Is Bank Reconciliation Statement is compulsory prepared?
Even when both cash & Bank Book are tally?
- 13 Answers
- 22820 Views
- GE, IBM, Mphasis, OPI Global, ETA, Ascon, Star, Alfa Textiles, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / bharat
Yes. How can we know all chqs deposited/issued cleared or
not. Balance may b tally bcoz compansation entry. Eg.
Rs.500/- chq issued but not cleared & Rs.500/- bank charges
dr. by bank not in bank book of company
| Is This Answer Correct ? | 67 Yes | 4 No |
Answer / ganesh reddy
ON MY view,
the BRS Is prepared to know the diff bitween CB AND PB.
Even CB and PB also eqeal ,there also we can find some diff.
Eg:- if we issued a cheek to our creditor Rs 1000/- but he
is not withdrawn.
after that
we also took one cheek from our Dr Rs 1000/- but not
deposited into bank but we recorded our books.
then also the both books to be same.
for find this mistakes we compulsary made BRS.
THANK .
| Is This Answer Correct ? | 30 Yes | 5 No |
Answer / vpnarasimhan@gmail.com
The logic behind this requirement is we have to be sure &
secure whether all the deposits we have made are accounted
by bank properly.Bcoz if some mistake happened at Banker's
end say it has been credited to some xyz account by error
what will happen. Imagine U might have issued cheques based
on the deposits u have made. In order to over come these
difficulties we necessarily have to prepare BRS. Bank
charges & Interest (payable/received) can be derived only if
you can able to do BRS.
This is not to scrutinize the Banker but to check the
accuracy of books of accounts at our end.
The most important amazing fact is that most of the
fraudulent activities can be found out only with the help of
BRS
| Is This Answer Correct ? | 19 Yes | 1 No |
Answer / siva kumar
yes.cash book& bank book both are complisory equal.
| Is This Answer Correct ? | 23 Yes | 9 No |
Answer / abdul bari
yes, eventhough the cash and bank books tally
| Is This Answer Correct ? | 10 Yes | 3 No |
Answer / ankush kumar
BRS is prepared to know the reason of diff. b/w cash book and pass book.
even CB and PB balances are tally we should make BRS because balance may be tally rectification entries....
Like we deposited a ch. of rs.1000. and yet not cleared and bank credited rs. 1000 as interest. so balance will be tally.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / ashish baisoya
yes, that is used for equilization of cash book & pass book
eg:cheque deposite but not cleared in bank
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / m irfan khan
the meaning of brs statement is that it is prepare when
there is a difference between cash book and pass book for a
particular period. it clearly indicate that if only when
there is difference you need to prepare
| Is This Answer Correct ? | 5 Yes | 3 No |
What z d diff of accounting principle,accounting standard,accounting rules,accounting procedures,accounting concepts??????
Differents between Equity Share and Preference Share Capital?
expand R T C
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
Expand---------SDRT
what is the difference between intangible assets and fictious assets
Expand ________BCSB
what is bank reconciliation statement
Expand N S E
i need sbi bank clerk exam model question papers
What is management? what is finncial management? difference b/w accounts& finance?
what is participation right is it a debt? or not?
Audit 
