By Steve Smith
The information presented here is true and accurate as of the date of publication. DeVry’s programmatic offerings and their accreditations are subject to change. Please refer to the current academic catalog for details.
February 21, 2024
8 min read
Bookkeepers and accountants in businesses of all sizes use established processes to keep track of their organizations’ revenue and expenses. If you’re planning to pursue a career in accounting or finance, you may already be familiar with some of these processes and the accounting terms that go with them. In this discussion, we will examine a process called the accounting cycle. We’ll learn the definition and purpose of the accounting cycle and itemize 8 accounting cycle steps that bookkeepers and accountants should know.
1Credits and degrees earned from this institution do not automatically qualify the holder to participate in professional licensing exams to practice certain professions. Persons interested in practicing a regulated profession must contact the appropriate state regulatory agency for their field of interest. For instance, typically 150 credit hours or education are required to meet state regulatory agency education requirements for CPA licensure. Coursework may qualify for credit towards the State Board of Accountancy requirements. However, it is the student’s responsibility to contact the state board of accountancy for the jurisdiction in which they are applying to determine whether they have completed the appropriate credit hours and coursework to qualify to take the CPA exam. Employees of DeVry University and its Keller Graduate School of Management are not in a position to determine an individual’s eligibility to take the CPA exam or satisfy licensing.
2Accelerated schedule assumes continuous enrollment in an average 10 credit hours per semester, 3 semesters per 12 month period, with no breaks, for a total of 7 semesters. Normal schedule assumes continuous enrollment in an average of 6 credit hours per semester, 3 semesters per 12 month period, with no breaks, for a total of 4 semesters.
