2020-2021 Accounting for Financial Institutions: 101, 201, 301 ALL 3 CLASSES
Wednesday - Friday, Dec 2 - 4, 2020
12:00 – 1:30 pm (Eastern Time)
Accounting 101: Unique Depository Accounting Principles for Financial Institutions
Although there are a number of unique accounting issues for depository institutions this 3-part series focuses on the following four (4) topics.
- Accounting for Marketable Securities
- Accounting for Non-Refundable Loan Origination Fees and Costs
- Recording OREO on the Books and Removing OREO From the Books
- Off-Balance Sheet (OBS) Disclosures
Accounting 201: Illustrative Bank GAAP Financial Statements for Financial Institutions
Accounting 201 provides attendees with a concise overview of GAAP financial statements [Balance Sheets, Income Statements, Statements of Cash Flows, Statements of Changes in Stockholders’ Equity and Statements of Accumulated Other Comprehensive Income or Loss (AOCI) as well as the related notes to the GAAP financial statements].
It also displays the recently revised auditor’s report, (including the recently required “critical audit matters” section of the report), Other Supplemental Data, and Management’s Discussion and Analysis (MD&A).
Illustrative examples of the essential GAAP presentation data (Statements and notes) are explained. An overview of the Balance Sheet, Income Statement and notes provides attendees with an essential basic knowledge of typical GAAP financial statement display for all depository institutions.
This overview-type, “big picture” presentation is an excellent preview for Bootcamp Part 3, which focuses on the elements (captions) of the financial statements in detail. It also pinpoints in the financial statements and notes the accounting issues addressed in Part 1 of this 3-part series.
Accounting 301: In-Depth Financial Statement Elements (Assets, Liabilities, Income, Equity)
Bank Accounting 301 of this series is a natural, logical follow-up to Accounting 201.
Accounting 301 covers the details behind the financial statement items presented in the previous 201 material. It uses illustrations of the Accounting 201 financial statements and provides explanations of items such as:
- Composition of Cash and Due from Banks
- The Right of Setoff for Receivables and Payables
- Money Market Investments: Interest Bearing Deposits; Fed Funds Sold; Securities
- Purchased Under Agreement to Re-Sell (“Reverse Repos”)
- Investments (HTM, AFS and Trading Securities)
- Investments Purchased at Discounts or Premiums
- Security Gains and Losses – Realized and Unrealized
- Loans and Loan Accounting Issues
- Overview of Loan Reserve Activity (Allowance for Credit Losses)
- Property Plant Equipment (PP&E)
- Accrued Interest Receivable
- Other Assets
- Deposits – Demand and Time
- Official Checks
- Fed Funds Purchased and Securities Sold Under Agreement to Re-Purchase (“Repos”)
- Accrued Interest Payable
- Other Liabilities
- Equity Accounts
- Income Statement Items
Who Should Attend:
Newcomers to GAAP financial statements and related notes of depository institutions will take away a wealth of knowledge relating to depository institution accounting. Experienced banking personnel (accounting, finance, treasury, auditing, and others) will be provided with a valuable update and refresher.
Instructor
Paul Sanchez
PSA Professional Service Associates / Founder
Paul J. Sanchez, CPA, CBA, CFSA conducts a CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University – C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.
Attendance verification for CE credits provided upon request.
Webinar Sponsored by BankersHUB
If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.
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