Page 209 - F3 -FA Integrated Workbook STUDENT 2018-19

Bank reconciliations

Bank reconciliations
Bank reconciliation statements

1.1 Overview

The purpose of a bank reconciliation statement is to check the
accuracy of an entity’s bank account record by comparing it with
the record of the account maintained by the bank.

The steps required to perform a bank reconciliation are as follows:

Step 2
 Tick off all  Prepare the bank

items in BOTH  Update the cash reconciliation
the cash book book for un- with the
and the bank ticked items in remaining
statement. the bank un-ticked items.
statement.
Step 1 Step 3

Illustrations and further practice

Now try question TYU 1 from Chapter 15 of the Study Text.

203