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    By Nancy Keong  Content - The purpose of the bank reconciliation statement. - The definition of the bank reconciliation statement. - Nature of the cash book and the bank statement. - Reasons for difference between the cash book and the bank statement.   - Drawing up a bank reconciliation statement . - Example - Exercise    ã Due to the timing difference  , omissions   and errors   made by the bank or the firm itself,the balances of the bank statement and the bank account in the cash book rarely agree. ã Bank reconciliation statements can be used to explain the reasons for the differences   and to identify errors   and omissions   in both documents,so that corrections can be made as soon as possible. 1.THE PURPOSE OF THE BANK RECONCILIATION STATEMENT Back to the content   ã The bank balances as shown in the cash book and the bank statement seldom agree.There are various reasons for this.A statement is used to reconcile the two balances. Back to the content  2.THE DEFINITION OF THE BANK RECONCILIATION STATEMENT

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Jul 23, 2017
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