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What does reconciliation mean?

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Question added by Alex Al Yazouri , General Manager , Al Mushref Cooperative Society
Date Posted: 2015/05/29
Alex Al Yazouri
by Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

DEFINITION of 'Reconciliation'

An accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate. Reconciliation is the key process used to determine whether the money leaving an account matches the amount spent, ensuring the two values are balanced at the end of the recording period.

Ali Mohamed Ahmed
by Ali Mohamed Ahmed , site engineering , شركة مقاولات

I support answer of Mr.Heavenly John  >>>>>>>>>>>>>>>Thanks

It is an accounting/business process used to compare two sets of records to ensure the figures are in agreement and are accurate.

Heavenly J John
by Heavenly J John , National Head - Aftersales for Ford , Saud Bahwan Group

If both can understand each other's peculiarities, respect the same like similarities, then there is a Reconciliation between people; product and profit

khaled elkholy
by khaled elkholy , HR MANAGER , misk for import & export

Reconciliation" is coming to an agreement over differences. Usually it refers to big disagreements rather than small ones (see the Truth and Reconciliation Commission in South Africa after Apartheid) and it usually refers to a long process rather than a quick one-time event.

Deleted user
by Deleted user

Reconciliation is when people make an agreement to forgive each other for what ever problems they have had in the past so they can move on with their relationship or business.

Elke Woofter
by Elke Woofter , Project Assistant , American Technical Associates

reconciliation [ ˌrekənˌsilēˈāSHən ]  NOUN
  1. the restoration of friendly relations: "his reconciliation with your uncle" synonyms: reuniting · reunion · bringing together (again) · conciliation ·  More
  2. the action of making one view or belief compatible with another: "he aims to bring about a reconciliation between art and technology"

Ahmed Mohamed Ayesh Sarkhi
by Ahmed Mohamed Ayesh Sarkhi , Shared Services Supervisor , Saudi Musheera Co. Ltd.

I'm Agree With Mr. Vinod Jetley  In His Answer

 

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

  1. the restoration of friendly relations."his reconciliation with your uncle"synonyms:reuniting, reunion, bringing (back) together (again), conciliation,reconcilement;pacification, appeasement, placating, propitiation, mollification"the reconciliation of the disputants"resolution, settlement, rectification;settling, resolving, mending, remedying"a reconciliation of their differences"restoration of friendly relations, restoration of harmony, agreement, compromise, understanding, peace, an end to hostilities, amity, concord;rapprochement, détente;informalfence-mending"there was little hope of reconciliation between the two groups"harmonizing, harmonization, synthesis, squaring, adjustment, balancing;raresyncretization"the reconciliation of scientific philosophy with clinical practice"antonyms:estrangement, alienation, feud, incompatibility
  2. the action of making one view or belief compatible with another."any possibility of reconciliation between such clearly opposed positions"

DAINA SAIMON-CMA US
by DAINA SAIMON-CMA US , Assistant Manager-Accounts , Zindagi Trust

Its a Comparison of two sets of records.Its a form of Internal Control.

Muhammad Adeel
by Muhammad Adeel , Sales And Marketing Executive , TANZEEM HEAVY EQUIPMENT RENTAL LLC

Reconciliation is the act of bringing people together to be friendly again or coming to an agreement.

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