BMGT 220 Lecture Notes - Lecture 9: Electronic Funds Transfer, Petty Cash, Bank Reconciliation
16 May 2016
School
Department
Course
Professor
Document Summary
March 28th, 2016: add to bank balance, subtract from bank balance, add to book balance, subtract from book balance. Bank reconciliation: the process of comparing the bank"s balance of an account with the company"s balance and explaining any differences to make them agree. Bank service charge: a fee charged by a bank for the use of its services. Bank statement: a monthly statement from the bank that shows the depositor"s bank transactions and balances. Bonding: obtaining insurance protection against misappropriation of assets by employees. Cash: resources that consist of coins, currency, checks, money orders, and money on hand or on deposit in a bank or similar depository. Cash equivalents: short-term, highly liquid investments that can be converted to a specific amount of cash. Check: a written order signed by a bank depositor, directing the bank to pay a specified sum of money to a designated recipient.
