What is the final stage of the accounting cycle?

Question

issuing the financial statement

adjusting entries

posting to the general ledger

closing statements out

Answer 1

The final stage of the accounting cycle is issuing the financial statements. This stage follows the preparation of closing entries and the posting of those entries to the general ledger. After completing all adjustments and closings, the financial statements are prepared and issued, providing a summary of the company's financial performance and position for the accounting period.