Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


Is bank reconcilation necessary for any organization ?
If yes, when should that performed ?

Answers were Sorted based on User's Feedback



Is bank reconcilation necessary for any organization ? If yes, when should that performed ? ..

Answer / prasad s

yes it is very important because without bank reconcialation
accounts can not be closed. so the reason we have to take
the bank statement from banks and ready to bank
reconcialation and what ever the balance in your bank book
balance and the bank statement should match each other. then
only BRS is correct.

Is This Answer Correct ?    13 Yes 0 No

Is bank reconcilation necessary for any organization ? If yes, when should that performed ? ..

Answer / sakthi arunarm

yes it is very important because without bank reconcialation
accounts can not be closed. with the help of the bank statement only our account is corrected by correct data due to some delay of work. then only BRS is correct

Is This Answer Correct ?    1 Yes 0 No

Is bank reconcilation necessary for any organization ? If yes, when should that performed ? ..

Answer / guest

it's necessary. & it is performed daily basis.

Is This Answer Correct ?    0 Yes 0 No

Is bank reconcilation necessary for any organization ? If yes, when should that performed ? ..

Answer / monika khandelwal

yes
bank reconciliation is very important for every
organization..because its helpful in verify cash & bank
balance..it should be done on monthly basis..without the
reconcile your bank balance, your final accounts is not
correctly presented...

Is This Answer Correct ?    0 Yes 0 No

Post New Answer

More Audit Interview Questions

What is the difference between compliance testing and substantive testing?

3 Answers  


1.is tds compulsory for commission paid on sales.2.if tds return for is submited for the interest paid on unsecured loans,what should be done.

2 Answers  


Audit strategy based

0 Answers   TATA,


What is Cost audit & its Type?

3 Answers  


when Deferred Tax Asset & Deferred tax liability arises?

19 Answers   ABC, Anchor, E-City Ventures, Infosys, Katha, Synergy, TATA,






what audit procedure i can do in the share capital account of a company and why it have been apply?

0 Answers   ICICI,


During the time of Audit which matters will be kept in mind?

2 Answers  


what is the entry for accrual expense and accrual income. And how they are treated. Thanks.

3 Answers   Cap Gemini,


what is the steel consumption per sq ft for ground plus 12 floors

0 Answers  


accounting seation and taxation caluation

2 Answers  


company A is parental company of company B.if company A pays rent for company B to landlord,What will be the journal entry recorded in the books of company A and company B?

2 Answers   Cognizant,


what percent of wages calculate from sales of a firm (registered under manufacturing of machinery spares) sales (appr)- RS.10000000/-

0 Answers  


Categories