Accounting Cycles and the Structure of Financial Statements

Marina Guzik

Chapter Chapter 27 in CFO Techniques, 2011, pp 239-244 from Springer

Abstract: Abstract In Chapter 8, the concept of accounting (or transactional) cycles was used to separate quintessential tasks into functional groups with closely related procedures: financing/investing, expenditure, conversion, and revenue cycles. Generally speaking, this is the most sensible basis for building any type of accounting framework, from charts of accounts to budgets and analytical systems, because each cycle encompasses specific categories of transactions and account balances, reflecting a sector of related business events in a company’s books.

Keywords: Balance Sheet; Income Statement; Account Number; Accounting Framework; Current Liability (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1007/978-1-4302-3757-0_27

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