CHAPTER 12
B A N K R E C O N C I L I AT I O N
,LEARNING OUTCOMES
• After completing this lecture, student should be able
– Distinguish and explain items appearing in the bank
statement and bank account
– Prepare the updated bank account
– Explain the purpose of preparing the bank reconciliation
statement
– Prepare the bank reconciliation statement.
, INTRODUCTION
• Normally every business has ‘current account’
with a bank and periodically receive a bank
statement from the bank.
• Upon receiving bank statement, we will see on
ending balance stated in bank statement besides
look at detail transaction in the bank statement.
• The business expects that ending balance stated
in bank statement will has same figure as a bank
account maintained by the business.
B A N K R E C O N C I L I AT I O N
,LEARNING OUTCOMES
• After completing this lecture, student should be able
– Distinguish and explain items appearing in the bank
statement and bank account
– Prepare the updated bank account
– Explain the purpose of preparing the bank reconciliation
statement
– Prepare the bank reconciliation statement.
, INTRODUCTION
• Normally every business has ‘current account’
with a bank and periodically receive a bank
statement from the bank.
• Upon receiving bank statement, we will see on
ending balance stated in bank statement besides
look at detail transaction in the bank statement.
• The business expects that ending balance stated
in bank statement will has same figure as a bank
account maintained by the business.
