Bank Reconciliation Demystified in 10 Minutes | For Accountancy Students | ACCA FA

Learn how to perform a bank reconciliation in 10 minutes. This is a tricky topic for many ACCA FA accountancy students in this video I'll break the topic down for you with and easy to understand example, demonstrating the timing differences, how to update the cash book, and how to prepare a bank reconciliation statement. Bank reconciliation made easy!

00:00 - Introduction
01:02 - Opening a checking account
01:55 - Recording transactions by check
04:08 - Timing difference: uncleared lodgement
04:58 - Unrecorded Bank Fee
05:45 - Overdrawn account: negative balance
06:18 - Returned check fee
07:19 - Bank reconciliation
07:39 - Step 1: update the cash book
08:12 - Closing the account
09:02 - Bank Reconciliation Statement

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Steve Willis ACCA
How to Pass the ACCA FA exam