How to explain BRS in interview for post of accountant?
How to explain brs in interview for post of accountant?
vinayak c. chavan (CPT passed) (1011 Points)
15 November 2011
4 Replies
(Guest)
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Ninad Pandit
(CA Final Student)
(254 Points)
Replied 15 November 2011
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
Ninad Pandit
(CA Final Student)
(254 Points)
Replied 15 November 2011
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 & bank), if any.....
nd moreoevr....jst focus on key issues lyk-----
cheques issued bt nt presented
cheques recd bt nt deposited
stale cheques.etc
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 16 November 2011
BRS is prepared to explain the difference between the Bank balance as per our books & 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:
Cheques deposited in the bank but not cleared by bank &
Cheques paid by the organization to its creditors 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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