Accounting cycle comprises all of the accounting activities,
from the recording of transaction up to the preparation of
financial statements, which are repeatedly performed in every
accounting period.
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The sequence of activity which are followed in an
organization,where accounting is pratise.the sequence of accounting
procedure used to record classify and summarize accounting
information is known as ACCOUNTING CYCLE/PROCESS.
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Accounting cycle comprises all of the accounting activities,
from the recording of transaction up to the preparation of
financial statements, which are repeatedly performed in every
accounting period.
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An accounting cycle is basically all of the accounting
procedures. This starts with journal entries and ends with the
financial statements and closing of temporary accounts.