Bank Reconciliation Practice Exam
About Bank Reconciliation
Under
financial accounting, bank reconciliation refers to the process of
reconciling the bank account balance in a company’s accounting books
with the balance reported by the bank as per the bank statement.
If any difference is observed then it is analyzed and if applicable it is corrected.
Companies should verify and reconcile their bank reconciliation statement on regular basis to avoid any discrepancies.
Why is Bank Reconciliation important?
Bank Reconciliation is important for a company as it
• Correctness of bank interests, charges, etc.
• Any error in debiting or crediting in the transactions
• Spot any unusual transactions due to fraud or
• Accounting errors can be easily located
• Locate any inefficiencies
• List any uncleared checks or deposits in transit
Who should take the Bank Reconciliation Exam?
Who this course is for:
• Accounting and finance students
• Business owner
• Anyone who wants to assess their accounting skills
Bank Reconciliation Certification Course Outline
1. Basic Accounting Principles and Framework
2. The Accounting Equation and Financial Statements
3. The Accounting Cycle and Accrual Accounting
4. Accounting Transactions and Books of Account
5. Bank Reconciliation