Accounting 104 - Bank Reconciliation & Correction Of Errors

Accounting 104 - Bank Reconciliation & Correction Of Errors

This course "Accounting 104 - Bank Reconciliation & Correction Of Errors" is Part 4 out of a series of courses that are designed to help the complete beginner (someone who has no knowledge of accounting) master the basics of accounting and move on step by step to becoming a professional accountant!   

The course is not just theory but takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment.    

This is a slow moving course. Please do not expect me to move fast since it is designed for the beginner student. Those students who are already aware of accounting concepts should take a more advanced level course instead.   

In this course we are going to learn:   

• Why do the balances in the Cash Book & Pass Book differ?

• How to calculate the Adjusted Balance?   

• How to make the Bank Reconciliation Statement?

• Understand the types of errors in the accounting process:

  • Errors of Omission

  • Errors of Commission

  • Errors of Principle

  • Compensating Errors

• Passing Correction Of Error Entries in the General Journal 

• Get Awesome Practice in the process   

Having completed the entire series students of the proper age would be able to take up entry level jobs as Book Keepers and/or Accountants, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.

Learn to reconcile differences between the Cash Book & The Bank Statement, and Pass correction of error entries!

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What you will learn

• Students will be able to reconcile differences between the Cash Book & The Pass Book (Bank Statement)
• Students will be able to identify errors & pass correction entries

Rating: 3.9

Level: Beginner Level

Duration: 1 hour

Instructor: Shakir Elahi