The Accounting Cycle — KSLU Ethics Notes

The Accounting Cycle

flowchart TD
    T[Transaction Occurs] --> J[Record in Journal]
    J --> L[Post to Ledger]
    L --> CB[Maintain Cash Book separately]
    L --> TB[Prepare Trial Balance]
    TB --> Adj[Adjustments]
    Adj --> PL[Profit and Loss Account]
    PL --> BS[Balance Sheet]
    BS --> Closing[Close Books for the Year]