(Difference between pages)
imported>Doug Williamson |
imported>Doug Williamson |
Line 1: |
Line 1: |
| 1. ''Cash management and accounting''.
| | A quantitative ranking of a financial institution’s level of service and customer responsiveness. |
|
| |
|
| A reconciliation is a quantified explanation of the differences between two related amounts.
| | The use of report cards is widely applied to measure financial institutions’ service levels. |
| | |
| Reconciliation checks are an important feature of internal control systems, to provide additional assurance about the completeness and accuracy of recording financial and other information.
| |
| | |
| | |
| A very important example is the reconciliation of bank statement balances with the amounts in the customer organisation's internal records.
| |
| | |
| | |
| Another common accounting example is the reconciliation of reported operating profit to net operating cash flows.
| |
| | |
| This statement explains why the figure for accounting profit differs from the net operating cash flows for the same period.
| |
| | |
| Each item contributing to the net difference is quantified within the reconciliation statement.
| |
| | |
| | |
| Another example is the comparison of a physical count of stock or other assets, compared with the amounts in financial or other records.
| |
| | |
| | |
| | |
| 2.
| |
| | |
| More generally, a reconciliation is a quantified explanation of the change in any balance, over a time period.
| |
| | |
| | |
| ''Sometimes abbreviated to 'rec'.''
| |
|
| |
|
|
| |
|
| == See also == | | == See also == |
| * [[Bank reconciliation]] | | * [[Key performance indicator ]] |
| * [[Cash flow]] | | * [[Service level agreement]] |
| * [[Cash management]]
| |
| * [[Full reconciliation]]
| |
| * [[Profit]]
| |
| * [[Tax reconciliation]]
| |
|
| |
|
| [[Category:Accounting,_tax_and_regulation]] | | [[Category:Compliance_and_audit]] |
Revision as of 09:46, 9 October 2013
A quantitative ranking of a financial institution’s level of service and customer responsiveness.
The use of report cards is widely applied to measure financial institutions’ service levels.
See also