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There are two components to this part of the final project: an accounting

cycle workbook (submitted in Module Six) and an accounting cycle report (submitted in Module Seven).
Then, prepare a brief report that lays out the steps of the accounting cycle, explaining what each step does, why it is important to the success of a business, and what financial information is produced at the end of the cycle.
Specifically, the following critical elements must be addressed:
Accounting Cycle Report
a) Identify the steps of the accounting cycle and provide a description of each step.
b) What role does each step play in the success of a business?
c) How could the omission of a step impact the success of a business? What strategies could be used to avoid this?
d) What are the major financial statements that come out of the accounting cycle? Why are they important?
a) Identify the steps of the accounting cycle and provide a description of each step.
b) What role does each step play in the success of a business?
c) How could the omission of a step impact the success of a business? What strategies could be used to avoid this?
d) What are the major financial statements that come out of the accounting cycle? Why are they important? if u want I will open another project relate with new price .....the template is attached ...............LET ME KNOW


Running head: ACC 201 FINAL PROJECT PART I ACCOUNTING CYCLE REPORT 1 DELETE EVERYTHING THAT APPEARS IN RED Review the Final Project Part I Guidelines and Rubric document to see how your paper will be scored. Be sure to follow APA format when providing references. If you have questions on APA formatting, you can check the Purdue OWL website or seek help from the SNHU Writing Lab . Notes on APA in a Formal Assignment Use one-inch margins on all sides. Use 12-point Times New Roman font with double spacing. Paragraphs should be at least three to four sentences in length. Do not include the headings “Introduction” and “Conclusion.” These are included below to help you lay out your paper. APA format assumes that the introduction begins the paper, the body continues the paper, and the conclusion wraps up the paper, so those headings are not needed. Indent the first line of every paragraph by 0.5”. Be careful not to use personal pronouns such as “I.” Make sure to delete headings such as Paragraph One, Paragraph Two, and so on. Be sure to replace all of the text in red with your own writing. (This entire first page can be deleted after you review the guidelines. Your paper should begin with the title page that follows.)
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ACC 201 Final Project Part I Accounting Cycle Report 2 ACC 201 Final Project Part I Accounting Cycle Report Your Name Southern New Hampshire University
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ACC 201 Final Project Part I Guidelines and Rubric Overview One of the measures of success in any business is profitability. Managers and business owners must be able to assess the profitability of a company using information about its financial transactions. This is done through the use of accounting. By working through the accounting cycle, you will understand how money flows through a company. This information can help you determine whether or not an organization can afford to stay open while employing current practices and what types of changes might be needed to allow the organization to become profitable if it is currently struggling financially. This process also helps you understand the level of attention to detail that is required in a successful business venture. The assessment for this course consists of two major parts: an accounting workbook with supporting accounting cycle report and a memo that uses financial statements to assess whether a business is going in the right direction. In the accounting workbook, you will use course-provided information to record journal entries that document financial transactions in a business. To do this, you will follow the business transactions for a three-month period, starting from step one of the accounting cycle through the reporting process. These transactions will include the initial setup of the business, sales, and purchases, making payments to vendors, paying store employees, and managing debt. You will then create a brief report explaining the steps of the accounting cycle and the significance of those steps and the financial statements that come out of them for the business. The accounting workbook and accounting cycle report will prepare you for the second part of final project, which consists of a memo to request funding for potential expansion. The memo will overview the company’s accounting system, discuss what the financial statement suggests about the company’s strengths and weaknesses, and present opportunities for future growth. This first part of the final project addresses the following course outcomes: Apply the accounting cycle to business transactions for communicating financial data Analyze the steps of the accounting cycle for their impact on the success of a business
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Prompt Your dog, Peyton, has severe allergies and cannot have the usual store-bought dog treats. You have been making homemade treats for him that are all-natural and hypoallergenic. Over the past year, you have been making and selling these treats out of your home and have been quite successful. You now have an opportunity to open your own dog treat bakery. You have decided on a corporate form of business and have named your company “Peyton Approved.” There are two components to this part of the final project: an accounting cycle workbook (submitted in Module Six) and an accounting cycle report (submitted in Module Seven). To complete the first component, use accepted accounting principles to follow and record your business transactions for a three-month period from step one of the accounting cycle through the reporting process. Enter your transactions in the workbook provided. Your completed workbook will consist of journal entries for each transaction and postings of transactions to account ledgers. You will develop a trial balance from ledger balances and adjust revenue and expense accounts as necessary to ensure that revenues and expenses are reported in the appropriate period under the accrual accounting method. The adjusted trial balance will be used in preparation of the income statement, statement of owner’s equity, balance sheet, and statement of cash flows. After preparation of financial statements, closing entries will be entered to transfer earnings to equity and prepare temporary accounts for the new accounting period. Then, prepare a brief report that lays out the steps of the accounting cycle, explaining what each step does, why it is important to the success of a business, and what financial information is produced at the end of the cycle. Specifically, the following critical elements must be addressed: Accounting Cycle Workbook a) Record all journal entries . Be sure that all information is recorded accurately. b) Post entries to appropriate ledger accounts . Ensure all information is posted accurately. c) Prepare unadjusted trial balance . Ensure unadjusted trial balance is prepared accurately. d) Interpret trial balance and make appropriate end of period adjustments. e) Post adjusted entries and prepare the adjusted trial balance. f) Apply adjusted trial balance and prepare financial statements. g) Close all temporary income statement accounts and create closing entries. h) Prepare the post-closing trial balance for the next accounting period. i) Cancel any applicable temporary adjusting entries and prepare reversing entries. Accounting Cycle Report a) Identify the steps of the accounting cycle and provide a description of each step. b) What role does each step play in the success of a business? c) How could the omission of a step impact the success of a business? What strategies could be used to avoid this? d) What are the major financial statements that come out of the accounting cycle? Why are they important?
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Subject: Accounting, Business

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