Question

what is importance of BRS

Answer 1

* Bank reconciliation statement ensures the accuracy of the balances shown by the pass book and cash book.

* Bank reconciliation statement provides a checkon the accuracy of entries made in both the books.

* Bank reconciliation statement helps to detect and rectify any error committed in both the books.

* Bank reconciliation statement helps to update the cash book by discovering some entries not yet recorded.

Answer 2

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1⃣ Bank reconciliation statement is an important technique by which the accuracy of the bank balance shown by the pass book and cash book is ensured.

2⃣Bank reconciliation statement helps to update the cash book by discovering some entries not yet recorded.

3⃣A bank reconciliation is used to compare your records to those of your bank, to see if there are any differences between these two sets of records for your cash transactions


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