--%>
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 : How do tax influence the cost of debt

    Normal 0 false false

  • Q : VAT entry How to make a VAT entry in

    How to make a VAT entry in books including set off?

  • Q : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

    		•
  • Q : Define Investor Relations Investor

    Investor Relations: A department, exist in most medium to big public companies, which gives investors with a precise account of the company's affairs. This aids investors to make informed sell or buy decisions. Inv

    		•
  • Q : Capital account on credit and debit side

    List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c

    		•
  • Q : What is Uncontrollable Cost What is

    What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.

    		•
  • Q : Partners-firm and firms name What do

    What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P

    		•
  • Q : Influence of lack of partnership deed

    Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p

    		•
  • Q : What do you mean by the term Mission

    What do you mean by the term Mission statements? Briefly describe it.

    		•
  • Q : Cash coverage of growth A financial

    A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities

    		•