Brs is a term that is commonly used in various fields, including finance, accounting, and business. It is an abbreviation that is often used to refer to different concepts, and its meaning can vary depending on the context. In this article, we will explore the definition and meaning of brs, its origin, associations, synonyms, antonyms, and examples of its usage.
Definitions
Brs stands for Bank Reconciliation Statement. It is a statement that is prepared by a company or an individual to reconcile the bank balance as per the bank statement with the balance as per the company’s accounting records. The purpose of preparing a BRS is to identify any discrepancies between the two balances and to make necessary adjustments.
In the field of finance, brs stands for Basic Rate Setters. It is a group of individuals who are responsible for setting the basic interest rates for financial institutions.
Origin
The origin of brs is not clear, but it is believed to have originated in the field of accounting. The term was first used to refer to the process of reconciling the bank balance with the accounting records of a company.
Meaning in different dictionaries
The meaning of brs in different dictionaries can vary depending on the context. In the Oxford English Dictionary, brs stands for Basic Rate Setters. In the Merriam-Webster Dictionary, it stands for Bank Reconciliation Statement.
Associations
Brs is associated with the fields of finance, accounting, and business. It is also associated with the process of reconciling the bank balance with the accounting records of a company.
Synonyms
The synonyms of brs include Bank Reconciliation Statement, Bank Statement Reconciliation, and Bank Balance Reconciliation.
Antonyms
There are no antonyms of brs as it is an abbreviation that is used to refer to different concepts.
The same root words
There are no root words associated with brs as it is an abbreviation.
Example Sentences
- The accountant prepared a BRS to reconcile the bank balance with the accounting records.
- The Basic Rate Setters decided to keep the interest rates unchanged.
- We need to reconcile the bank statement with our accounting records by preparing a BRS.