Bank Reconciliation

Bank

Lesson Plan – The Bank Getting back together Statement Basic Objectives: Pupils will:

1 . Account for variations between the cash book and bank statement balances.

installment payments on your

Construct a bank reconciliation statement making use of the adjusted trial balance.

Specific Objectives: Learners will: Cognitive:

1 . Demonstrate knowledge of the concept of reconciling bank statements.

2 . Explain the issues as to why your cash book and bank declaration may not harmony.

Psychomotor: 1 . Construct a bank reconciliation statement making use of the adjusted funds book equilibrium.

Affective: 1 . Value the importance of planning a bank reconciliation affirmation.

Prior Know-how: Students have got a clear comprehension of: 1 . Both the column money book.

Lessons 1 – Bank Getting back together Statement| TIME(minutes)| ELEMENTS| METHOD| CONTENT| EDUCATOR ACTIVITIES| STUDENT’S ACTIVITIES| TUTOR – LEARNING RESOURCES| EVALUATION| | Collection Induction/Introduction| -| , Scenario| -Discussion| -Listening- Responding| | , Formative Questioning| | | | Objectives| Writing the Specific Aims | | | | | Presentation 1| -| , Factors behind the difference in the bank declaration and the cash publication. -Questioning- Providing information-Explaining| -Listening- Responding| , Chart- Whiteboard- Whiteboard markers| , Formative Questioning| | Summary 1| Review of Display 1| -| Questioning| , Responding| | , Formative Questioning| | Presentation 2| -| , Definition of terms| -Providing information-Explaining| -Listening- Responding| , Chart- Whiteboard- Whiteboard markers| , Formative Questioning| | Synopsis 2| Review of Presentation 2| -| -Questioning| , Responding| | , Formative Questioning| | Presentation 3| | , Model of an example| -Providing information-Explaining| -Listening- Responding| , Chart-

Whiteboard- White board markers| , Formative Questioning| | Brief summary 3| Report on Presentation 3| -| -Questioning| , Responding| | , Formative Questioning| | Evaluation| -| , Students will certainly complete prepared worksheet| -Observation| , Working| , Whiteboard- Whiteboard markers| , Summative| | Conclusion| Correction of exercise | -| , Providing feedback| -Providing Answers| , Student’s work| -| | Closure| -| , The educator will assessment and recap the lessons and then dismiss the class. | , Disregarding of pupils. | -| -| -| Lesson Paperwork Set Debut ? initiation ? inauguration ? introduction

Edward Cullen from the movie The twilight series has a bank-account and funds to manage. You will learn to check his monthly consideration statement and help him make certain his financial institution balance is proper. This will help him to make sure that he has enough money pertaining to his date with Bella this weekend. This will help you in your own your life with your own bank responsibilities. A bank statement is a comprehensive record in the checking account from your bank. The bank statement equilibrium is the amount of cash left in the account every bank’s documents. The verify book harmony is the sum of money left in the account every depositor’s data.

All banking institutions use computers to prepare bank statements. Info about all checks paid out and all deposits received are entered into the pc in order to keep the depositor’s consideration up-to-date. All the data that is certainly stored in the pc is branded out on the bank statement. People usually always be differences between your check book balance plus the bank affirmation balance. In this lesson, you will begin to learn how you can explain these kinds of differences by preparing a bank getting back together statement. This statement is used to bring the check publication and the lender statement bills into contract.

Presentation 1

The educator will now make clear the reasons pertaining to the difference inside the bank affirmation and the money book. That are as follows:

1. Un-presented cheques
2. Dishonoured cheques
3. Direct debits
4. Standing purchases
5. Bank cariz credit

Presentation 2

The teacher gives a brief explanation on the meaning of the items, and why they might cause the financial institution statement and bank account balances to differ.

Display 3

The teacher displays a circumstance where the funds book lender balance as well as the bank affirmation balance differ.

CASH PUBLICATION DATE| PARTICULARS| AMOUNT| DATE| PARTICULARS| AMOUNT| 2011| | $| 2011| | $|

Dec 1| Balance b/f| 250| December 5| L. Gordon| 65| Dec 20| P. Thomas| 100| December 27| K. Hughes| 175| Dec 28| D. Jones| 190| December 31| Equilibrium c/d| 300| | | 540| | | 540| 2012| | | | | | Jan 1| Balance b/d| 300| | | | Bank Affirmation 2011| Particulars| Withdrawals| Deposits| Balance| | | $| $| $| Dec 1| Balance b/f| | | 250| December 8| 10625| 65| | 185| Dec 21| Deposit| | 100| 285| December 28| Deposit| | 190| 475| December 29| 10626| 175| | 300| December 30| Financial institution Giro credit rating: P. Smith| | 70| 370| December 31| Lender charges| 50| | 320| | | | | | It is currently possible to view that the two items not really shown inside our cash publication are: Financial institution Giro credit, P.

Cruz $70 L. Smith acquired paid all of us $70, nevertheless instead of spending us by simply cheque this individual paid into the bank. All of us did not understand this right up until we received the bank statement. Bank fees $50 The bank had incurred us 50 dollars for keeping our bank account and all the work linked to it. Instead of notifying all of us they have basically taken out the amount of money out of the bank account. The total amount in our money book was $300, while our traditional bank statement reveals a balance of $320. To prove that even though the balances differ they can be “reconciled” with each other, a bank reconciliation statement will be drawn up.

As now determined the items missing from our cash book we are able to now finish writing up as follows. Bank Reconciliation Affirmation as at 31 12 , 2011 Equilibrium as per money book $300 Add: Bank Giro credit $70 $370 Less: Bank charges $50 Balance as per bank assertion $320 The completed cash book might now appear as follows:

FUNDS BOOK DATE| PARTICULARS| AMOUNT| DATE| PARTICULARS| AMOUNT| 2011| | $| 2011| | $|

December 1| Stability b/f| 250| Dec 5| J. Gordon| 65| December 20| P. Thomas| 100| Dec 27| K. Hughes| 175| December 28| D. Jones| 190| Dec 31| Bank charges| 50| Dec 30| P. Smith| 70| Dec 31| Balance c/d| 320| | | 610| | | 610| 2012| | | | | | Jan 1| Harmony b/d| 320| | | | | | | | | | Analysis: The teacher would present each scholar with a practice exercise on prepaid price accounts scenarios. During this time the teacher would walk around the classroom observing the scholar’s responses and offering assistance were required.

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