need answers,pls. (1 Viewer)

[gana08]

Can anyone out there give me answers to the following questions in relation to accounting?

What are the steps in a bank reconciliation?

How do statements of financial position and statements of financial performance differ from each other? and

What is the signifigance of the heading of the statement of financial position and statement of financial performance?

Also, this is my first time on this site. please tell me if i have sent it to the correct forum. if not, where should i go? i'm a novice when it comes to internet forums. thank you.

 

[Bookie]

Wrong forum honey, I'm guessing you want accounting...if there is a subject, or stick it in business studies or economics.

I'll have a go at the questions though;

1) The steps are left, left, right, right, twist and repeat. This formation should soon lead to a corroboree like dance, which inturn signifies reconciliation.

2)The statements differ from each other as financial position just tells you how to move in order for a successful bank reconciliation corroborree, whereas a financial performance statement sees how well you didthe corroboree and whether bank managers will call upon you once more to do another corroboree in the near future.

3) Personally, i think giving head in the financial position leads to good financial performance, so the significance is to five good head in a good position.

 

[Pubert]

Wrong forum honey, I'm guessing you want accounting...if there is a subject, or stick it in business studies or economics.

I'll have a go at the questions though;

1) The steps are left, left, right, right, twist and repeat. This formation should soon lead to a corroboree like dance, which inturn signifies reconciliation.

2)The statements differ from each other as financial position just tells you how to move in order for a successful bank reconciliation corroborree, whereas a financial performance statement sees how well you didthe corroboree and whether bank managers will call upon you once more to do another corroboree in the near future.

3) Personally, i think giving head in the financial position leads to good financial performance, so the significance is to five good head in a good position.

Hmm, interesting.

 

[seremify007]

I'm pretty sure there's an Accounting board for people doing TAFE.

What are the steps in a bank reconciliation?
- Should be in your text book/equivilent... I had a glimpse at my text book since we haven't covered it in uni yet and it looks pretty straightforward.

How do statements of financial position and statements of financial performance differ from each other? and

Statement of Financial Position is Balance Sheet
Statement of Financial Performance is Income Statement

What is the signifigance of the heading of the statement of financial position and statement of financial performance?

Uhh.. one is talking about the current position of the company whereas the other is talking about how they went during the year.