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Unformatted text preview: Accounting Period then the summation and reporting phase of the Accounting Cycle begins with the steps below the diamond. Accounting education can be confusing because the accounting logic you will learn really starts with the Balance Sheet down in the Financial Statements box. By using this reference guide you can quickly see where you are in the process as you study. Yes The financial statements must be done in the order presented. The result of the preceding one becomes part of the following statement....
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- Spring '10