Assistant Statistical Officer Paper II · 4 Financial Accounting · APPSC Paper I
4.3 Bank reconciliation and trial balance notes
2 notes, in reading order.
- 4.3.1Bank reconciliation statement: causes of difference and preparation
A bank reconciliation statement (BRS) is a statement the account holder prepares on a given date to explain, item by item, why the bank balance in the cash book differs from the balance in the pass book (bank statement), and to bring one to the other.
Advanced · 10 min · Full course - 4.3.2Trial balance: methods, preparation and limitations
A trial balance is a statement of the debit and credit balances (or totals) of all ledger accounts on a given date; because every transaction has an equal debit and credit, its two sides should agree, which checks the arithmetical accuracy of the books but does not prove they are free of error.
Advanced · 9 min · Full course
Practise Bank reconciliation and trial balance. Questions with answers explained, from the same topics.
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