An unadjusted trial balance is prepared is the first step in the accounting cycle.
What is accounting cycle?
The accounting cycle is the process of finding, assessing, and recording a company's accounting events. It is a standard eight-step procedure that starts with the occurrence of a transaction and ends with its inclusion in the financial statements. The accounting cycle is a systematic set of procedures designed to maintain the accuracy and consistency of financial accounts. Accounting cycle uniformity and computerised accounting systems have helped to eliminate arithmetic errors. Most accounting software nowadays fully automates the accounting cycle, resulting in reduced human work and errors associated with manual processing.
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