What are the steps in the accounting process that must be known?

What are the steps in the accounting process that must be known?

In accounting, there are 6 steps of the accounting process or The Accounting Process, which we will get to know about the 6 steps of the accounting process in this article.

The steps of the accounting process are:

1.Analyzing Analysis steps

The analytical step is the one used for determining things. Whether it is an event or item that occurs in business operations.

2.Recording the process of recording data

is the process of collecting various information relating to finance with the display of events as determined by the accounting system At present, in order to speed up and facilitate work, it has introduced a computer to work.

3.classifying Categorization process

In order to work on the account, classification, including item groups, is required. To be in the same category if the items or categories are the same, such as assets, liabilities, income and expenses, etc.

4.Summarizing Summing Up

This step will bring data from all previous steps to summarize the total results.

5.Reporting reporting process

When accounting results are summarized, the next step is to report the resulting data in various formats. But most often the results are reported in the form of tables.

6.Interpreting Interpretation process

Coming to the final step of the accounting process, the interpretation process is considered a very important step. because it represents information used for decision making The percentage will be analyzed. and the use of part in explaining

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