AC_Unit 4_Purpose of Accounting Cycle _Jennine Bell (1).docx

AC_Unit 4_Purpose of Accounting Cycle _Jennine Bell...

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Assessment for Course Learning Objective #1: List the steps of the accounting cycle Instructions: At this point we have learned and completed all the steps in the accounting cycle, from analyzing business transactions through preparation of the post-closing trial balance. It is essential that these steps are completed correctly and in the proper order. For this assignment please identify the 10 steps in the accounting cycle and explain the purpose of each step in a short paragraph. As you are writing please keep in mind that the question is asking for the PURPOSE of each step, not HOW it is completed! When thinking about the purpose of a step consider why we are completing it or what it tells us after it is completed. Be sure that you consider the steps that we learned about in chapters 1-6, and not those from an Internet website which may be somewhat different. Please complete the essay on a Word document and upload it here. It may be completed in a listing format rather than APA style. Don’t forget to use complete sentences and correct spelling
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