Is a series of steps whose end purpose is to provide useful information to decision makers. These steps in order are: 1. Analyze the business transactions from source documents. 2. Record the transactions by entering them in the general ledger. 3. Post the journal entries to the ledger, and prepare a trial balance. 4. Adjust the accounts, and prepare an adjusted trial balance. 5. Prepare financial statements. 6. Close the accounts, and prepare a post-closing trial balance.
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