reconciliation

n.

1. The act of reconciling.
2. The condition of being reconciled.
3. See penance (sense 2).

[Middle English reconsiliacion, from Old French reconciliation, from Latin reconciliātiō, reconciliātiōn-, from reconciliātus, past participle of reconciliāre, to reconcile. See reconcile.]

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 that the two values are balanced at the end of the recording period.

Investopedia Says:
At the end of every month it is a good idea to reconcile your checkbook by comparing your receipts with your bank statement. Among other advantages, this type of account reconciliation makes it possible to determine whether money is being fraudulently withdrawn from an account.

Related Links:
These income statement red flags may not spell a company's downfall. Learn why here. The One-Time Expense Warning
Learn what it means to do your homework on a company's performance and reporting practices before investing. Advanced Financial Statement Analysis
This article defines some typical off-balance-sheet items and discusses when they are justified and when they are misleading. Off-Balance-Sheet Entities: The Good, The Bad And The Ugly
"One-time charges" and "investment gains" are two strategies companies can use to distort their numbers. Detecting Two Tricks Of The Trade

In Appraisal the process of considering values from the applicable approaches to provide a final estimate of the value of the subject being appraised.
Example: An Appraiser arrives at the market value estimates shown in Table 44 following application of the 3 traditional approaches.

Table 44 Reconciliation

Market comparison: $185,000

Cost approach: $189,000

Income approach: $184,000

In reconciliation, the appraiser considers the appropriateness of each approach to the subject, the quality of available data, and the amount of judgmental Adjustment required to reach each estimate. Following this review, the appraiser settles on an estimate of $185,000 as her opinion of Market Value.

Adjusting the difference between two items (i.e., amounts, balances, accounts, or statements) so that the figures agree. The practitioner often has to analyze the deviation between two items, such as in preparing a Bank Reconciliation. For example, a reconciliation occurs when comparing the home office books account related to branch transactions with the corresponding account on the branch office books related to home office transactions. These two accounts are adjusted for the reconciling items causing the difference.

noun

A reestablishment of friendship or harmony: conciliation, rapprochement, reconcilement. See love/hatred.

n

Definition: harmonizing
Antonyms: incompatibility

n

Definition: restoration of friendly relations
Antonyms: feud

n

Definition: reuniting
Antonyms: alienation, estrangement

---

This entry contains information applicable to United States law only.

The restoration of peaceful or amicable relations between two individuals who were previously in conflict with one another.

Reconciliation ordinarily implies forgiveness for injuries on either or both sides. The term is often applied to the parties to a divorce who cease proceedings for the dissolution of their marriage upon a resolution of their differences. Reconciliation is used interchangeably with conciliation.

A cynical view of the world by Ambrose Bierce

n.

A suspension of hostilities. An armed truce for the purpose of digging up the dead.

---

This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

Common misspelling(s) of reconciliation

• reconcilation

Dansk (Danish)
n. - forsoning, forlig, bilæggelse, harmoni

Nederlands (Dutch)
verzoening, biecht

Français (French)
n. - réconciliation, conciliation

Deutsch (German)
n. - Versöhnung, Beilegung

Ελληνική (Greek)
n. - συνδιαλλαγή, συμφιλίωση, συμβιβασμός

Italiano (Italian)
riconciliazione

Português (Portuguese)
n. - reconciliação (f), composição (f) (de disputas)

Русский (Russian)
примирение

Español (Spanish)
n. - reconciliación, conciliación

Svenska (Swedish)
n. - försoning

中文（简体）(Chinese (Simplified))
和解, 顺从, 调和

中文（繁體）(Chinese (Traditional))
n. - 和解, 順從, 調和

한국어 (Korean)
n. - 화해, 조화, 일치

日本語 (Japanese)
n. - 和解, 仲直り, 調停, 調和, 諦め

العربيه (Arabic)
‏(الاسم) مصالحه, تسويه‏

עברית (Hebrew)
n. - ‮פיוס‬

If you are unable to view some languages clearly, click here.

To select your translation preferences click here.