Beginning of Essay
This essay explore the definition of the term “ accounting”, its processes and procedures. I will examine the five step of the method in detail, and will compare and contrast this method to that of single entry accounting. The analysis concludes that with a d ....

Middle of Essay
.... other financial information. In this essay I will describe the method, identify the advantages and why this method has survived so long. The accounting system provides a basic framework for the analysis of business activities. I am going to go further detail about the accounting procedures used to account for the operations of a business during a specific period. The transaction is analysed and processed in five steps. (See Appendix 1) These steps in the accounting cycle enable the accountant to combine and summarise the net results of many business activities into relatively concise financial reports. Step one, The transactions are analysed ....