Aim of Bank Reconciliation
You will research and construct a thorough preparation outline for a speech you will deliver in Lesson 6. The eventual video-recorded speech will be 6:00-8:00 in length, and will be delivered extemporaneously, so design your outline accordingly. (Depending on how it’s written, this might result in 2-3 pages of single-spaced outline.)
For this Lesson 5 Speech Outline Assignment, you should submit a finished, complete version of your preparation outline. While it's a draft--you'll revise the outline after some peer feedback and submit it in Lesson 6--it should be a full and complete outline, as explained in the lesson. (Note that you'll never write out a full script for this speech assignment; see the Lesson 5 for an overview of expectations, and see Lesson 6 for more moving from your preparation outline to extemporaneous delivery.)
Content: The preparation outline should explore the significance of a root cause of the group's selected issue. Put another way, your overall goal is to help the group understand the complexity of the issue and why it’s difficult to solve. This should be informative, rather than persuasive, and it should only focus on the root cause; it should not discuss or propose solution ideas.
Support: This exploration should be supported by research from at least 6 high quality sources, including expert testimony. (High quality means: reputable news and editorial sources, government sources, nonprofit organizations, and academic (peer-reviewed) articles or books.) All your sources should be cited on the outline and on a works cited list, and will eventually be cited aloud in the speech when it is delivered. (To help your peer reviewers and instructor find your sources quickly, please place them in bold.) Arguments about the significance of the root cause should be easily discernible and should be supported via well developed evidence and warrants (reasoning).
Arrangement: The speech should be written in outline format, as explained in this lesson. Building off the template within the lesson will help ensure your speech remains organized and appropriately formatted.
You will receive peer feedback on the content of your preparation outline, including the evidence and reasoning selected. For this first draft of the speech, your instructor will only be evaluating the mechanical features of speech design; they won’t evaluate the quality of the content until you revise and present the speech.
Evaluation Checklist for Preparation Outline
Formats the outline with proper labeling and indentation. (See L05 Preparation Outline Template for specific guidance.)
Includes the four components of an introduction, in the appropriate order.
Includes clear main points, with complete transitions between them.
Includes a clear conclusion.
Is complete, sufficient for at least a 6:00 speech (i.e., it's not merely a rough draft)
Is explained thoroughly enough that a peer reviewer can follow the argument. (i.e., more or less complete sentences, or at least clear long phrases)
Cites at least 6 quality sources within the prose of the outline, for eventual oral citation when delivered; format them in bold to aid your peers and you instructor in quickly finding them. These are drawn from a mix of reputable news and editorial sources, government sources, nonprofit organizations, and academic (peer-reviewed) articles or books. Additional sources may be used, but they don’t count toward the minimum of 6 sources.
Cites all sources parenthetically in the outline, again in bold to help others quickly find them. These sources should also appear in a correctly formatted works cited list in MLA or APA format.
Submit your completed outline and works cited list by the date listed on the Calendar (about 3/4 of the way through the lesson).
Once you've submitted the outline and works cited list, remember that you'll also need to post it to the L05 Peer Feedback Assignment so group members can review it.
Please review the rubric below prior to completing the assignment so you are aware of the grading criteria.
Aim of Bank Reconciliation
Name
Affiliation
Course
Tutor
Introduction
* Hook
* Bank reconciliation is the process of comparing a company’s internal records of transactions to the monthly statement provided by the bank. The idea entails verification all transactions to identify any differences that might more investigation (Pritchard & Drury, 2020). All the transactions on the debit side should balance with the credit side issued by the bank.
* According to Ahmed (2016), the transactions recorded on the credit side company’s ledger should match the provisions on the banks debit side. The process of identification in this part allows organizations to monitor and identify all the performed transactions, paving the way for reconciliation. Bragg (2020) claims that bank reconciliation is an important tool to compare organization’s records to those issued by the bank to identify any differences between the two records of cash transactions.
* Relevance
* Bank reconciliation yields tow variables; book balance which is the ending balance on the company’s version of cash records, and bank balance, the banks version (Bragg, 2020). The versions lead to realization of the common differences that could eventually not be noted, giving organizations the chance to track them from the book balance to avoid variances in the amount of cash the company may perceive to have and the actual amount the bank claims its regard.
* Thesis: The primary aims of conducting bank reconciliation is to detect any differences between the accounting records of an organization and the bank, detect fraud, limit financial losses and enhance update with developed technology in business management, in a process limited to standard timing differences.
* I will cover the detection of differences and fraud in entities to illustrate bank reconciliation. I will also look into the impact of advanced technology on the process, especially for the companies lagged.
* Body
1 Detection of differences between the cash records of the entity and the bank
* It is likely for the book balance and the bank balance to have variations. Bragg (2020) reveals that the differences could originate from overdrawn bank accounts, bounced checks, and overdraft fees. Thus, it is essential to carry out bank reconciliation for the identification of such issues to avoid severe consequences such as the bank voting to shut down the entity’s bank account.
* The variations could also be originating from insufficiencies the company can only identify in the bank reconciliation process (Pritchard & Drury, 2020).
* However, the differences could also be originating from an error on the part of the bank, and can only be rectified upon realization.
2 Fraud detection in the transaction processes
* Bank reconciliation aid in identifying issues such as any customer bounced checks, or any checks that were issued and altered in the transfer process or even cashed without the entity’s knowledge, showing that the process is critical in fraud dete...
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