Accounting Reconciliation
/əˈkaʊntɪŋ ˌrɛkənsɪliˈeɪʃən/
Definitions
- (n.) The process of comparing two sets of records, such as financial statements and ledger entries, to ensure accuracy and consistency, often used in legal and regulatory compliance contexts.
The company completed the accounting reconciliation to verify the accuracy of its financial reports before the audit.
Forms
- accounting reconciliations
Related terms
See also
Commentary
Accounting reconciliation is critical in legal settings for validating financial data accuracy and supporting regulatory compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.