The accounting cycle prompts bookkeepers to record and process any accounting events a company incurs during a period. These events range from when a transaction occurs to the final representation of ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

A standard of efficient business accounting is maintaining detailed records on accounts receivable. One part of the accounting process is the revenue cycle, an important group of business activities ...