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Bank Reconciliation Statement

CBSE · Class 11 · Accountancy

Quick revision notes for Bank Reconciliation Statement — CBSE Class 11 Accountancy. Key concepts, formulas, and definitions for last-minute revision.

145 questions62 flashcards5 concepts

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Key Topics to Revise

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1. Meaning and Need of Bank Reconciliation

  • A bank statement or passbook is a copy of a bank account as shown by the bank records.
  • The balance shown in the passbook and the cash book should theoretically tally, but in practice they usually differ.
  • Reconciliation of the cash book and the bank passbook balances means explaining the differences between them.
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2. Causes of Difference Between Cash Book and Passbook

  • A time lag exists between issue of a cheque and its presentation to the bank, causing balance differences.
  • Clearing of deposited cheques generally takes a few days, especially outstation cheques or those deposited at a different branch.
  • Direct bank debits such as charges, interest on overdraft, and dishonoured cheque deductions make the passbook balance less than the cash book balance.
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3. Treatment of Common Items in BRS

  • Cheques issued but not yet presented for payment are added when starting from the cash book balance.
  • Cheques deposited but not yet collected are deducted when starting from the cash book balance.
  • Direct debits made by the bank on behalf of the customer are deducted when starting from the cash book balance.
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4. Balances and Four Situations

  • Debit balance as per cash book means a favourable balance.
  • Credit balance as per cash book means an overdraft and is an unfavourable balance.
  • Credit balance as per passbook means a favourable balance.

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Full Notes

Key Concepts

The cash book records cashDifferences arise when a transactionDifferences may also arise from mistakesA debit balance as per cashAn overdraft is a negative bank

Frequently Asked Questions

What are the important topics in Bank Reconciliation Statement for CBSE Class 11 Accountancy?
Bank Reconciliation Statement covers several key topics that are frequently asked in CBSE Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Bank Reconciliation Statement — CBSE Class 11 Accountancy?
Understand the core concepts first, then work through the 145 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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