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Statement prepared by the Business entity, 
Reconciling/Matching the bank balance as per 
the cash book(Bank Column) & the Pass 
book.
find out the differences between the balances & 
nullify them 
BRS is prepared by the business entity
Page 3


Statement prepared by the Business entity, 
Reconciling/Matching the bank balance as per 
the cash book(Bank Column) & the Pass 
book.
find out the differences between the balances & 
nullify them 
BRS is prepared by the business entity
The Cash Book is prepared by the business 
entity
Pass book/Bank Statement is prepared by the 
bank to have a record of the customer’s 
banking transactions. 
Page 4


Statement prepared by the Business entity, 
Reconciling/Matching the bank balance as per 
the cash book(Bank Column) & the Pass 
book.
find out the differences between the balances & 
nullify them 
BRS is prepared by the business entity
The Cash Book is prepared by the business 
entity
Pass book/Bank Statement is prepared by the 
bank to have a record of the customer’s 
banking transactions. 
Page 5


Statement prepared by the Business entity, 
Reconciling/Matching the bank balance as per 
the cash book(Bank Column) & the Pass 
book.
find out the differences between the balances & 
nullify them 
BRS is prepared by the business entity
The Cash Book is prepared by the business 
entity
Pass book/Bank Statement is prepared by the 
bank to have a record of the customer’s 
banking transactions. 
Bring out errors in Cash book/Pass book
Detection of Undue delay by the bank
Discourages any manipulation by Accountant
Finding out actual position of bank balance
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FAQs on PPT - Bank Reconciliation Statement - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year

1. What is a bank reconciliation statement?
Ans. A bank reconciliation statement is a financial document that compares the bank statement balance with the company's internal records of the bank account. It helps identify any discrepancies, such as outstanding checks or deposits in transit, and ensures the accuracy of the financial records.
2. Why is a bank reconciliation statement important?
Ans. A bank reconciliation statement is important as it helps businesses identify any discrepancies between their internal records and the bank statement. It ensures the accuracy of financial records, detects errors or fraudulent activities, and provides a clear picture of the actual cash position of the company.
3. How often should bank reconciliation statements be performed?
Ans. Bank reconciliation statements should ideally be performed on a monthly basis. This ensures that any discrepancies or errors are identified and resolved promptly, allowing for accurate financial reporting and decision-making.
4. What are the common causes of discrepancies in bank reconciliation statements?
Ans. Common causes of discrepancies in bank reconciliation statements include outstanding checks, deposits in transit, bank errors, errors in recording transactions, and fraudulent activities such as unauthorized withdrawals or forged checks.
5. How can discrepancies in bank reconciliation statements be resolved?
Ans. Discrepancies in bank reconciliation statements can be resolved by thoroughly reviewing the bank statement and internal records, comparing transaction details, and identifying any errors or missing transactions. Communication with the bank is also important to rectify any bank errors or unauthorized transactions.
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