It started like an ordinary Thursday, I came early , we started our first class that day, IIND. But a few hours after the start of our class my classmates start noticing something outside, at first we thought that its only the sand from the field, because usually when the wind blows dusts, sands etc are always blown with it. But it is not an ordinary mini "sand storm", it is a real smoke. The smoke becomes larger and larger. We finally realize that there is fire near our building,as we open the window it gets really hot and the smoke that's getting in is really suffocating. After some minutes they declare that there is fire near our building(I do not know where it is). So we are commanded that we should get out of the building immediately. Minutes after all of us are outside the building. We are beginning to form conclusions that there will be no classes. But our hopes have shattered when it is announced that the classes will resume at 5:00 PM,that only means one thing, that there will be math. There is one thing that I'm sure about: Nothing can ever stop math, even fire.


Enough of the fire, lets talk about math. What a relief that there will be no quizzes, it means that i will not be to nervous to the point that I can't listen well to our topic. This Thursday our topic is all about bank reconciliation. Bank reconciliation,what in the world is that!? According to my professor it about

Bank Reconciliation is the process of bringing the bank's monthly report for each depositor showing deposits made, check written, cancelled checks, and service charges. The next thing he mentioned is Reconciliation statement which also had put a big question mark on my face, after giving the information i have learned that Reconciliation statement putting an agreement the bank statement balance and the checkbook balance.

The differences in the balances may be due to:

1. Outstanding checks. These are checks issued by the depositor but have not yet been presented to the bank for payment.

2. Deposits in transit. These are deposits made but late to be included in the monthly bank statement.

3. Service charges.

4. Errors in the check stub entries.

5. Cancelled checks. These are checks that have been paid by the bank.

Speaking of checks I have remembered a movie called blank check . Blank checks are very dangerous , because the check is already signed anyone can write any amount they want and en cash it. Having checks is have its own advantages and disadvantages. So you should be responsible enough to handle a check,and avoid giving blank checks. In case you haven't seen a check this is what it looks like :

Parts of a check based on a UK example

1. drawee, the financial institution where the cheque can be presented for payment
2. payee
3. date of issue
4. amount of currency
5. drawer, the person or entity making the check
6. signature of drawer
7. Machine readable routing and account information

But the main parts of a check are(they should always be present):

Drawer, the person or entity who makes the cheque

Payee, the recipient of the money

Drawee, the bank or other financial institution where the cheque can be presented for payment

Amount, the currency amount

I hope that this will help you a lot , i also hope that you will be a responsible person who will take care of you valuable checks.