Accounting Cycle Explained | Accounting How To | How to Pass Accounting Class

Accounting Cycle Explained | Accounting How To | How to Pass Accounting Class is an accounting tutorial explaining the definition of the accounting cycle, the steps in the accounting cycle, and how accounting works. It is an accounting tutorial for accounting students, business owners, and bookkeepers to explain accounting basics for beginners. Featuring Terrance the T-Account Rex and accounting educator, Caroline Grimm, this accounting tutorial is part of a playlist series called How to Pass Accounting Class. ⏰Time Stamps 00:00 Introduction 00:42 Accounting Cycle Intro 01:25 Step 1 Identify and Analyze Transactions 02:12 Step 2 Record Journal Entries 04:22 Step 3 Post to General Ledger 05:09 Step 4 Prepare Unadjusted Trial Balance 06:09 Step 5 Make Adjusting Journal Entries 07:43 Step 6 Prepare Adjusted Trial Balance 08:14 Step 7 Prepare Financial Statements 08:41 Step 8 Make Closing Journal Entries 09:46 Step 9 Prepare Post Closing Trial Balance 10:30 Using Accounting Software 12:21 Accounting Cycle Recap 🎥 How to Pass Accounting Class Playlist https://www.youtube.com/playlist?list=PLPDomDzptO13nZXwb5-MfyN2POIrUUFyY