--%>
Assignment Help - homework help

Bank reconciliation statement

Explain the term bank reconciliation statement?

E

Expert

Verified

In banking scenario the account and mirror account containing the opposite sign. The procedure matching real account and mirror accounting is termed as Reconciliation. This reconciliation to that of a bank then it is termed as Bank's Reconciliation. Therefore, the statement is termed as Bank Reconciliation Statement.

   Related Questions in Managerial Accounting

  • Q : Define Opportunity Cost Opportunity

    Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.

    		•
  • Q : Selecting strategic options and

    Write a short note on selecting strategic options and formulating the plans?

    		•
  • Q : Threats to business comprises Write a

    Write a brief note on the things which Threats to business comprises?

    		•
  • Q : Why most of the larger businesses are

    Why most of the larger businesses are not managed as the single unit through one manager?

    		•
  • Q : Actual costing A function of measuring

    A function of measuring and assigning production costs to determine the unit cost. Actual revenue assigns the real cost of materials, labor, and overhead to ma

    		•
  • Q : Define Job Costing Job Costing : It is

    Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs.

    Q : Explain Cost Assignment Cost Assignment

    Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three

    		•
  • Q : Define Fixed Cost Fixed Cost: The cost

    Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan

    		•
  • Q : Allocating resources in decision making

    Write down a short note on the Allocating resources in decision making process?

    		•
  • Q : Elements of Partnership Three main

    Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr

    		•