This 4-part series will be held August 5, 12, 19, and 26, 2022.
This learning experience is designed for bankers, accountants, and auditors new to banking or 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 to include a discussion of double-entry accounting, the general ledger, and the flow of accounting transaction activity into a balance sheet and income statement.
- The impact of debits and credits posted to the major categories of assets, liabilities, equity, income, and expense.
- 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 a major asset, liability, equity, income, and expense items will play a significant role in the learning experience.
- Discussions related to basic and important internal controls with a description of why controls are important to the overall accounting and financial reporting process of the institution.
- The basic concept of consolidation accounting with sample eliminating entries will be provided.
- Take-away accounting exercises will be provided to participants after each session.
- The presentation materials and the extensive exhibit takeaways provide a future reference source to all participants on the accounting topics covered.
- Bank Accounting for Beginners - Part 1
- Bank Accounting for Beginners - Part 2
- Bank Accounting for Beginners - Part 3
- Bank Accounting for Beginners - Part 4
Who Should Attend
The learning experience is designed for those who are new to bank accounting, bank auditing or those who are looking for a refresher on the accounting practices and basic components of the balance sheet and income statement of a financial institution. Time should be allowed for post-session follow up work on accounting exercises provided as part of the learning experience. The presentation information and extensive exhibit take-aways contribute significantly to the learning experience and provide a source for future refence on the accounting topics covered.