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How to clarify BRS in interview for post of accountant?

10153151 616441875107752 6844265409377433766 n asked

How to clarify BRS in interview for post of accountant?

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Bank reconciliation statement is the statement prepares to know the difference between pass book and cash book ,due to the statement the errors crept in can be known and reconciliation is done

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

BRS is a statement which reconciles the bank balance in our books with the bank statement.... and explains the reasons for d differences in books of both (our and bank), if any..... nd moreoevr....jst concentrate on key issues lyk - checks issued bt nt presented checks recd bt nt deposited stale cheques.etc

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10153151 616441875107752 6844265409377433766 n answered

BRS is prepared to explain the difference between the Bank balance as per our Books and the balance in the books of bank. Ideally speaking in real practice the difference between the bank balance between the two books is because of the following two: Chequess deposited in the bank but not cleared by bank. Rest all of the entries such as Bank Charges, direct debits/credits,dividend received etc are being entered in the books of the organization once the Bank Statement is received from the Bank.

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