Bank Accounting for Beginners - Part 1

This 3-part series will be held July 31, August 4, and August 6, 2020. You can register for the series HERE.

Designed for bankers new to the accounting department and those seeking a refresher course on the basic accounting concepts targeted for the activities of a financial institution. This series will cover:

  • General application of accounting practices for the major categories of assets, liabilities, equity, income, and expense. A sample balance sheet and income statement will be discussed.
  • An overview of the Accounting Standards Codification (ASC) and the concept of Generally Accepted Accounting Principles in the United States (U.S. GAAP) and the role of the Financial Accounting Standards Board (FASB).
  • Examples and exercises to illustrate accounting transactions for major asset, liability, equity, income, and expense items will play a significant role in the learning experience.
  • Beginners discussion on the principles of consolidation with examples and sample consolidating schedule.
  • Discussions related to basic and important internal controls with description of why controls are important to the overall accounting and financial reporting process of the institution.

Covered Topics

The webinar series will generally cover all major asset, liability, equity, income, and expense line items in a financial institution’s basic balance sheet and income statement.

July 31, 2020 Series Part 1: The first webinar will explain general accounting practices to include a discussion of U.S GAAP, which covers the major components of a financial institution’s balance sheet and income statement. This part will also take a deeper look at the major asset categories and the associated income and expenses that flow to the income statement. Accounting entry examples and exercises will be provided.

August 4, 2020 Series Part 2: The second webinar will focus on a financial institution’s common liabilities, to include deposits and borrowings, with the associated expenses that flow to the income statement. This part will also look at the practice of accruing for expenditures and other liabilities. Accounting entry examples and exercises will be provided.

August 6, 2020 Series Part 3: The third webinar will focus on the equity section of an institution’s balance sheet, to include the basic concept of common equity instruments and the roll forward of the current year’s net income or net losses into the equity equation. Accounting entry examples and exercises will be provided. The basic concepts of consolidation accounting will also be discussed in this last part of the series.

Who Should Attend?

This course is designed for those who are new to bank accounting or those who are looking for a refresher on the basic components of the financial statements of a financial institution.