Balance sheet reconciliation is the practice of examining and analyzing the figures in different accounts presented on a company’s balance sheet. The purpose is to confirm the accuracy of these balances and ensure they provide an authentic representation of the company’s financial status. Through this process, any inconsistencies or errors between the company’s financial records and the actual financial data can be identified and resolved. The primary objective of balance sheet reconciliation is to uphold the precision and reliability of the company’s financial statements.
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