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bank reconciliation statement is not part of financial statement it is the helping statement to tally bank account with balance in banks statement.

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โˆ™ 2014-07-20 13:25:47
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q: is the bank reconciliation statement a part of financial statement ?
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why do you prepare a bank reconciliation statement?

when the balances of our cash book and pass book do not agree, we prepare a bank reconciliation statement. a bank reconciliation statement is prepared periodically to reconcile the two balances and explain the reasons for the difference between them. it shows the items and the errors causing the difference as on a particular date. it is just a statement and not a part of the books of accounts.

is a cash flows part of a financial statement?

no. cash flow is not part of a financial statement, but is a finance statement along with the statement of comprehensive income and statement of financial position. cash flow shows the liquidity of an organisation.

what is two part bank reconciliation statement?

a form that allows individuals to compare their personal bank account records to the bank's records of the individual's account balance in order to uncover any possible discrepancies.

is a cash flow statement part of a financial statement?

yes cash flow statement is part of financial statements and mandatory to provide along with income statement and balance sheet.

is wells fargo financial a part of chase bank?

no, wells fargo financial is not a part of chase bank. in fact, wells fargo financial has been competing against the said bank (chase bank) for becoming the leading financial institutions in america.

why do you say that financial statement analysis is management by exception?

why is financial statement analysis part of business analysis? please answer this question, i'll need it this answer!

what items might be in the financial statements but not actually on the balance sheet income statement statement of retained earnings or statement of cash flows?

since the notes to the financial statements form part of the financial statements and are a component of financial statements, certain disclosures found in the notes may not be found in the balance sheet, income statement, statement of retained earnings or statement of cash flows.

what is reconciliation in accounts?

reconciliation need two many part of accountin cash i.e. bank both are need to rough idia for balance in hand or in bank reconciliation also need for debtor or creditor to know the receivable balance or payable balance exect ag. bill or other sources or receipt or payment..

does bank expense goes at income statement?

yes all kind of expenses related one specific fiscal year goes to income statement so as bank expense or bank charges are also part of income statement.

what is the difference between balance sheet and financial statement if there is any........?

balance sheet: balance sheet is the financial picture of an organization on a given day. while financial statement is a broader term and it can be for a very long time. financial statment is a formal record of business financial activities. it can be a day. month a year or so on. while balance sheet is just a part of a financial statement. in short balance sheet is also a finanaical statement. but finanacial statement can not be balance sheet..

does bank over draft go on an income statement?

bank over draft is not part of income statement in accrual based accounting system as it is the cash inflow not any income or expense.

where does accumulated depreciation go on a multiple step income statement?

accumulated depreciation is a part of financial statement while its counteract or effect is recorded into income statement as a depreciation expense.

what part of the elements of financial statements does inventory bleong to?

inventory is part of balance sheet as well as income statement. inventory is shown as an asset in balance sheet and as an expense when used in income statement.

why an auditor should not prepare the financial statement and then express an opinion also the standards to which this relates?

the auditor is the person who assesses whether the financial statement has been prepared accordingly or not. firstly it is not the role of the auditor to prepare the financial statement as the auditor has to form an independent opinion. secondly, it would be part of internal control and corporate governance activities for the preparation of the financial statement and the audit to be conducted be two separate parties to eliminate error or fraud.

what are the important of accounting ratio?

ratio is the part basically to compare the financial statement of one co with another...

where do you find credit purchases in financial statements?

credit purchases are shown in income statement as a part of total purchases.

what part of speech is bank?

the word bank can be a noun and a verb. the noun form is an institution where one can deal with their financial affairs. the verb form means to put (e.g. money) into a bank.

what is the royal bank of scotland international plc?

there is no "royal bank of scotland international plc". there is a "royal bank of scotland plc" which is a part of the rbs group, an international banking and financial services company.

what is a working capital statement?

working capital statement (wcs) is part of the financial statements' "statements of cash flows or changes in financial position." the wcs normally includes sections covering: sources of working capital, uses of working capital, and working capital changes.

are chase atms open to people who are not using chase as their bank?

chase atms are open to people who do not use chase at their bank. there will be a service fee from chase bank, and from your own financial institution if that is part of your banking discloures.

where do common shares go on financial statement?

common share are part of equity of business that's why shown in equity section of balance sheet.

what is the stock symbol for charter one bank?

charter one bank does not have stock. charter one is part of citizens financial group here in the us, and cfg is wholly owned by the royal bank of scotland. their symbol is rbs

is this statement true or falsethe (then) part of a conditional statement is the conclusion.?


what is cost value reconciliation?

cost reconciliation is the part of a production report that shows what costs a department has to account for during a period and how those costs are accounted for.