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Analyzing the business documents or transactions

Journalizing
Posting
Preparing the unadjusted trial balance
Preparing the adjusting entries
Preparing the financial statements
Preparing the closing entries
Preparing a postclosing trial balance
Preparing the reversing entries

the accounting cycle ensures that the data presented in the financial statements
is well organized and accurate in order for the shareholders and management to
make relevant investments and management decisions, respectively.