#accounting cycle

[marciodpaulla-blog]

Decoding the Business Landscape: An In-depth Exploration of Accounting, Regulatory Bodies, and Ownership Structures

Welcome to the world of accounting, a vital and fascinating field that forms the bedrock of all forms of business. Accounting, often referred to as “the language of business,” provides a structured way to record, analyze, interpret, and communicate economic information. It enables individuals and organizations to understand and control their financial operations, make informed decisions, and…

View On WordPress

#Accounting #Accounting Cycle #Accounting Processes #Business Education #Business Entities #Business Ethics #Business Finance #Business Formation #Business Growth #Business Law #Business Management #Business Models #Business Operations #Business Ownership Structures #Business Planning #Business Regulation #Business Risk Management #Business Strategy #Cooperative #Corporate Finance #Corporate Governance #Corporate Structures #Corporation #Economic Principles #FASB #Financial Accountability #Financial Analysis #Financial Management #Financial Planning. #Financial Regulations

[gccexchange]

What Is the Accounting Cycle?

Accounting is a fundamental aspect of running any successful business. It involves recording and tracking financial transactions, preparing financial statements, and ensuring compliance with relevant laws and regulations. The accounting cycle is the process businesses use to record and analyze financial information. It is a series of steps that helps businesses keep track of their financial…

View On WordPress

#accounting cycle #accounting cycle example #steps of accounting cycle

[arvadaaxel]

The accounting cycle is the process of recording, classifying, and summarizing financial transactions to provide information that is useful for making business decisions. In the UK, the accounting cycle is governed by a set of laws and regulations that all businesses must follow. This guide will provide an overview of the accounting cycle in the UK and the steps that businesses need to take to ensure compliance.

#Accounting Cycle #Accounting #Tax #VAT

[lisashines]

#accounts #management #financial statements #trial balance #Accounting #Term of the Day #Trial balance #accounting cycle #Instagram

[pndaccountant]

What is the Accounting Cycle?

The accounting cycle is a collective process of identification, analysis, and recording of the accounting facts of a company. It is a standard 8-step process that begins when a transaction occurs and ends with its inclusion in the financial statements.

The key steps of the eight-step accounting cycle include:

Recording journal entries.

Posting to the general ledger.

Calculating trial balances.

Adjusting entries.

Creating financial statements.

KEY CONCEPTS

·       The accounting cycle is a process designed to facilitate the financial accounting of their activities for entrepreneurs.

·       The first step of the eight-step accounting cycle is recording transactions through journal entries, and it ends with the eighth step of closing the books after preparing the financial statements.

·       The accounting cycle usually comprises a year or other accounting period.

·       Accounting software now largely automates the accounting cycle.

How the Accounting Cycle Works?

The accounting cycle is an organized set of rules to ensure the accuracy and conformity of financial statements. Computerized accounting systems and the accounting cycle's uniform process have helped reduce mathematical errors. Today, most software programs fully automate the accounting cycle, resulting in less human effort and the errors associated with manual processing.

Accounting Cycle Stages

 The accounting cycle consists of eight steps.

1.      Identify transactions: An organization begins its accounting cycle by identifying the transactions that make up an accounting event. It can be a sale, a refund, a payment to a supplier, etc.

2.     Record transactions in a journal: Transactions are then recorded using journal entries. Entries are based on the receipt of an invoice, the recognition of a sale, or the performance of other economic events.

3.     Posting: Once a transaction is recorded as a journal entry, it must be posted to a general ledger account. The general ledger provides a breakdown of all accounting activities by account.

4.     Unadjusted Trial Balance: After the business posts the entries to the individual general ledger accounts, an unadjusted trial balance is prepared. The balance of sums and balances guarantees that the total of debits equals the total of credits in the financial records.

5.     Spreadsheet: The analysis of a spreadsheet and the identification of adjusting entries constitute the fifth step of the cycle. A worksheet is created and used to ensure that the debits and credits are the same. If there are discrepancies, adjustments will have to be made.

6.    Adjustment of entries: At the end of the period, adjustment entries are made. These result from corrections made to the worksheet and the passage of time. For example, an adjusting entry may earn interest income that has been earned over time.

7.     Financial Statements: Following the posting of adjusting entries, the company prepares an adjusted trial balance, followed by actual formalized financial statements.

8.     Closing the books: An entity finalizes temporary accounts, income, and expenses, at the end of the period using closing entries. These closing entries include the transfer of net income to retained earnings. Lastly, a business prepares the post-closing trial balance to ensure the debits and credits match up, and the cycle can start anew.

Accounting Cycle Calendar

The accounting cycle begins and is completed within an accounting period when the financial statements are prepared. Accounting periods vary and depend on different factors; however, annual is the most common accounting period type. During the accounting cycle, many transactions occur and are recorded.

At the end of the year, financial statements are usually prepared and are often required by regulation. Public entities are required to present financial statements on certain dates. Therefore, your accounting cycle revolves around the reporting requirement dates.

The Accounting Cycle vs. the Budget Cycle

The accounting cycle is different from the budget cycle. The accounting cycle focuses on historical events and ensures that the financial transactions are correctly communicated. Instead, the budget cycle is concerned with future operating performance and planning for future transactions. 

The accounting cycle helps produce information for external users, while the budget cycle is used primarily for internal management.

#accounting cycle #accounting services #accounting #pndaccountants #pnd

[business-in-indonesia]

Why More Indonesian Businesses Need Digitalization

Digitalization is expected to assist businesses in Indonesia create more value on new frontiers. If you want to be digital you would need to be open to examining time and again the way that you do business. At the same time, you would have to understand the areas where you can create the new frontiers of value. For some companies, this could mean creating value in categories that are adjacent to their core area of expertise. For others, it could be about identifying and then going after value pools in sectors where they are already working. If you want to create value from the emerging sectors you would have to be committed to understanding the implications that marketplace developments could have on your business.

Creating value in core business areas 

There is a lot more to this than looking at accounting cycles and only trying to earn profits. As a business, you have to rethink how you can bring to bear new capabilities that would help you serve your customers a lot better. You have to base this approach on understanding every step that a customer takes in their purchasing journey. The channel is not really that important in this case.

Building digital capabilities at a foundational level 

As a company, you have to look past things such as the balance sheet when you are trying to do things such as these. These are organizational and technological processes that we are talking about over here. This would allow an enterprise to be fast and agile. The two most important elements that are basic to such an exercise are mindsets and data & system architecture. Going digital implies using data so that you can make decisions that are faster and better. It means you are letting smaller teams make critical business decisions.

Now the question that needs to be asked in this case is how can you win in the digital age? You have to use the best software from companies such as Tally Solutions - this much is obvious. Apart from that, you have to define customer-centric experiences, create omnichannel engagement, use big data to make decisions in real-time, double down on cyber-security, and build digital capabilities that are relevant to your business. A lot of businesses in Indonesia are starting digital programmes but not aligning them with their business strategy. However, if they wish to unlock their potential in this context these are the factors that they have to look into.  

#accounting cycle #balance sheet

[undead-knick-knack]

No I don't think she will 😌

#she's gonna cycle thru all manipulation tactics before considering apologizing to orym #critical role #critrole #critrole memes #bells hells #bell's hells #ashton greymoore #laudna #ashton was probably the closest to holding laudna accountable (except for orym of course) #apology #apologize #sorry #marge simpson #cr spoilers #cr memes #cr shitpost #courtesy of me #cr campaign three #crit role #critrole meme #cr3 #cr c3

[visenyaism]

booktok is stealing valor because i don’t have to imagine this is just my nine to five already

#having to make a new managebac account had my contemplating that uh. maybe i did nottt break the cycle

[spitefularoandbi]

It has always bothered me how aroaces can pull the "it's the same thing," bc that has been said to me before. But my aro-ness cannot be singularly just aro without being assumed to be aroace by even people I've come out to before. And so then it's made aware that I'm still allosexual, just like I was before when I came out as bi, and suddenly that's contradictory and two separate things and how uncomfortable most aces can get about allosexual things - even tho my aromanticism defines my sexuality and my sexuality is an aromantic sexuality. For me it is one and the same too, but I have to be ripped apart to just belong as "aro." Rinse, repeat, for 12 years now. Rinse, repeat.

#this is an aroallo post #aroallo #alloaro #i hope this made sense. im just cycling through thinking about deleting this aro account too #my posts #im not sure if i should tag as non sam aro but i often do think of myself as Just Aro. ya know? but with like 80%of the aspec community #being ace its kinda like 'ace or bust' so aroallo fits the best for me lol #also im estimating 12 years. i started college.... 13 years ago. and thats when i started questioning. so 12 is roughly right #im actually worried to hit post lol. but i have felt this way for a long time and this week on tumblr has me feeling a way

[shitboxcar]

Ronan lynch had it so right why would i want school or a job or any bullshit when I have money a sick ass ranch n most importantly the best person ever as a future husband. What else can a man wish for

#sorry the adam bias slipped out #ronan is such a character i see myself in im thinking abt bro tonight #anyway say i ever did want to become an accountant #ill just dream up the paper requirements for it hellooo? #im sure organic chemistry tutor can teach me how to accountant on the spot nbd #oh declan #anyway #gn #ronan lynch #trc #the raven cycle #tdt #the dreamer trilogy #shit.post

[prettyiwa]

Every so often I see anons in mutuals’ inboxes not understanding the deal against empty blogs even if there’s an age, or about blogs that don’t reblog and it just reminds me of how quickly we forget and how quickly we cycle through toxic phases in this community. It's partially because it’s ever-growing with people from Reddit and Twitter and Wattpad writers and everyone else not listed.

It comes and goes in fucking waves so it’s easy to miss if you aren’t here for it, but every handful of months there’s some mass post going around where a writer has been informed of or found their writing (and others') stolen and reposted on another site (9 times out of 10 it’s Wattpad) with the poster taking credit. So often that account and plagiarizer is traced back to an empty blog that’s following all the blogs it stole from. Sometimes they’ll even leave a like that serves as a bookmark so they can come back and steal those words for fake internet points.

Like. For people who have been subjected to that kind of theft, there’s anxiety and distrust that remains. For people who watched it happen (especially time and again because it’s multiple times a year), there’s that voice in the back of their mind when they see someone with a blog that has a header of “Kayleigh (19) Just Reading!!” and nothing else.

And so either these anons who don’t understand why they can’t “lurk in peace” genuinely do not know about the cycle that happens here or they do not care for the people writing the stories and HCs and drabbles they passively enjoy.

Regardless, it only contributes to that growing feeling of being yet another source of quick and convenient consumption and not an actual person sharing their passion with people who might like it.

#sorry I’m salty #idek if this is halfway coherent but yeah #It’s very frustrating watching history repeat itself especially on a site like this when history is easily forgotten and the cycle is much #much shorter #almost like it’s also tied to fiscal quarters #“it's my choice to have my name/age/reblogs on my account!” that is very much true. it is your choice. i respect your choice. #now it's your turn to respect the choice of the writer for which that is a boundary. #you expect us to respect your choices that are indicative of your humanity but you won't offer the same? get the fuck out of here

[thepeacefulgarden]

#breaking the cycle #generational trauma #unhealthy relationships #it stops with me #hard life lessons #accountability #self care #healing #recovery #self respect #boundaries #codependency

[vacancy90]

#i went through the alpecin insta account all the way back to their beginnings and found this #and i was thinking about bear huggies wout? #yeah #see where i'm coming from? #🐻💕 #daily mathieu post #mvdp #mathieu van der poel #cycling

[ennas-aesthetic]

I have prayed for an ending. I did not think that you would be the one to grant it.

(a.k.a Dream trying to be a better father than Time had ever been.)

The Sandman: Overture 4, 2014 // Brief Lives: Part 9, 1993

#the sandman #dream of the endless #netflix the sandman #the sandman comics #the sandman spoilers #lord morpheus #Time The Sandman #Orpheus the Sandman #breaking the cycle of generational trauma #like by all accounts Dream being the way that he is is the BEST CASE scenario #brief lives #the sandman: overture

[blueskittlesart]

POST MORE SWORD OF FATE PLS IM BEGGING

i have very little in terms of actual art LMAO but i CAN explain the sword thing because i checked and i did in fact never make this plot point public. i struggled for a while with creating a villain for this story until i realized that. i put "sword" in the title of the game. of course it has to be about the fucking sword. DUH.

so i want SOF to deal very heavily with religion, specifically the way in which hyrule's religion forms post-sksw but pre-reincarnation. i've placed it on the timeline directly after sksw, making it the first actual reincarnation in hyrule. what this means is that there's no actual proof yet that the reincarnation thing is real and not just an insane bluff on demise's part, and so several key characters including link and zelda barely believe in hylia or demise at all when the story starts. my thought with this setting's version of ganon is that he's the polar opposite of the nonbelievers. The gerudo don't really exist as of now, but he DOES come from the desert region of hyrule--specifically, he was raised in a cultlike offshoot of the sheikah religion which interpreted the hylia/demise myth completely literally and believes that a doomsday is coming, heralded by the foretold return of demise. Because of this, he knows more about the cycle and how to set it in motion than basically any other character. Crucially, he and his people are some of the only ones at this point aware of the existence of the master sword.

ganon finds. a sword. a sword which he THINKS is the master sword. and this theory is only reinforced when the sword begins to speak to him about his destiny and the salvation of hyrule. unfortunately it is not the master sword and he ends up basically a pawn in the greater plans of what's left of demise & ghirahim within that sword, manipulated into attempting to revive demise and destroy the reincarnated hero and princess. he remains in denial until basically the very end of the final battle, completely convinced that he is the true savior of hyrule and LINK is the one being misled. ghirahim is a very good manipulator lol

#i know that the sword like dies with demise in sksw or whatever but this is my game and i can do whatever i want so ive decided it survives #because i need a plot device. ok. work with me here #asks #loz: sword of fate #anyway the religion thing is something that i really wanted to explore bc it fascinates me. bc obv in later cycles everyone believes #because they KNOW its true and have like. historical evidence of it. but what about the first few times it happened? post-sksw they had no #way of knowing if demise would make good on his promise or not. i can see belief vs nonbelief being a very strong dividing factor among #early hylians. its fascinating to me. lol #anyways zelda specifically fully believes that the hylia shit was made up by her great great grandparents or whatever as a power grab lmao #link is kinda like whatever. sure the goddess exists i guess ill pray to her sometimes but like did she actually found hyrule? probably not #and ganon and his people are HARDCORE believers. like to-the-letter. because of this they have one of the most historically accurate #accounts of hyrule's founding (which no one BELIEVES is accurate at this point. but it is) and have managed to hold onto records of both #the master sword and demise when society at large has basically either forgotten or decided to ignore them #wow. i forgot how fun sof is to write about. holy shit

[yinyuedijun]

needing to build himeko after putting it off for a whole year feels so tragic 😔 I can't believe pure fiction would do this to me......

#ION WANNA FARM THE FUA CAVERN 😭😭😭 #yueshuo #my argenti not carrying me in pf4 feels like a betrayal. wtf hyv #also people who were like 'aventurine wont make a difference to moc cycles' didnt account for pure fiction #my man is saving argentis ass with his hunt level ult dmg lol