What is ERS(Evaluated Receipt Settlement) in Accounts Payable? How is it related to 2 way matching?

1 Answers   Genpact, Jenpac,


Categories