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Funding a business
How To Trace Bank Statement And Financial Statement Inconsistencies?
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[QUOTE="Suba, post: 244518, member: 3658"] I am more familiar with using the term difference between a company account balance and a bank account balance rather than inconsistencies, My experience If at the end of the month we (the company) receive a bank statement, the company accountant's job is to prepare a bank reconciliation, which is useful for tracing the traces of all financial transactions between the bank and the company, so that differences between company accounts and bank accounts will be disclosed immediately, this difference often occurs because deposits in the process have not been recorded by the bank, checks out that have not been taken by the beneficiary, bank charges, interest earned etc. The duties of both internal and external auditors are certainly different from corporate accountants, the auditor's job is only to check the feasibility of financial statements that are presented fairly, in this case the auditor will only make bank confirmations that the balance is appropriate or not. [/QUOTE]
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How To Trace Bank Statement And Financial Statement Inconsistencies?
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