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Is bank statements considered as bank reconciliation statement?
Wiki User
∙ 11y ago
All of the following requirements about internal controls were enacted under the Sarbanes- Oxley Act except;
independent outside auditors must attest to the level of internal control.
independent outside auditors must eliminate redundant internal controls.
companies must develop sound internal controls over financial reporting.
companies must continually assess the functionality of internal controls.
Wiki User
∙ 11y ago
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What is bank reconciliation statement?
Bank Reconciliation Statement
How do you treat stale cheques in bank reconciliation statements?
Bank reconciliation statement is just prepare to she those transaction which take place between the client and the services.
What are the advantages and disadvantages of bank reconciliation statement?
A bank reconciliation statement allows you view all of your transactions in one document, which makes it easier to find a transaction you may have forgotten to document or one you may have duplicated. There really aren't any disadvantages to bank reconciliation statements.
Is the Bank Reconciliation statement a part of financial statement?
Bank reconciliation statement is not part of financial statement it is the helping statement to tally bank account with balance in banks statement.
What Need and importance of bank reconciliation statement?
* Bank reconciliation statement ensures the accuracy of the balances shown by the pass book and cash book. * Bank reconciliation statement provides a check on the accuracy of entries made in both the books. * Bank reconciliation statement helps to detect and rectify any error committed in both the books. * Bank reconciliation statement helps to update the cash book by discovering some entries not yet recorded. * Bank reconciliation statement indicates any undue delay in the collection and clearance of some cheques.
Who prepares the bank reconciliation statement?
accountant
Bank reconciliation statement is prepared by?
bankers
When should a bank reconciliation be prepared?
A bank reconciliation should be prepared to reconcile the accounts in the company's books and those at the bank. This is usually done using bank statements.
How often do you prepare a bank reconciliation statement?
Monthly
Accounts and finance material?
what is the bank reconciliation statement
What is full form of BRS?
bank reconciliation statement
What does exactly bank reconciliation statement mean?
it means that it show the difference between the cash book and bank statement
