1) This is the key step in the accounting cycle.

2) The accounting cycle consists of 8 steps.

3) Topics include the accounting cycle, financial statements and accounting for assets, liabilities, equities, revenues and expenses.

4) Accounting introduces the accounting cycle, the accounting equation, and financial statements.

5) Accounting cycle is an accounting procedure of recording transactions ,(http:///accounting cycle.html) which is repeated in the same order during each accounting period .

6) The first step in the accounting cycle is analysis of transactions and selected other events.

7) The accounting cycle refers to the steps of recording, classifying, and summarizing the accounting information.

8) In this case, one would proceed directly to Step 3 in the accounting cycle and post the general ledger directly.

9) Step 2. Journalize Transactions The second step in the accounting cycle is to record the results of transactions in a journal.

10) The preparation of the adjusted trial balance is a very useful step in the accounting cycle.