Identify the basic steps in the recording process

Q. Identify the basic steps in the recording process (June’13).

Or. What are the steps in the recording process in accounting?

Basic steps in the recording process: The basic steps in the recording process are identify and analyzing transaction and events

Þ    Recording in journals

Þ    Posting to the ledger

Þ    Unadjusted trial balance

Þ    Adjusting entries

Þ    Adjusted trial balance

Þ    Financial statement

Þ    Closing entries and

Þ    Post closing trial balance

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