Title: Explain the effect of the use of technology on the steps of the accounting cycle.
Course: Accounting (12104-I) > Section: Understanding the Accounting Cycle for a Merchandising Business

Explanation should include how technology is used to facilitate completion of each of the following steps:

1. Analyze source documents.
2. Analyze each transaction.
3. Journalize each transaction in the appropriate journal.
4. Post transactions to the general and subsidiary ledgers.
5. Prepare schedules.
6. Prepare a worksheet.
7. Journalize and post adjusting and closing entries.
8. Prepare a post-closing trial balance.
9. Prepare financial statements.