2017 - Unique Bank Accounting GAAP Issues

Overview
Attendees will:
Understand the way accounting “rules” are made by the FASB in the private sector
Focus on recent accounting trends that emphasize:
Balance sheet over income statement
Current values over historical costs
Full disclosure over detailed schedules
Focus on the general principles underlining GAAP “rules”
Appreciate unique peculiarities of bank accounting
Comprehend the intricacies of bank financial statements
Master the complete set of financial statements and related schedules and reports
This bank compliance session introduces and explains how bank accounting “rules” are made in the US.
It also includes discussions of recent accounting trends such as:
Emphasis on balance sheet in place of emphasis on the income statement
Movement toward more use of current values in financial statements
Emphasis on disclosure of business risks (both recorded and off-balance sheet)
Additionally, the following underlying accounting concepts are covered to help accountants and others understand the general principles covered by the authoritative accounting literature.
Entity Concept
Going Concern Concept
Stable Monetary Unit Concept (Historical Cost)
Consistency/Comparability
Revenue Realization/Recognition
Doctrine of Conservatism
Matching/Materiality
Asset Valuation
Fair Presentation/Full Disclosure
Certain unique accounting peculiarities (i.e. daily balances, single-entry bookkeeping, non-refundable fees, OREO, loan loss reserves etc.) will be reviewed along with coverage about the typical bank GAAP balance sheet and income statement and the other information that “travels” with those GAAP financial statements. Also, briefly covered are the:
Importance of the Footnotes to GAAP Financial Statements
Auditor’s Report on Financial Statements
Other “Supplemental” Financial Statement Data
MD&A (Management Discussion & Analysis)
Typical Ratios (liquidity, turnover, leverage and profitability) used by bank financial statement analysts
This Bank Accounting and GAAP Financial Statements session is essential for all bank management personnel.
Why Should You Attend
Attendees should attend to learn the basics underlying GAAP accounting for bank financial statements. The webinar will:
Erase the fear and apprehension that often accompanies the uniqueness of bank accounting
Pinpoint and facilitate the understanding of the unique GAAPs
Classify any uncertainty with respect to how bank’s record, classify and interpret financial transactions in GAAP financial statement format
Analyze the financial statements, footnotes, and the accompanying information
Allow attendees to master the GAAP financial statement requirements for banks
Eliminate the common misconception that bank accounting is “difficult”
Learn about the presentation of bank financial statements, particularly the income statement and the statement of cash flows
Enhance your abilities to analyze and use bank financial statements
Grasp the “so-called” unique aspects of bank accounting so the financial statements can be used as an analytical tool for reviewing the banks financial position and its results of operations
Further broaden your analytical skills with respect to financial statements
Learn why and how bank accounting is formulated
Understand the importance of footnotes
Compare and contrast the meaning of various ratios with the financial statement reported dollar amounts
Learn what is the typical content of the “other supplemental data”
Distinguish between the various types of audit reports that can be issued
Areas Covered in this Webinar
The webinar will cover areas designed to help attendees:
Obtain an overview of Generally Accepted Accounting Principle (GAAP), including the public sector rule making mechanism, the current accounting trends and the FASB’s conceptual framework
Understand unique banking features such as:
Daily balancing and posting of transactions to the trial balances
Single entry bookkeeping
Continuous departmental accounting (due to; due from)
The “proof” function
Separate ledgers and memo
Review a listing of various unique bank accounting issues
Focus on detail accounting for investments in debt, and equity securities
Master GAAP financials and related footnotes
Analyze other information that “travels” with the GAAP financial statements including:
Auditor’s report
Management report on internal control over financial reporting
Supplemental data
M,D&A
Comprehend the importance placed on the balance sheet activity as opposed to income statement matters
Distinguish between permanent impairment and other than temporary impairment (OTTI)
Understand why accounts normally with debit balances wind up with credit balances
Understand why accounts normally with credit balances wind up with debit balances
Understand the key words in the audit report and other reports
Comprehend the need for clear language in the M,D&A and contrast the M,D&A coverage with the financial statement information
Learning Objectives
Learn GAAP rule making mechanism
Understand various unique accounting issues
Analyze journal entries and GAAP disclosures for accounting for marketable securities
Analyze bank GAAP financial statements
Who Will Benefit
Financial professionals (controllers, treasurer, etc.)
Internal auditors
External auditors
New bank accountants
Veteran bank accountants seeking refresher
For more detail please click on this below link:
http://bit.ly/2tIxtlJ
Email: referrals-AT-complianceglobal.us
Toll Free: +1-844-746-4244
Tel: +1-516-900-5515
Fax: +1-516-900-5510