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Accounting Cycle Simple

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Uploaded by on Aug 31, 2010

This is a great video to get a very simple view of the accounting cycle. It runs for less than 5 minutes. You will also find that it is a good video to watch a few times because it can help you measure how your understanding of the accounting cycle is improving.
It takes two transactions and works them through the accounting cycle -- from recording the transaction in a journal, posting to the ledger, summarizing in the trial balance, doing adjustments, producing financial statements and doing the closing entries so that the accounts are ready to start the next period.

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Education

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Standard YouTube License

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  • Great explanation - nice and simple

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