1.Outline and describe three (3) types of accounts that should be reconciled on a monthly basis. Why is this so important to do this prior to the production of accounts or BAS?

Describe and outline, in your own words, the key steps involved in preparing a bank reconciliation in accordance with organisational and industry procedures.

Identify two (2) key features for each routine financial report listed below.

Trial Balances

Bank Reconciliation Reports

Interim reports such as Aged Accounts Receivable Report