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"]