Podcast Series Ep7- What is a Bank Reconciliation and why is it important

in #accounting6 years ago

In financial management, businesses need to manage its cash flows....businesses compares external records (from the bank statement) with internal records which records all the bank transactions.... we discuss and explore what this means for businesses, how does the business identify and manage cash flows by reconciling its bank account?
These are some of the questions we consider with our students to get them to understand the purpose of a bank reconciliation....

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