Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / more akshay dhondu
A B.R.S. is a statement prepared by organizations to
reconcile the balance of cash at bank in a company's own
records with the bank statement on a particular date.
This statement is the most common tool used by
organizations for reconciling the balance as per books of
company with bank statement & is made at the end of every
month. The main objective of reconciliation is to ascertain
if the discrepancy is due to error rather than timing.
Following steps can carry in Accounts to calculate B.R.S.
1. Cheques drawn but not yet presented to the bank.
2. Cheques received but not yet deposited in the bank.
3. Interest Credited & not recorded in the organization's
book.
4. Bank charges debited but not recorded in the
organizations books.
& Following steps can carry in Cost Accounting to calculate
B.R.S
------------------------------------------------------------
! Net As Per Cost Sheet Amt.
! Add:-
! 1. Any stock's opening balance is overvalued
in cost book. Amt.
! 2. Any stock's closing balance is undervalued
in Cost Book & Overvalued in organization's books Amt.
! 3. Administrative or Selling Expen. Overvalued
in Cost book & Under valued in Organization'
book. Amt.
4. Any dividends received in organization's book &
not recorded in Cost book. Amt.
------
Amt
Less:-
1. Any interest debited in organization's book &
not recorded in Cost book. Amt.
2. Loss on Sale of Assets debited in
organization's book & not recorded in Cost book.
3. Godwill, Preliminery Exp. or any Exp. written
off in Organization's book. Amt.
4. Any tock's Opening balance is overvalued in
financial book. Amt.
5. Any Stock's Closing balance is overvalued in
Cost book. Amt.
6. Administrative Exp. or Selling Exp. is
overvalued in organization's book. Amt.
------
Amt
----
Profit as per Organization's book Amt
----
----
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
Expand---------OTMD
How to enter PO in SAP
Since the interest rates on fixed deposits are very low as compared to the other growth oriented investment options, what are the permitted investment options that a public trust like that of a private school or small credit societies have and which are permitted by charity commissioner, Mumbai
Please define Transaction Type , Movement Type , Asset Transaction Type , Item Type & Document type. Please also give examples of each of them
What is revaluation of Accounts, how does it is accounted in business
what is the system of accounting and banking in cooperative bank?
What are the benefits ofparticipation in a depository?
plz tell me the finance questions asked in hsbc latest question asked in hsbc?
You been asked to prepare a training class for completing expense statements. What points will you emphasize to insure accurate expense statements are submitted?
WHAT WILL BE THE ACCOUNTING ENTRIES IN THE BOOKS IN CASE OF A COMPANY HAVING ITS SHARE CAPITAL WHEN A NEW COMPANY (LTD OR (P) LTD) IS FORMED ?
What will be entry pass in tally if TDS paid by Credit Card.?
Suppose the production is more and sales less then what will happen
Expand-------NSAC
What part can management policy play in the analysis of cost behaviour?
what is portfolio Saint?
