The accounting cycle involves a series of regularly repeated events that record business transactions, summarize financial information, and close the books at the end of each accounting period. It begins by recording financial transactions in the general ledger, then creating a trial balance of all general ledger account balances. From the trial balance, financial statements like the balance sheet are prepared, which lists assets, liabilities, and equity of the business at a point in time.

1. Presentation on:
Accounting Cycle

2. What is Cycle ?
A scries of events that are regularly repeated in the
same order.

3. What is Accounting
Accounting is the systematic and comprehensive
recording of financial transaction pertaining to a business.
Accounting also refers to the process of summarizing and reporting of
business transactions.

6. Trial balance (definition)
A trial balance is a financial report showing the closing balances
of all accounts in the general ledger at a point in time. Creating
a trial balance is the first step in closing the books at the end of
an accounting period.

11. Balance Sheet
 Balance Sheet is the financial statement of a company
which includes assets, liabilities, equity capital, total
debt, etc. at a point in time. Balance sheet includes
assets on one side, and liabilities on the other. For the
balance sheet to reflect the true picture, both heads.