Commerce Exam > Commerce Notes > Accountancy Class 11 > PPT : Bank Reconciliation Statement
PPT : Bank Reconciliation Statement | Accountancy Class 11 - Commerce PDF Download
| Download, print and study this document offline |
Please wait while the PDF view is loading
Page 1 Bank Reconciliation Statement CPT Section A- Fundamentals of Accounting Chapter 3 CA. Pankaj Goel Page 2 Bank Reconciliation Statement CPT Section A- Fundamentals of Accounting Chapter 3 CA. Pankaj Goel Meaning 7/12/2013 WWW.CAPANKAJG OEL.COM 2 Page 3 Bank Reconciliation Statement CPT Section A- Fundamentals of Accounting Chapter 3 CA. Pankaj Goel Meaning 7/12/2013 WWW.CAPANKAJG OEL.COM 2 7/12/2013 WWW.CAPANKAJGOEL.CO M 3 Page 4 Bank Reconciliation Statement CPT Section A- Fundamentals of Accounting Chapter 3 CA. Pankaj Goel Meaning 7/12/2013 WWW.CAPANKAJG OEL.COM 2 7/12/2013 WWW.CAPANKAJGOEL.CO M 3 Bank Reconciliation Statement Strictly speaking there should be no difference in Cash Book(Bank Column) and Pass book(BANK STATEMENT). . However on a particular date it is possible that balances on both the books do not tally. After finding the reasons for non agreement of the bank balances efforts are made to reconcile. This statement is prepared in the form of BRS. Page 5 Bank Reconciliation Statement CPT Section A- Fundamentals of Accounting Chapter 3 CA. Pankaj Goel Meaning 7/12/2013 WWW.CAPANKAJG OEL.COM 2 7/12/2013 WWW.CAPANKAJGOEL.CO M 3 Bank Reconciliation Statement Strictly speaking there should be no difference in Cash Book(Bank Column) and Pass book(BANK STATEMENT). . However on a particular date it is possible that balances on both the books do not tally. After finding the reasons for non agreement of the bank balances efforts are made to reconcile. This statement is prepared in the form of BRS. Importance of BRS Errors which may have been committed Undue delay in clearance of cheques Discourages staff from embezzlementRead More
|
82 videos|161 docs|42 tests
|
FAQs on PPT : Bank Reconciliation Statement - Accountancy Class 11 - Commerce
| 1. What is a bank reconciliation statement? |  |
Ans. A bank reconciliation statement is a document that compares the bank statement balance with the balance shown in a company's accounting records. It helps identify and explain any differences between the two balances, such as outstanding checks, deposits in transit, or bank errors.
| 2. Why is bank reconciliation important? | |
Ans. Bank reconciliation is important because it ensures the accuracy and completeness of a company's financial records. It helps identify errors, discrepancies, and fraudulent activities, allowing businesses to take necessary actions promptly. Additionally, bank reconciliation helps in detecting any bank charges or fees that may have been overlooked.
| 3. How often should bank reconciliation be performed? | |
Ans. Bank reconciliation should ideally be performed on a monthly basis. This ensures that any discrepancies between the bank statement and the company's records are promptly identified and resolved. Regular reconciliation also helps in tracking cash flow, monitoring outstanding checks, and detecting any unauthorized transactions.
| 4. What are some common reasons for differences between the bank statement and the company's records? | |
Ans. Some common reasons for differences between the bank statement and the company's records include outstanding checks that have not been cleared by the bank, deposits in transit that have not yet been credited by the bank, bank errors, errors made by the company in recording transactions, and unauthorized transactions or fraud.
| 5. How can discrepancies between the bank statement and the company's records be resolved? | |
Ans. Discrepancies between the bank statement and the company's records can be resolved by thoroughly investigating the differences. This may involve contacting the bank to clarify any unclear transactions, reviewing outstanding checks and deposits in transit, correcting any errors made by the company, and adjusting the accounting records accordingly. In case of unauthorized transactions or fraud, the appropriate authorities and the bank should be notified promptly.
Related Exams
About this Document
|
3.5K Views |
|
4.73/5 Rating |
|
Nov 21, 2024 Last updated |
Document Description: PPT : Bank Reconciliation Statement for Commerce 2024 is part of Accountancy Class 11 preparation.
The notes and questions for PPT : Bank Reconciliation Statement have been prepared according to the Commerce exam syllabus. Information about PPT : Bank Reconciliation Statement covers topics
like and PPT : Bank Reconciliation Statement Example, for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for PPT : Bank Reconciliation Statement.
Introduction of PPT : Bank Reconciliation Statement in English is available as part of our Accountancy Class 11
for Commerce & PPT : Bank Reconciliation Statement in Hindi for Accountancy Class 11 course.
Download more important topics related with notes, lectures and mock test series for Commerce
Exam by signing up for free. Commerce: PPT : Bank Reconciliation Statement | Accountancy Class 11 - Commerce
Description
Full syllabus notes, lecture & questions for PPT : Bank Reconciliation Statement | Accountancy Class 11 - Commerce - Commerce | Plus excerises question with solution to help you revise complete syllabus for Accountancy Class 11 | Best notes, free PDF download
Information about PPT : Bank Reconciliation Statement
In this doc you can find the meaning of PPT : Bank Reconciliation Statement defined & explained in the simplest way possible. Besides explaining types of
PPT : Bank Reconciliation Statement theory, EduRev gives you an ample number of questions to practice PPT : Bank Reconciliation Statement tests, examples and also practice Commerce
tests
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
video lectures
,PPT : Bank Reconciliation Statement | Accountancy Class 11 - Commerce
,Sample Paper
,Summary
,study material
,PPT : Bank Reconciliation Statement | Accountancy Class 11 - Commerce
,Important questions
,ppt
,mock tests for examination
,Previous Year Questions with Solutions
,Free
,Viva Questions
,PPT : Bank Reconciliation Statement | Accountancy Class 11 - Commerce
,Semester Notes
,past year papers
,practice quizzes
,Extra Questions
,MCQs
,Exam
,shortcuts and tricks
,Objective type Questions
;
Additional Information about PPT : Bank Reconciliation Statement for Commerce Preparation
PPT : Bank Reconciliation Statement Free PDF Download
The PPT : Bank Reconciliation Statement is an invaluable resource that delves deep into the core of the Commerce exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the PPT : Bank Reconciliation Statement now and kickstart your journey towards success in the Commerce exam.
Importance of PPT : Bank Reconciliation Statement
The importance of PPT : Bank Reconciliation Statement cannot be overstated, especially for Commerce aspirants.
This document holds the key to success in the Commerce exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
PPT : Bank Reconciliation Statement Notes
PPT : Bank Reconciliation Statement Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to PPT : Bank Reconciliation Statement.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, PPT : Bank Reconciliation Statement Notes on EduRev are your ultimate resource for success.
PPT : Bank Reconciliation Statement Commerce Questions
The "PPT : Bank Reconciliation Statement Commerce Questions" guide is a valuable resource for all aspiring students preparing for the
Commerce exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study PPT : Bank Reconciliation Statement on the App
Students of Commerce can study PPT : Bank Reconciliation Statement alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the PPT : Bank Reconciliation Statement,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of PPT : Bank Reconciliation Statement is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup