reconciliation: What is bank reconciliation, and why is it important for businesses to perform regular bank reconciliations? 2. What are the steps involved in reconciling a bank statement with a company's cash account? 3. What are some reasons why there might be differences between the balance shown on the bank statement and the balance shown in the company's cash account? 4. How does timing differences between when transactions are recorded by the bank and when they are recorded by the company impact the bank reconciliation process? 5. What is the purpose of a book reconciliation, and how does it differ from a bank reconciliation? 6. What are some common items that might appear on a bank reconciliation statement as reconciling items? 7. How does the occurrence of bounced checks or NSF (non-sufficient funds) checks affect the bank reconciliation process? 8. How can electronic payments, such as credit card transactions or online transfers, impact the bank reconciliation process? 9. What is the role of outstanding checks and deposits in transit in the bank reconciliation process? 10. How does the recording of interest earned or bank charges affect the bank reconciliation process? 11. What are some potential errors that could occur during the bank reconciliation process, and what steps can be taken to identify and rectify them? 12. How frequently should a company perform bank reconciliations, and what are the benefits of doing them on a regular basis?