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  2. Bank reconciliation - Wikipedia

    en.wikipedia.org/wiki/Bank_reconciliation

    In bookkeeping, a bank reconciliation or Bank Reconciliation Statement (BRS) is the process by which the bank account balance in an entity’s books of account is reconciled to the balance reported by the financial institution in the most recent bank statement. Any difference between the two figures needs to be examined and, if appropriate ...

  3. What is a bank reconciliation statement? - AOL

    www.aol.com/finance/bank-reconciliation...

    Bank reconciliation statements can help identify accounting errors, discrepancies and fraud. For instance, if the company’s records indicate a payment was collected and deposited, ...

  4. Reconciliation (accounting) - Wikipedia

    en.wikipedia.org/wiki/Reconciliation_(Accounting)

    Reconciliation of accounts determines whether transactions are in the correct place or should be shifted into a different account. Reconciliation in accounting is not only important for businesses, but may also be convenient for households and individuals. It is prudent to reconcile credit card accounts and checkbooks on a regular basis, for ...

  5. Accounting - Wikipedia

    en.wikipedia.org/wiki/Accounting

    Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]

  6. Cash management - Wikipedia

    en.wikipedia.org/wiki/Cash_management

    The following is a list of services generally offered by banks and utilized by larger businesses and corporations: [5] Account reconciliation Bank reconciliation can be difficult for a very large business: since it issues so many checks, it can take a lot of human effort to work out which checks have not cleared and therefore what the company's true balance is.

  7. Record to report - Wikipedia

    en.wikipedia.org/wiki/Record_to_report

    Record to report or R2R is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how a business is performing. [1]

  8. Separation of duties - Wikipedia

    en.wikipedia.org/wiki/Separation_of_duties

    Reconciliation of applications and an independent verification process is ultimately the responsibility of users, which can be used to increase the level of confidence that an application ran successfully. Exception reports are handled at supervisory level, backed up by evidence noting that exceptions are handled properly and in timely fashion.

  9. Liability (financial accounting) - Wikipedia

    en.wikipedia.org/wiki/Liability_(financial...

    When a company deposits cash with a bank, the bank records a liability on its balance sheet, representing the obligation to repay the depositor, usually on demand. Simultaneously, in accordance with the double-entry principle, the bank records the cash, itself, as an asset. The company, on the other hand, upon depositing the cash with the bank ...