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GRADE 12 - Reconciliations

GRADE 11 - Reconciliations


Analysis and interpretation of bank, debtors’ and creditors’ reconciliations:

  • reconcile creditors’ statements with their personal accounts
  • reconcile debtors lists and creditors lists with control accounts
  • analyze and interpret debtors’ age analysis
  • analyze and interpret bank statements and bank reconciliation statements.

Integration of ethical issues relating to cash, debtors and creditors: payment periods, interest, credit ratings, fraud, etc.

Integrate internal audit and internal control issues relating to cash, debtors and creditors

Reconciliation of bank statements with cash journals in order to prepare bank reconciliation statements:

  • outstanding deposits
  • cheques not yet presented for payment
  • stop/debit orders
  • direct transfers
  • bank charges
  • interest received or charged
  • correction of errors or omissions
  • cheques R/D or cancelled
  • post-dated cheques received/issued.

Reconciliation of statements received from creditors with accounts in Creditors’ Ledger of a business in order to prepare creditors’ reconciliation statements:

  • outstanding invoices or credit notes
  • outstanding payments
  • discounts not recorded
  • correction of errors or omissions.

Integration of issues of internal control

Integration of ethical issues

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