The article provides a comprehensive overview of the accounting cycle, describing it as the

holistic process of recording and processing all financial transactions within a company. It
outlines the key steps in the accounting cycle, emphasizing the importance of a bookkeeper in
maintaining accurate records from transaction initiation to financial statement preparation. The
material aligns with the week's focus on working with worksheets, completing an unadjusted
trial balance, using adjusting entries, making journal entries, and creating a balance sheet and
income statement.

📝 Connection to Weekly Material

1. Transactions (Week's Material: Working with Worksheets): The article starts with
the initiation of financial transactions, a crucial step akin to working with a worksheet
where data collection begins.

2. Journal Entries (Week's Material: Making Journal Entries): Describes the process of
recording transactions chronologically, connecting with the week's lesson on making
journal entries.

3. Trial Balance (Week's Material: Completing Unadjusted Trial Balance): Highlights

the importance of the trial balance at the end of the accounting period, aligning with the
concept of completing an unadjusted trial balance.

4. Adjusting Entries (Week's Material: Using Adjusting Entries): Discusses the

necessity of adjusting entries at the end of the accounting period, corresponding to the
week's focus on using adjusting entries for accuracy.

5. Financial Statements (Week's Material: Creating Balance Sheet and Income

Statement): Explains the preparation of financial statements, directly relevant to the
week's objective of creating a balance sheet and income statement.

Source: https://corporatefinanceinstitute.com/resources/accounting/accounting-cycle/