--%>
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 : Capital gain The increase in value that

    The increase in value that the owner of a capital asset receives when the asset is sold. The owner pays tax on that gain or increases, at a lower rate if the assets that are sold are capital asset, such as factory buildings, rather than assets that are sold in the nor

    		•
  • Q : Liability of partners Liability of

    Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).

  • Q : Operation of business

    What are the main reasons that the operation of business environment has become ever more turbulent and competitive?

    		•
  • Q : Major tasks of board that runs the

    Write down a short note on the major tasks of board that runs the organization?

    		•
  • 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 : Why you want to be an accountant Why

    Why you want to be an accountant? Normal 0 false

  • Q : Characteristics which accounting

    What are the key qualities or characteristics which accounting information should possess?

    		•
  • Q : Allocating resources in decision making

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

    		•
  • Q : Tax form a deadweight loss Why does a

    Why does a tax form a deadweight loss? A tax forms deadweight loss by artificially increasing price above the free market level, therefore reducing the equilibrium quantity. This reduction in demand decreases consumer as well as producer surplu

    		•
  • Q : Working areas of the Finance department

    Write a short note on the main working areas of the Finance department?

    		•