Bank Transactions and Reconciliation

Contents & notes: what this topic covers

Under Bank Transactions and Reconciliation, the JAMB Principles of Accounts syllabus expects you to study:

• 5. Bank Transactions and Reconciliation Statements a. Instrument of bank transactions b. e-banking system c. Causes of discrepancies between cash book and bank statement d. Bank reconciliation statement e. Adjusted cash book

Study notes & guidance

Study Bank Transactions and Reconciliation using a recommended Principles of Accounts textbook that follows the JAMB syllabus. Work through the contents listed above one by one, make brief notes in your own words, and then practise as many questions on this topic as you can — in Principles of Accounts, understanding and steady practice matter far more than memorising. Use the objectives below as a checklist: if you can do each one confidently, you have mastered this topic.

Objectives — candidates should be able to

After studying Bank Transactions and Reconciliation, you should be able to:

1. Identify various instruments of bank transactions such as cheques, pay-in-slips, credit cards, debit cards, internet banking and their uses;
2. Assess the impact of automated credit system, credit transfers, interbank transfers and direct debit on cash balances;
3. Identify factors that cause discrepancies between cash book balance and bank statement; and
4. Determine adjusted cash book balance.

These objectives are from the official JAMB syllabus. Use them as a checklist — if you can do each one confidently, you have mastered this topic.

Source: official JAMB UTME Principles of Accounts syllabus (IBASS, jamb.gov.ng). Reproduced for study use. Last checked: 17 Sept 2026. Always confirm the current syllabus on the official portal.