What is Accounting cycle? | Key phase, Significance of Accounting cycle

In this video, you will learn " What is the Accounting cycle?"
The accounting cycle comprises a sequence of well-defined and interconnected steps that accountants and financial professionals follow to record, process, and report financial transactions.
Topics I have discussed are:
1. Understanding / Accounting cycle definition.
2. Key Phases in the Accounting Cycle/step of the accounting cycle.
3. Significance of the Accounting Cycle.
4. Conclusion.
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#accounting #accountingcycle
0:00 Introduction
1:17 Animiz 1. Transaction Identification
1:34 Transaction Recording
2:00 Animiz 3. Posting to the General Ledger
2:40 Adjusting Entries
3:03 Financial Statements
3:22 Closing Entries
3:42 Post-Closing Trial Balance
4:21 Consistency
4:32 Transparency
4:43 Informed Decision-Making

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