Steps of Accounting Cycle

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

What is the Accounting Cycle?

What is the accounting cycle? The accounting cycle is a sequence of steps that occur in the accounting period and include the processes of identifying, collecting, analyzing documents, recording transactions, classifying, summarizing, and reporting financial information of an organization.

Steps in the Accounting Process

Steps in the Accounting Process - The Accounting Process is a sequence of organization activities that is used for gaining quantitative information about the finances. This complex process consists of a set of sequential steps. 9 steps in the accounting process: Analysis of Business Transactions, Make Journal Entries, Post to Ledger Accounts, Prepare Trial Balance, Make Adjusting Entries, Adjusted Trial Balance, Prepare Financial Statements, Close Accounts, Post-Closing Trial Balance.

Audit Procedures

Audit procedures are the specific tests and methods that auditor executes when gathering the evidence which are necessary for making an opinion on the financial statements of the firm. There are three types of audit procedures: data selection, reliability validation, relevance confirmation. Thanks to the extensive drawing tools which provides the Audit Flowcharts solution from the Finance and Accounting area of ConceptDraw Solution Park, you can easy and effectively develop and realize various audit procedures.

Accounting Flowchart

Accounting flowchart is a system of processes to represent accounting system of an organization. If you need to know how accounting processes work and how each operation is done, the Accounting Flowcharts Solution for ConceptDraw PRO has a predesigned library, tips, methods and symbols for easy drawing an Accounting Flowchart.

Types of Flowcharts

A Flowchart is a graphical representation of process, algorithm, workflow or step-by-step solution of the problem. It shows the steps as boxes of various kinds and connects them by arrows in a defined order depicting a flow. There are twelve main Flowchart types: Basic Flowchart, Business Process Modeling Diagram (BPMN), Cross Functional Flowchart, Data Flow Diagram (DFD), IDEF (Integrated DEFinition) Flowchart, Event-driven Process Chain (EPC) Diagram, Influence Diagram (ID), Swimlane Flowchart, Process Flow Diagram (PFD), Specification and Description Language (SDL) Diagram, Value Stream Mapping, Workflow Diagram. Using the Flowcharts solution from the Diagrams area of ConceptDraw Solution Park you can easy and quickly design a Flowchart of any of these types. This solution offers a lot of special predesigned vector symbols for each of these widely used notations. They will make the drawing process of Flowcharts much easier than ever. Pay also attention for the included collection of ready Flowchart examples, samples and quick-start templates. This is business process improvement tools. If you are looking for MS Visio for your Mac, then you are out of luck, because it hasn't been released yet. However, you can use Visio alternatives that can successfully replace its functions. ConceptDraw PRO is an alternative to MS Visio for Mac that provides powerful features and intuitive user interface for the same.

Flow Chart Symbols

ConceptDraw PRO software extended with Flowcharts Solution from the "Diagrams" Area is a powerful software that will help you design the flowcharts for any business and technical processes, and software algorithms thanks to the predesigned flow chart symbols. Flowcharts solution offers 2 libraries with large collection of vector flow chart symbols: Flowchart Library, Flowcharts Rapid Draw Library that you can use to create your flowcharts quick and easy. Flowchart Solution is number of diagraming stencils including special set of flow chart symbols such as: terminator, process, decision which indicates a decision points between two or more paths in a flowchart, symbol of delay. Major symbols includes symbol of data, document or multiple documents, subroutine, preparation for processing of documents. Also includes symbols: display, manual input, manual loop, loop limit, stored data,connectors and suming junctions, sort and merge operations, symbols of database and internal stor

Drawing Workflow Diagrams

Drawing workflow diagrams combines both creative and analytic practice. To be the most effective in this process you should find a software that suites this kind of practice. Using ConceptDraw PRO software for drawing workflow diagrams you get support of features, libraries, templates and samples boosts you creativity and keep you focus on analytic practice, not drawing specifics.

Process Flowchart

The main reason of using Process Flowchart or PFD is to show relations between major parts of the system. Process Flowcharts are used in process engineering and chemical industry where there is a requirement of depicting relationships between major components only and not include minor parts. Process Flowcharts for single unit or multiple units differ in their structure and implementation. ConceptDraw PRO is Professional business process mapping software for making Process flowcharts, Process flow diagram, Workflow diagram, flowcharts and technical illustrations for business documents and also comprehensive visio for mac application. Easier define and document basic work and data flows, financial, production and quality management processes to increase efficiency of your business with ConcepDraw PRO. Business process mapping software with Flowchart Maker ConceptDraw PRO includes extensive drawing tools, rich examples and templates, process flowchart symbols and shape libraries, smart connectors that allow you create the flowcharts of complex processes, process flow diagrams, procedures and information exchange. Process Flowchart Solution is project management workflow tools which is part ConceptDraw Project marketing project management software. Drawing charts, diagrams, and network layouts has long been the monopoly of Microsoft Visio, making Mac users to struggle when needing such visio alternative like visio for mac, it requires only to view features, make a minor edit to, or print a diagram or chart. Thankfully to MS Visio alternative like ConceptDraw PRO software, this is cross-platform charting and business process management tool, now visio alternative for making sort of visio diagram is not a problem anymore however many people still name it business process visio tools.