bank-statement

Vocabulary Word

Definition

'Bank statement' is a record from your bank, which lists all transactions you made during a certain period, usually a month. It's proof of your income and expenses.

Examples in Different Contexts

Bank statements are crucial for financial planning, providing a detailed record of income and expenses. A financial planner might advise, 'Using your bank statement, we can create a budget that reflects your actual spending habits.'

Practice Scenarios

Operations

Scenario:

Our team needs to be more discerning about operational costs to keep our budget balanced.

Response:

Yes, let's use the bank statements of our company accounts to pinpoint areas we can save.

Business

Scenario:

We need to analyze our cash outflows carefully to better understand our spending patterns.

Response:

Reviewing our bank statements should provide a clear insight into our spending patterns.