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The process of using current resources to create new capital is
Adjusted Trial Balance
A record containing all accounts with their adjusted balances, utilized for the creation of financial statements.
Accounting Cycle
The series of steps followed by an accounting department to collect, process, and report financial transactions each period.
Closing Entries
Accounting journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent accounts, thus preparing the books for the next period.
Accounting Cycle
The process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation in the financial statements, followed by closure of accounts.
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