{"id":30,"date":"2015-03-18T22:02:42","date_gmt":"2015-03-18T22:02:42","guid":{"rendered":"https:\/\/courses.candelalearning.com\/finacct2x10xmaster\/?post_type=chapter&#038;p=30"},"modified":"2015-07-17T13:31:44","modified_gmt":"2015-07-17T13:31:44","slug":"types-of-accounting-activities-the-accounting-cycl","status":"web-only","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/chapter\/types-of-accounting-activities-the-accounting-cycl\/","title":{"raw":"The Accounting Cycle","rendered":"The Accounting Cycle"},"content":{"raw":"The following video briefly explains key components of the accounting cycle.\r\n\r\nhttps:\/\/www.youtube.com\/watch?v=ckVVKkUXR7E\r\n\r\nIn the next 2 units we will learn the components of the accounting cycle.\u00a0 In the video, it discussed:\r\n<ul>\r\n\t<li>Capture activity of a business:\u00a0 we will do this with a journal entry<\/li>\r\n\t<li>Organize into groups and edit:\u00a0 this will be accomplished by organizing the information into account and posting journal entries<\/li>\r\n\t<li>Publish the story:\u00a0 in accounting, our story is the financial statements<\/li>\r\n\t<li>Archive: this will be the closing process to prepare the books for the next period<\/li>\r\n<\/ul>\r\nTo give you a picture and quick reference for all you will learn in the accounting cycle.\u00a0 We begin on the right hand side and move around the cycle.\u00a0 Click <a href=\"https:\/\/courses.candelalearning.com\/finaccountingvccsx2\/wp-content\/uploads\/sites\/942\/2015\/07\/Accrual-World.pdf\">Accrual World<\/a>\u00a0for a printable copy.\r\n<div id=\"watch-uploader-info\"><\/div>\r\n<div><\/div>\r\n<div><a href=\"https:\/\/courses.candelalearning.com\/finaccountingvccsx2\/wp-content\/uploads\/sites\/942\/2015\/07\/accrual-world.jpg\"><img class=\"aligncenter wp-image-1501 size-full\" src=\"https:\/\/courses.candelalearning.com\/finaccountingvccsx2\/wp-content\/uploads\/sites\/942\/2015\/07\/accrual-world.jpg\" alt=\"accrual world\" width=\"931\" height=\"658\" \/><\/a><\/div>\r\n&nbsp;","rendered":"<p>The following video briefly explains key components of the accounting cycle.<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"What is the Accounting Cycle? (Conceptual)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/ckVVKkUXR7E?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>In the next 2 units we will learn the components of the accounting cycle.\u00a0 In the video, it discussed:<\/p>\n<ul>\n<li>Capture activity of a business:\u00a0 we will do this with a journal entry<\/li>\n<li>Organize into groups and edit:\u00a0 this will be accomplished by organizing the information into account and posting journal entries<\/li>\n<li>Publish the story:\u00a0 in accounting, our story is the financial statements<\/li>\n<li>Archive: this will be the closing process to prepare the books for the next period<\/li>\n<\/ul>\n<p>To give you a picture and quick reference for all you will learn in the accounting cycle.\u00a0 We begin on the right hand side and move around the cycle.\u00a0 Click <a href=\"https:\/\/courses.candelalearning.com\/finaccountingvccsx2\/wp-content\/uploads\/sites\/942\/2015\/07\/Accrual-World.pdf\">Accrual World<\/a>\u00a0for a printable copy.<\/p>\n<div id=\"watch-uploader-info\"><\/div>\n<div><\/div>\n<div><a href=\"https:\/\/courses.candelalearning.com\/finaccountingvccsx2\/wp-content\/uploads\/sites\/942\/2015\/07\/accrual-world.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1501 size-full\" src=\"https:\/\/courses.candelalearning.com\/finaccountingvccsx2\/wp-content\/uploads\/sites\/942\/2015\/07\/accrual-world.jpg\" alt=\"accrual world\" width=\"931\" height=\"658\" srcset=\"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-content\/uploads\/sites\/3534\/2015\/07\/accrual-world.jpg 931w, https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-content\/uploads\/sites\/3534\/2015\/07\/accrual-world-300x212.jpg 300w, https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-content\/uploads\/sites\/3534\/2015\/07\/accrual-world-65x46.jpg 65w, https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-content\/uploads\/sites\/3534\/2015\/07\/accrual-world-225x159.jpg 225w, https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-content\/uploads\/sites\/3534\/2015\/07\/accrual-world-350x247.jpg 350w\" sizes=\"auto, (max-width: 931px) 100vw, 931px\" \/><\/a><\/div>\n<p>&nbsp;<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-30\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Accrual World. <strong>Authored by<\/strong>: Debra Porter. <strong>Provided by<\/strong>: Tidewater Community College. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>What is the Accounting Cycle?. <strong>Authored by<\/strong>: Accounting WITT. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/ckVVKkUXR7E\">https:\/\/youtu.be\/ckVVKkUXR7E<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":276,"menu_order":2,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Accrual World\",\"author\":\"Debra Porter\",\"organization\":\"Tidewater Community College\",\"url\":\"\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"\"},{\"type\":\"copyrighted_video\",\"description\":\"What is the Accounting Cycle?\",\"author\":\"Accounting WITT\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/ckVVKkUXR7E\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-30","chapter","type-chapter","status-web-only","hentry"],"part":56,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/30","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/wp\/v2\/users\/276"}],"version-history":[{"count":15,"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/30\/revisions"}],"predecessor-version":[{"id":1690,"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/30\/revisions\/1690"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/pressbooks\/v2\/parts\/56"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/30\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/wp\/v2\/media?parent=30"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/pressbooks\/v2\/chapter-type?post=30"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/wp\/v2\/contributor?post=30"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/tcc-financialaccounting\/wp-json\/wp\/v2\/license?post=30"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}