Correct Answer: BRS - Bank Reconciliation Statement A bank reconciliation statement is a statement prepared by organizations to reconcile the balance of cash at bank in a company's own records with the bank statement on a particular date The differences may arise because of the following reasons: - Cheques deposited into bank but not yet collected by bank - Cheques issued by the organization but not yet presented for payment - Cheques directly deposited by customers into the bank - Bank charges debited by bank - Interest credited or some receipts directly collected by bank based on org request - Some payments directly made by bank based on the organizations request So, the statement shows the reasons as what are the reasons for difference in balance
