... Company B that doesn't do so. If the cheques drawn that have been sent to payee and entered into cash book but which have not been presented to our bank for payment and thus do not appear on the bank statement at the end of the accounting period. In this case, Company A will be able to detect this problem when preparing bank reconciliation while Company B will not know what is going wrong on the accounts although the balance sheet has shown the unbalance situation. Other than that, if the money in the company was stolen, the company will not notice it if there is no any reconciliation is taken place. Bank reconciliation will help the company to detect any shortage of money in the company. (ii) Maintaining comprehensive manuals that show detailed steps of all the accounting procedures. Maintaining the comprehensive manual that shows the detailed steps of accounting procedures ...

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