Answer Posted / sujata
BRS stands for Bank Reconcilliation Statement.It is a
statement wherein we reconcile the Cash Book(Bank bal) with
the Bank Statement.Ideally Bank Statement should match with
the Cash Book but there can be some differences due to
timing e.g. when we receive a cheque we immediately post it
in the cash book as debit but in ur bank statement it does
not reflected till it is actually cleared so it is obvious
that there would be some differences or fraud ..This is an
important tool for internal Control.
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