Trial balances and bank reconciliation, Financial Management

Trial Balances:

If the trial balance does not result in a "0", the various records will need to be reviewed to pinpoint the spot where the unbalance occurred and any necessary adjustments will be made.

At various intervals trial balances would need to be drawn up. Trial balances look to the ledgers to ensure that all entries have an equal credit and debit entry. The books are said to balance of the total of the ledgers credit and debit sides equal "0".

Bank Reconciliation:

Once the trial balance is completed and a result of "0" is confirmed, a reconciliation is carried out. The bank reconciliation compares the entries in the organisations books with those outlined in the applicable bank statement. If the two reports match then the books are said to be reconciled.

 

 

 

Posted Date: 10/1/2012 4:31:07 AM | Location : United States







Related Discussions:- Trial balances and bank reconciliation, Assignment Help, Ask Question on Trial balances and bank reconciliation, Get Answer, Expert's Help, Trial balances and bank reconciliation Discussions

Write discussion on Trial balances and bank reconciliation
Your posts are moderated
Related Questions
Q. Merits of Wealth Maximization Approach? Merits of Wealth Maximization Approach:- The wealth maximization schema is superior to the profit maximization approach because:

a-ii, should i calculate the co-variance of the 30 securities?

Q. Calculate Average Annual Return? An investor buys a bond in 1978 maturity in 1980 at Rs.900. It has a maturity value of 10 years and par value of Rs. 1000. It fetches RS.90

These securities are backed by income-producing real estate, usually in the form of warehouses, shopping centers, apartments, office buildings, senior housi

What is Net Present Value? Describe please.

i want some presentation slides of this chapter from page 570 to 580

Given below are the cash flows of a project. Find out the net present value of the project. Cost of capital is 18% and initial investment is Rs. 2,00,000. Year Cash Flows (lakhs)

Global Economy: The size of the world stock market grew steadily in the 1970s and 1980s and crossed the $12 trillion figure in 1993. The share of the US market decreased tremen

(a) iTraxx is a group of credit derivative index managed by the International Index Company (IIC) and covering Europe and Asia and Australia. The body in the portfolio forming th

a) Globalisation refers to the interdependence and integration of economic, social and politic issues (services, goods, people and capital), across the world. For example, consumer