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Level 3 Foundation Diploma in Accountancy

Bank Reconciliation Principles

AB303 · Maintaining Financial Records — Week 10 of 16

CourseAB303
Week10 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Bank Reconciliation Principles

  1. Purpose of bank reconciliation
  2. Causes of discrepancies between cash book and bank statement
  3. Timing differences, unpresented cheques, and outstanding lodgements
  4. Bank charges, interest, and direct debits

What you will be able to do

  • 4.1 Explain the purpose of a bank reconciliation statement.

Activity

Seminar, guided reading and a short written task: explain the purpose of a bank reconciliation statement.

Study materials

Videos

  • Accounting 1: Program #27 - "Bank Reconciliations" · YouTube · JCCCvideo · 47 min · for registered students
  • Accounting 1: Program #28 - "Bank Reconciliations" · YouTube · JCCCvideo · 45 min · for registered students

Further resources

  • Principles of Accounting Vol. 1, ch. 8.6: Bank reconciliation · PDF · OpenStax, textbook chapter; pp. 500–501 · for registered students
  • Introduction to Financial Accounting, Lyryx 2023-A, ch. 7: Cash and Receivables · PDF · Other, textbook chapter; pp. 263–306 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: The Accounting Equation
  • Week 2: Fundamental Accounting Concepts
  • Week 3: Double-Entry Bookkeeping Principles
  • Week 4: Processing Double-Entry Transactions
  • Week 5: The Trial Balance
  • Week 6: Trade and Cash Discounts
  • Week 7: The Three-Column Cash Book: Structure and Purpose
  • Midterm: Midterm evaluation
  • Week 9: Preparing and Balancing the Three-Column Cash Book
  • Week 10: Bank Reconciliation Principles
  • Week 11: Preparing the Bank Reconciliation Statement
  • Week 12: Applying Maintaining Financial Records in practice: case st…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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