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Describe the accounting cycle in sequential order

Assignment Help Accounting Basics
Reference no: EM133135193

Question - The goal of this assignment is to apply the concepts learned in the accounting cycle and its relation to the Generally Accepted Accounting Principles (GAAP).

Required -

1. Describe the accounting cycle in sequential order the steps accountants take to publish the financial statements and prepare for the next fiscal year by closing the books.

2. How does the accounting cycle relate to the Generally Accepted Accounting Principles?

Reference no: EM133135193

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