BRS stands for Bank Reconciliation Statement. BRS is a financial statement that compares the bank's records with the company's records of cash transactions. It helps identify any discrepancies or errors in the bank account or cash book. The statement includes details of deposits, withdrawals, bank charges, and outstanding checks. By reconciling the two sets of records, BRS ensures the accuracy of the company's financial transactions. Example: If the company's cash book shows a balance of $10,000, but the bank statement shows a balance of $9,800, the BRS helps identify the cause of the $200 difference.

Bharat Financial Inclusion Interview Questions: What is BRS

Asked inBharat Financial Inclusion,Internal Audit Assistant

What is BRS

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BRS stands for Bank Reconciliation Statement.

BRS is a financial statement that compares the bank's records with the company's records of cash transactions.
It helps identify any discrepancies or errors...read more

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