The sequence of accounting procedures used to record， classify， and summarize accounting information is often termed the accounting cycle. The accounting cycle begins with the initial recording of business transactions and concludes with the preparation of formal financial statements summarizing the effects of these transactions upon the assets， liabilities， and owners‘ equity of the business. The term “cycle” indicates that these procedures must be repeated continuously to enable the business to prepare new， up-to-date financial statements at reasonable intervals. The accounting cycle consists of some specific steps as follows： 1. Analyze transactions and business documents 2. Journalize transactions 3. Post journal entries to accounts 4. Determine account balances and prepare a trial balance 5. Prepare a worksheet 6. Prepare financial statements 7. Journalize and post adjusting entries 8. Make closing entries 9. Prepare a post-closing trial balance 10. Make reversing entries Notice that step 1 to 3 occur continuously during the accounting period， step 4 to 9 occur only at the end of the accounting period， and step 10 occurs only at the start of the next accounting period.
會(huì)計(jì)記錄、分類(lèi)和總結(jié)會(huì)計(jì)記錄的過(guò)程經(jīng)常被稱(chēng)作會(huì)計(jì)循環(huán)。會(huì)計(jì)信息起始于商業(yè)交易的初始記錄，包括正式的財(cái)務(wù)報(bào)表的編制（合計(jì)資產(chǎn)、負(fù)債和所有者權(quán)益）。這個(gè)循環(huán)意味著這些程序必須持續(xù)重復(fù)，在合理的會(huì)計(jì)期間準(zhǔn)備新的、更新的財(cái)務(wù)報(bào)表。會(huì)計(jì)循環(huán)包括下面一些特殊的步驟： 1、分析交易過(guò)程和商業(yè)文書(shū) 2、記錄交易日志（制作憑證日記帳） 3、將憑證記入各個(gè)帳戶 4、確認(rèn)會(huì)計(jì)報(bào)表平衡，編制試算平衡表 5、編制工作底稿 6、編制財(cái)務(wù)報(bào)表 7、編制調(diào)整分錄 8、結(jié)帳 9、編制結(jié)帳試算平衡表 10、制作回轉(zhuǎn)分錄注意上述步驟中的第1步至第3步在會(huì)計(jì)期間發(fā)生，步驟4至9僅在會(huì)計(jì)期末發(fā)生，步驟10僅在下一個(gè)會(huì)計(jì)期間開(kāi)始的時(shí)候發(fā)生。
Step 1.Analyze Transactions and Business Documents The first step in the accounting cycle is to analyze transactions and business documents—the sale invoices， check stubs， and other records that are evidence of those transactions. Business documents confirm that a transaction has occurred and establish the amounts to be recorded. The accountant must determine the most appropriate way to record each transaction and to recognize its economic impact on the accounting equation. This is the key step in the accounting cycle. Step 2. Journalize Transactions The second step in the accounting cycle is to record the results of transactions in a journal. Known as “book” books of original entry“， journals provide a chronological record of all entity transactions. They show the dates of the transactions， the amounts involved， and particular accounts affected by the transactions. Usually， an explanation of the transaction is also included.Companies may use General Journals or special journals to record all transactions. A specific format is used in journalizing （recording） transactions in a General Journal. The debit entry is listed first； the credit entry is listed second. Normally， the date and a brief explanation of the transaction are considered essentially. This format can be called journal entry.
會(huì)計(jì)記錄、分類(lèi)和總結(jié)會(huì)計(jì)記錄的過(guò)程經(jīng)常被稱(chēng)作會(huì)計(jì)循環(huán)。會(huì)計(jì)信息起始于商業(yè)交易的初始記錄，包括正式的財(cái)務(wù)報(bào)表的編制（合計(jì)資產(chǎn)、負(fù)債和所有者權(quán)益）。這個(gè)循環(huán)意味著這些程序必須持續(xù)重復(fù)，在合理的會(huì)計(jì)期間準(zhǔn)備新的、更新的財(cái)務(wù)報(bào)表。會(huì)計(jì)循環(huán)包括下面一些特殊的步驟： 1、分析交易過(guò)程和商業(yè)文書(shū) 2、記錄交易日志（制作憑證日記帳） 3、將憑證記入各個(gè)帳戶 4、確認(rèn)會(huì)計(jì)報(bào)表平衡，編制試算平衡表 5、編制工作底稿 6、編制財(cái)務(wù)報(bào)表 7、編制調(diào)整分錄 8、結(jié)帳 9、編制結(jié)帳試算平衡表 10、制作回轉(zhuǎn)分錄注意上述步驟中的第1步至第3步在會(huì)計(jì)期間發(fā)生，步驟4至9僅在會(huì)計(jì)期末發(fā)生，步驟10僅在下一個(gè)會(huì)計(jì)期間開(kāi)始的時(shí)候發(fā)生。
Step 1.Analyze Transactions and Business Documents The first step in the accounting cycle is to analyze transactions and business documents—the sale invoices， check stubs， and other records that are evidence of those transactions. Business documents confirm that a transaction has occurred and establish the amounts to be recorded. The accountant must determine the most appropriate way to record each transaction and to recognize its economic impact on the accounting equation. This is the key step in the accounting cycle. Step 2. Journalize Transactions The second step in the accounting cycle is to record the results of transactions in a journal. Known as “book” books of original entry“， journals provide a chronological record of all entity transactions. They show the dates of the transactions， the amounts involved， and particular accounts affected by the transactions. Usually， an explanation of the transaction is also included.Companies may use General Journals or special journals to record all transactions. A specific format is used in journalizing （recording） transactions in a General Journal. The debit entry is listed first； the credit entry is listed second. Normally， the date and a brief explanation of the transaction are considered essentially. This format can be called journal entry.