FINANCIAL ACCOUNTING INFORMATION

Financial Accounting Information

Financial Accounting Information

Steps in use of Financial Accounting Information

Following steps can be used in evaluating in the use of financial accounting information.

First step is to record or analyze the financial data from the ledgers and the general entries.

Second step is posting general entries to the ledgers.

Third step is to make a trial balance from the amounts extracted from the general ledgers (Internet Center for Management and Business Administration, 2007).

Making end of the period adjustments and then to make the adjusted trial balance.

Next step is to prepare the financial statement.

Last step is to journalize and post the ...