Define a Bank Reconciliation and why they are done. Why are they important to the company? Discuss which internal control principles you think are the most important to safeguard cash receipts and cash payments and explain why Explain the limitations that internal controls have on cash receipts and payments in a company.

Answer rating: 100% (QA)

Bank Reconciliation A bank reconciliation is a process used to compare a companys accounting records of its cash balance to the balance shown on its bank statement It involves matching the transaction... View the full answer