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Cash is always one of the most important resources in any organization. The bookkeepers have intense pressure to keep cash at bank balance up to date. The bookkeepers often struggle to match up the cash book balance and bank statement balance.

This course explains the methodology and art of bank reconciliation. Where you learn from the scratch to expert level that how to prepare, maintain, develop and most important reconcile cash book and bank statements. Plus, how to report the cash figures in financial statements.

Moreover, the trainees usually do have knowledge about the subject matter but they fail to apply that in the real-life scenarios. This course helps to apply your knowledge in most complex bank reconciliation real life scenarios and to make you PRO bookkeeper.

Course Key Concepts: Bank Reconciliation, Bookkeeping, Accounting, Accountancy, CPA, ACCA, Financial, Accountant, Bookkeeper, Cashbook, Bank Statement, Training.

Learning Objectives

  • Explore the purpose of reconciliation of the bank ledger account to the corresponding bank statement.
  • Identify errors and omissions in the bank ledger account and bank statement.
  • Identify timing differences.
  • Explore the methodology to make the correcting entries in the bank ledger account.
  • Learn the reconciliation between the bank statement balance and the corrected bank ledger account.
  • Identify the bank balance to be reported in the final accounts.
Last updated/reviewed: May 13, 2022

2 Reviews (17 ratings)Reviews

4
Member's Profile
Good review of a basic reconciliation. Thank you for providing the course.
3
Member's Profile
A good recap of the basic bank reconciliation issues.

Prerequisites

Course Complexity: Foundational

The basic bookkeeping knowledge is required.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  7:02Course Introduction and Preview
  12:39The Bank Reconciliation Concept
  12:10Purpose of Bank Reconciliation
  12:32Methodology of Bank Reconciliation
  18:54Common Errors and Adjustments
  14:58Importance of Internal Control
  8:45Example One
  10:20Example Two
  5:24Example Three
  17:36A Comprehensive Case Study
CONTINUOUS PLAY
  2:00:20Bookkeeping: The Bank Reconciliation
SUPPORTING MATERIAL
  PDFSlides: Bookkeeping: The Bank Reconciliation
  PDFBookkeeping: The Bank Reconciliation Glossary/ Index
  XLXSExamples and Case Study
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM