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Steps of Accounting Cycle

The accounting cycle is a complex process that consists of a set of steps occurred in the accounting period. It is called a cycle because the accounting workflow is circular: after execution one accounting period consisting of a sequence of steps of accounting cycle, starts the next accounting period.

The steps of accounting cycle include the processes of identifying, collecting, analyzing documents, recording transactions, classifying, summarizing, posting, and preparing trial balance, making journal entries, closing the books and final reporting financial information of an organization.

Steps of Accounting Cycle

Sample 1. Steps of Accounting Cycle

The execution of the eight basic steps of accounting cycle leads to success work of your organization.

ConceptDraw DIAGRAM diagramming and vector drawing software extended with Accounting Flowcharts Solution provides the Accounting Flowcharts library with predesigned vector shapes, variety of templates and samples to help you easily show the steps of accounting cycle and quickly design the accounting flowcharts.

Steps of Accounting Cycle *

Sample 2. Accounting Flowcharts – Purchasing Flowchart

This sample was created in ConceptDraw DIAGRAM using the Accounting Flowcharts library from the Accounting Flowcharts Solution and shows the purchasing process flow. An experienced user spent 10 minutes creating this sample.

Use the ConceptDraw DIAGRAM with Accounting Flowcharts Solution to create your own professional Accounting Flowcharts of any complexity quick and easy.

The Accounting Flowcharts produced with ConceptDraw DIAGRAM are vector graphic documents and are available for reviewing, modifying, and converting to a variety of formats (image, HTML, PDF file, MS PowerPoint Presentation, Adobe Flash or MS Visio).






TEN RELATED HOW TO's:

Why Flowchart Important to Accounting Information System? →

The Accounting flowchart shows how information flows from source documents through the accounting records. The are based on the accounting procedures or processes. Flowcharts are used to represent accounting information in a system. There are special symbols which are used to create accounting flowcharts. Try conceptdraw flowcharting set of symbols to draw a professional charts.Why Flowchart Important to<br> Accounting Information System? *
Picture: Why Flowchart Important to Accounting Information System?
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Purchasing Flowchart - Purchase Order. Flowchart Examples →

Create your own flow charts of purchasing business processes using the ConceptDraw DIAGRAM diagramming and vector drawing software extended with the Accounting Flowcharts solution from the Finance and Accounting area of ConceptDraw Solution Park. The flow chart example shows the steps of purchasing business process.Purchasing Flowchart - Purchase Order. <br>Flowchart Examples *
Picture: Purchasing Flowchart - Purchase Order. Flowchart Examples
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How to Create Flowcharts for an Accounting Information System →

It can be tough to get straight into business papers and processes.Otherwise, you can learn how to create flowcharts for an accounting information system and visualize these documents. Accounting diagrams are clear and easy to understand for all the participants of the process. There are symbols used for creating accounting flowcharts using ConceptDraw DIAGRAM and its Accounting Flowcharts solution. Accounting flow charts are a special kind of flow charts. Actually a variety of flowcharts are often used to facilitate many aspects of a workflow of accounting department. Accounting flowcharts are utilized to support creating accounting documentation, to depict positions responsible for fulfillment of each phase of accounting workflow.How to Create Flowcharts for an <br>Accounting Information System *
Picture: How to Create Flowcharts for an Accounting Information System
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Audit Steps →

Audit Steps - The auditing process is an independent examination of data, statements, operations, records, financial or otherwise performances of an enterprise for any stated purpose. It is a complex process that includes 10 audit steps: Notification, Planning, Opening Meeting, Fieldwork, Communication, Draft Audit, Management Response, Final Meeting, Report Distribution, Feedback.Audit Steps *
Picture: Audit Steps
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Approval Process and Segregation of ResponsibilitiesAccounting Flowchart Example →

How to build segregation of duties using drawing tools from Accounting Flowcharts Solution for ConceptDraw DIAGRAM software.Approval Process and Segregation of Responsibilities<br>Accounting Flowchart Example *
Picture: Approval Process and Segregation of ResponsibilitiesAccounting Flowchart Example
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3 Circle Venn Diagram. Venn Diagram Example →

This template shows the Venn Diagram. It was created in ConceptDraw DIAGRAM diagramming and vector drawing software using the ready-to-use objects from the Business Diagrams Solution from the Management area of ConceptDraw Solution Park. Venn Diagrams visualize all possible logical intersections between several sets and are widely used in mathematics, logic, statistics, marketing, sociology, etc.Venn Diagram Example - 3 Circle Venn Diagram
Picture: 3 Circle Venn Diagram. Venn Diagram Example
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Process Flowchart →

When trying to figure out the nature of the problems occurring within a project, there are many ways to develop such understanding. One of the most common ways to document processes for further improvement is to draw a process flowchart, which depicts the activities of the process arranged in sequential order — this is business process management. ConceptDraw DIAGRAM is business process mapping software with impressive range of productivity features for business process management and classic project management. This business process management software is helpful for many purposes from different payment processes, or manufacturing processes to chemical processes. Business process mapping flowcharts helps clarify the actual workflow of different people engaged in the same process. This samples were made with ConceptDraw DIAGRAM — business process mapping software for flowcharting and used as classic visio alternative because its briefly named "visio for mac" and for windows, this sort of software named the business process management tools. This flowchart diagram shows a process flow of project management. The diagram that is presented here depicts the project life cycle that is basic for the most of project management methods. Breaking a project into phases allows to track it in the proper manner. Through separation on phases, the total workflow of a project is divided into some foreseeable components, thus making it easier to follow the project status. A project life cycle commonly includes: initiation, definition, design, development and implementation phases. Distinguished method to show parallel and interdependent processes, as well as project life cycle relationships. A flowchart diagram is often used as visual guide to project. For instance, it used by marketing project management software for visualizing stages of marketing activities or as project management workflow tools. Created with ConceptDraw DIAGRAM — business process mapping software which is flowcharting visio alternative or shortly its visio for mac, this sort of software platform often named the business process management tools.Process Flowchart
Picture: Process Flowchart
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Gather Requirements Exchanging Mind Maps with Evernote →

Critical information from your mindmaps can be accessed from almost any device using ConceptDraw MINDMAP and Evernote.Gather Requirements Exchanging Mind Maps with Evernote *
Picture: Gather Requirements Exchanging Mind Maps with Evernote
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Draw Flowcharts with ConceptDraw →

Start design your own flowchart with ConceptDraw DIAGRAM and accomplish great results at the moment.Draw Flowcharts with ConceptDraw *
Picture: Draw Flowcharts with ConceptDraw
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Accounting Flowchart: Purchasing, Receiving, Payable and Payment →

Accounting flowchart is a system of processes to represent accounting system of an organization. How to create flowcharts for an accounting information system.Accounting Flowchart: Purchasing, Receiving, Payable and Payment
Picture: Accounting Flowchart: Purchasing, Receiving, Payable and Payment
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