Most accounting cycles are similar, which means that they usually contain the same steps. However, the items and people involved in each of the cycles vary. For example, a typical accounting cycle consists of identifying and recording transaction and other events, journalizing, posting, trial balance, adjusting entries, adjusting entries for accruals, adjusted trial balance, closing, post-closing trial balance, and reversing entries (Kieso et al, 2003). At the end of the cycle, one produces the relevant reports …
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showed last 75 words of 719 total
…cycle of a company our size. Companies that are larger than my company may have separate their data entry department separated into smaller sections such as, accounts payable department, accounts receivable department, and order entry department. This is done to spread out the workload and to establish separation of duties. However, the end function is data entry. References Donald E. Kieso, Jerry J. Weygandt, & Terry D. Warfield (2003). Intermediate accounting (11th ed.). New York