The topics that were most compelling included Accounting cycle, trial balances, adjusting entries, and merchandise inventory. An accounting cycle can be regarded as the collective process of recording, analyzing, and recognizing the events of accounting of a firm. The steps’ series starts with occurrence of a transaction and finishes with insertion in the financial statements. A trial balance can be regarded as a worksheet of bookkeeping where there is compilation of all ledger balances into the total of account column of credit and debit which are equal. A trial balance is prepared by a firm periodically at every reporting period end usually.