• Unit 4: Completing the Accounting Cycle

    Up until this point in the course, you have been learning how to take the transactions that happen within a business entity and process this raw data into useable information. As mentioned earlier in the course, this useable information comes in the form of the financial statements. This section of the course will explain how to review and summarize the accounting cycle, as well as prepare the income statement, the statement of retained earnings, and the balance sheet. Additionally, you will be provided with insight on how to use an accounting worksheet to organize your work, prepare adjusting entries, and complete a post- closing trial balance.

    Completing this unit should take you approximately 3 hours.

    • 4.1: Completing the Accounting Cycle

    • 4.2: The Closing Process

    • Unit 4 Assessment