BCU Webinars Webinar

Bank Accounting: Beyond the Basics - 5 Part Series

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SKU 70BWUS245050E

What You'll Learn

  • An overview of the Accounting Standards Codification (ASC), the concept of Generally Accepted Accounting Principles in the United States (U.S. GAAP) and the role of the Financial Accounting Standards Board (FASB)
  • An overview of the implementation timelines for new accounting standards impacting the industry
  • An introduction to the concept of audit assertions that are applied to the audit of a financial institution’s financial statements
  • The concept of “internal controls over financial reporting” and the meaning of “lines of defense” in internal controls
  • Exercises and exhibits illustrating common bank “risks and controls”
  • Exhibits illustrating a sample consolidating schedule and the concept of distributing vs non-distributing transfers up to the holding company will be provided
  • A sample reconciliation of book net income to taxable income will be provided
  • Illustrations on booking, amortizing, and the tax effects on goodwill and core deposit intangibles resulting from a business combination will be provided

Who Should Attend

This course is designed for bankers seeking an understanding of accounting for more complex bank transactions as required under U.S. GAAP, along with the concepts behind audit assertions, internal controls over financial reporting, consolidating statements and the statement of cash flows. All topics will be specific to the activities of a financial institution.