Bank Reconciliation Statement And Adjustments For Errors In Financial Statement

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Private Class from

2400/day

(2 Days)

BENEFITS

Upon completion of this program, participants will be able to:

  • Learn the common discrepancy on accounting record and bank statement.
  • Learn how to update the bank account in the ledger account with the bank statement.
  • Manage the bank reconciliation process flow properly.
  • Know the impact of granting excessive credit to customer and effect in the financial statement.
  • Distinguish between the different kinds of errors that may arise when financial transactions are recorded and journalize the errors to ensure accuracy of ledger account.
  • Reconcile or recomputed the profits and statement of financial position after errors have been corrected.

INTRODUCTION

Every finance staff faces difficulty in reconciling the bank balance with the bank statement due to most companies write hundreds of checks each month and customers make multiple deposits services and bank charges by the bank and other items . The process is complicated and tedious task because some items appear in the bank account in one month, but appear on the bank statement in a different month. It is also common for accounting staff to capture the incorrect accounting entries on the wrong side of the account. By attending this course, you will equip your staff the knowledge in identifying and correcting a range of errors that can arise when financial transactions are captured initially in the ledger account.

AUDIENCE

This program is suitable for Administrative Assistants and Managers, Officers who monitor Accounts, Account Receivable and Collection Department Staff, Accounts Clerks and Supervisors, Finance Executive and Officer, Secretaries and Supporting Staff involved in the preparation of account.

METHODOLOGY

This stimulating program will maximize the understanding and learning through lectures, discussions, case studies and practical activities.

KEY MODULES
  • Module 1 - Purpose Of Bank Reconciliation Statement
  • Module 2 - Completing Entries In The Cash Book
  • Module 3 - Approach To Bank Reconciliation
  • Module 4 - Managing Account Transactions
  • Module 5 - Credit Control Policy And Evaluation
  • Module 6 - Errors Not Affecting The Balancing Of The Trial Balance
  • Module 7 - Suspense Accounts

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