Remove Books Remove Corporate Finance Remove Financial Transaction
article thumbnail

What is the Accounting Cycle?

Peak Frameworks

These principles ensure consistency, accuracy, and reliability in the world of finance. Double-Entry Accounting System Every financial transaction has two sides - a debit and a credit. Here's the breakdown: Identifying and Analyzing Financial Transactions. Preparing Financial Statements. Closing the Books.

article thumbnail

Statement of Cash Flow

Wall Street Mojo

A CFS records a firm’s all cash-based transactions during a particular accounting period Accounting Period Accounting Period refers to the period in which all financial transactions are recorded and financial statements are prepared. Since cash provides liquidity, it is decisive for the survival of a business.