An accounting cycle is defined as a process of identifying, collecting and analyzing financial transactions. The process of accounting cycle ends with the analysis of financial statements which includes income statement, balance sheet and cash flow. The process of accounting cycle is repeated during each reporting period.
The entries are first posted to a journal and then posted to respective accounts. With the advent of accounting software, a lot of posting has been reduced and the double entries are managed by the software. The accuracy of the software reduces efforts of an accountant.
The various steps of an accounting cycle ...
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Virtual Currency
Introduction 3
Types Of Virtual Currency 4
Evolution of Virtual Currency 6
Crypto-Currency 7
BitCoin 7
Virtual Currency Ecosystem 11
Virtual Currency Exchange 11
Administrator 11
User 11
Miner 12
Virtual currency wallet 12
Benefits of Virtual Currency 13
Global cash transfer 13
Cost Saving 14
Universal Currency 14
Conclusions 14
Bibliography 16
Introduction
Virtual and digital currency are often confused and used interchangeably, when in reality virtual currency is a specialized kind of digital currency but not all ...
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