Category Archives: Accounting Simplified

The accounting process cycle has many processes and for most beginners in the accounting career path, this road can be very confusing. Traditionally, the accounting department is organized into various departments or sections such as Accounts Payable, Accounts Receivable, General Ledger, Payroll etc. Therefore, it is not uncommon to find employees who for most of their career have only worked in some departments of the entire accounting cycle process. The accounting staff who are not familiar with the entire accounting cycle process have neither been cross-trained nor given an opportunity to observe and understand the complete accounting process cycle. The purpose of this article is to explain the life cycle of the accounting process in a clear and concise manner to assist the accounting staff in the performance of their daily functions and ultimately the preparation of financial statements

How to Pass Your Firm Peer Review.

Posted on October 20, 2023 by esol4489

If your firm is unable to pass firm’s peer review, this may risk your firm to a possible termination from the peer review program. If your firm is terminated from the peer review program, the firm cannot continue to offer … Continue reading →

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Posted in Accounting for Non Profits, Accounting Simplified, Auditing Simplified | Leave a comment

Business Structure: Structuring for Success

Posted on December 14, 2012 by esol4489

 Selecting the right structure for your business can be complicated.There is a lot to consider in starting your own business: Developing a business plan, obtaining sufficient funding, marketing and host of other concerns. Also, critical is determining the organizational structure … Continue reading →

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The Accounting Cycle Process Flow Chart

Posted on July 23, 2011 by esol4489

This is a follow up of my blog posting of July 2 titled Detailed Description of the Accounting Process Cycle. This is a continuation of this blog posting. Below is the Life Cycle of the Accounting Process summarized in a … Continue reading →

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Posted in Accounting Simplified | 21 Comments

Detailed Description of the Accounting Process Cycle

Posted on July 2, 2011 by esol4489

Our topic of the Life Cycle of the Accounting Process continues. This time I add more details about the 10 steps of the entire accounting life cycle process. The detailed description of each of the accounting process cycle follows here below: 1.  Gathering of information About External … Continue reading →

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Posted in Accounting Simplified | 30 Comments

The Life Cycle of the Accounting Process

Posted on July 2, 2011 by esol4489

Introduction The accounting process cycle has many processes and for most beginners in the accounting career path, this road can be very confusing.  Traditionally, the accounting department is organized into various departments or sections such as Accounts Payable, Accounts Receivable, … Continue reading →

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Posted in Accounting Simplified | 20 Comments