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imported>Doug Williamson |
imported>Doug Williamson |
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| 1. ''Cash management and accounting''.
| | Service Level Agreement. |
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| A reconciliation is a quantified explanation of the differences between two related amounts.
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| 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.
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| A very important example is the reconciliation of bank statement balances with the amounts in the customer organisation's internal records.
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| Another common accounting example is the reconciliation of reported operating profit to net operating cash flows.
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| This statement explains why the figure for accounting profit differs from the net operating cash flows for the same period.
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| Each item contributing to the net difference is quantified within the reconciliation statement.
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| Another example is the comparison of a physical count of stock or other assets, compared with the amounts in financial or other records.
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| 2.
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| More generally, a reconciliation is a quantified explanation of the change in any balance, over a time period.
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| ''Sometimes abbreviated to 'rec'.''
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| == See also == | | == See also == |
| * [[Bank reconciliation]] | | * [[Service level agreement]] |
| * [[Cash flow]] | | * [[SLA partner banking]] |
| * [[Cash management]] | | * [[QA]] |
| * [[Full reconciliation]]
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| * [[Profit]]
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| * [[Tax reconciliation]]
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| [[Category:Accounting,_tax_and_regulation]]
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Revision as of 14:09, 5 April 2016
Service Level Agreement.
See also