Accounting Cycle Step 1: Analyze Transactions

This video will take you through the various accounting transactions and explain the posting process. Take note of how each transaction affects accounts on the balance sheet and income statement. Though the steps might seem dull and uninteresting, it is important that you be very detailed when journalizing and posting. If you slip up, you will be out of balance and you will have to go back and retrace your steps.

Source: Dave Alldredge
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Last modified: Tuesday, September 14, 2021, 3:05 PM