Preparation of Bank Reconciliation Account
Financial Accounting SSS1 Third Term
WEEK 1
Preparation of Bank Reconciliation Account
Performance Objectives
- Students should be able to:
- What is a Bank Reconciliation Account?
Content
Meaning of Land Reclamation
A Bank Reconciliation Account is a critical tool for managing cash balance. Reconciling is therefore the process of comparing the cash activity in accounting records to the transactions in a bank statement. This process helps an accountant to monitor all of the cash inflows and outflows in a bank account. The reconciliation process also helps accountants to identify fraud and other unauthorized cash transactions. As a result, it is critical for every accountant to reconcile their organization’s bank accounts within a few days of receiving their bank statements.
Further Explanation
A business enterprise will record money paid into the.... View More
Subscribe now to gain full access to this lesson note
Take Me ThereClick here to gain access to the full notes.
- Preparation of Bank Reconciliation Account
- Preparation of Bank Reconciliation when there is Bank Overdraft
- End of Year Adjustments in Profit and Loss Account
- Provision for bad Debt and Provision for Discount Allowed and Received
- Bad Debts Recovered
- Depletion of Fixed Assets
- Straight Line and Reducing Balance Methods of Depreciation
- Treatment of Depreciation in Profit and Loss Accounts and Balance Sheet
- Chapters 8
- Category SSS1
- Author ClassNotes Edu
For Schools & Teachers
For Schools and Teacher who want to subscribe to all of the subjects, a class or term at a discounted price.
Order Now
Create Your Bundle
Need many subjects? Waste no time. Select many subjects together in one subscription at a discounted price.
Create Bundle