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Bank Reconciliation Statement - Complete Guide Simple Steps - OneDDL - 11-24-2024
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Free Download Bank Reconciliation Statement - Complete Guide Simple Steps
Published 11/2024
MP4 | Video: h264, 1920x1080 | Audio: AAC, 44.1 KHz
Language: English | Size: 520.38 MB | Duration: 2h 18m
Mastering Bank Reconciliation: Techniques for Accurate Financial Statements and Seamless Cash Flow Management
What you'll learn
Introduction to Bank Reconciliation Statements
Understanding the Need for Bank Reconciliation
Components of a Bank Reconciliation Statement
Step-by-Step Process for Preparing a BRS
Types of Reconciling Items
Methods of Preparing Bank Reconciliation Statement
Practical Techniques for Bank Reconciliation
Journal Entries after preparing bank reconciliation statement
Learning with Examples
Requirements
No Requirement
Description
Welcome to the Bank Reconciliation Statement course! I'm thrilled to have you here as we embark on this journey to demystify one of the most essential financial processes in accounting and business management. Whether you're a student, a professional, or a business owner, this course will equip you with the knowledge and skills to confidently prepare accurate bank reconciliations, resolve discrepancies, and maintain precise financial records. Together, we'll explore step-by-step techniques, real-world examples, and practical tools that will make mastering bank reconciliation an engaging and rewarding experience. Let's dive in and build your expertise!Course FocusProviding a comprehensive understanding of bank reconciliation statements and their importance in financial accuracy.Teaching step-by-step techniques for identifying, analyzing, and resolving discrepancies between cash book and bank statement balances.Equipping learners with practical skills to prepare journal entries and maintain up-to-date financial records.Course ObjectivesExplain the purpose and significance of bank reconciliation in financial management.Break down the components of a bank reconciliation statement and their functions.Guide learners through the step-by-step process of preparing a bank reconciliation statement.Identify and address various types of reconciling items effectively.Demonstrate practical techniques for handling complex reconciliation scenarios.Teach the preparation of journal entries post-reconciliation to update accounting records accurately.Intended AudienceAccounting students and finance professionals seeking to strengthen their reconciliation skills.Small business owners who manage their own finances.Bookkeepers and administrative staff responsible for financial record-keeping.Anyone interested in improving their understanding of financial management processes.Learning ApproachStructured, step-by-step explanations of concepts and techniques.Real-world examples to illustrate common scenarios and solutions.Practical exercises to apply and reinforce learning.Clear and engaging delivery to make the material accessible and easy to understand.Downloadable resources, templates, and tools to support learning beyond the course.
Overview
Section 1: Course Introduction
Lecture 1 Introduction
Section 2: Introduction to Bank Reconciliation Statements (BRS)
Lecture 2 What is Bank Reconciliation Statement (BRS)?
Lecture 3 Key Terms and Concepts Related to Bank Reconciliation
Section 3: Understanding the Need for Bank Reconciliation
Lecture 4 Common Reasons for Discrepancies
Lecture 5 Consequences of Neglecting Reconciliation Processes
Section 4: Step-by-Step Process for Preparing a BRS
Lecture 6 Gathering Required Data: Bank Statement and Cash Book
Lecture 7 Identifying and Classifying Differences
Lecture 8 Adjusting Records for Reconciliation
Section 5: Reconciling Items in Bank Reconciliation Statement
Lecture 9 Deposit in Transit
Lecture 10 Outstanding Checks
Lecture 11 Bank Charges and Fees
Lecture 12 NSF Checks (Non-Sufficient Fund)
Lecture 13 Direct Debits
Lecture 14 Direct Credits
Lecture 15 Errors in Recording
Section 6: Methods of Preparing Bank Reconciliation Statement
Lecture 16 Adjusted Balance Method of BRS
Lecture 17 Example -Adjusted Balance Method of BRS
Lecture 18 Bank Statement Method (or Reconciliation Statement Method)
Lecture 19 Example - Bank Statement Method
Lecture 20 Comprehensive Example
Lecture 21 Journal Entries After Preparing a Bank Reconciliation Statement
Lecture 22 Journal Entries - Comprehensive Example
Beginners
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