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Ivanshal [37]
3 years ago
15

You've just created and e-mailed the financial statements to your boss? What is the next step you should do in accounting cycle?

Business
1 answer:
KonstantinChe [14]3 years ago
5 0
<span>You've just created and e-mailed the financial statements to your boss. What is the next step you should do in accounting cycle? Close out the revenue and expense accounts. After the financial statements are prepared all nominal accounts which include the revenue and expenses, should be closed out to zero. This allows for the accounts to be at an even start for the next accounting cycle. 

</span>
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