Achieving the right balance
13 September 2012
The important role of the bank reconciliation statement.
Students preparing for assessment in Unit 3 Preparing Ledger Balances and Initial Trial Balance need to develop competence in preparing a bank
reconciliation statement. In element 3.1, performance criteria C and D read ‘Compare individual items on the bank statement and in the cash book for accuracy’ and ‘Identify discrepancies and prepare a bank reconciliation statement...