Accounting Cycle Vs Operating Cycle
Learn accounting cycle vs operating cycle fast and easy! The accounting cycle is a series of steps in recording economic events affecting the financial affairs of a firm while the operating cycle is the process and time needed for cash to turn back to cash.
-TIMESTAMPS-
00:00 Introduction
00:14 What is accounting cycle?
00:30 Steps in accounting cycle
01:22 Operating cycle
02:39 Accounting cycle vs operating cycle
03:09 Accounting cycle further explanation
03:51 Accounting equation
04:55 Chart of account
05:30 Rule of debit and credit
05:49 Accounting standards (GAAP)
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