For this assignment please identify the 10 steps in the accounting cycle and explain the purpose of each step in a short paragraph. As you are

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For this assignment please identify the 10 steps in the accounting cycle and explain the purpose of each step in a short paragraph. As you are writing please keep in mind that the question is asking for the PURPOSEof each step, not HOW it is completed! When thinking about the purpose of a step consider why we are completing it or what it tells us after it is completed.

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1. Analyzing and Classify Data about an Economic Event -The purpose of this step is to keep atrack of the transactions in order to analyze them. Events are analyzed to find the impact on the…

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