What is accounting and what do you mean by BRS

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Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions. BRS stands for Bank Reconciliation Statement.

Accounting involves keeping track of financial transactions, preparing financial statements, and analyzing financial information to help businesses make informed decisions.
BRS is a statement that compares the bank balance as per the bank statement with the balance as per the company's books of accounts.
BRS helps in identifying any discrepancies between the two balances and reconciling them to ensure accurate financial reporting.
For example, if a company's bank statement shows a balance of $10,000, but the company's books show a balance of $9,500, the BRS will help identify the $500 difference and reconcile it.

What is accounting and what do you mean by BRS

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