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 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 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 a description of why controls are important to the overall accounting and financial reporting process of the institution.
• Take-away exercises will be provided to participants after each session.

Areas Covered:-

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.

September 1, 2022 Series Part 1: The first webinar will explain general accounting practices including a discussion of double-entry accounting, the general ledger, and U.S GAAP. This part will also focus on the major interest-bearing asset categories including cash, investment securities, and loans, and the associated income and expenses that flow to the income statement. Accounting entry examples and exercises will be provided.

September 2, 2022 Series Part 2: The second webinar will focus on non-interest bearing assets including premises and equipment, and other real estate owned and prepaid expenses, to include the associated expenses that flow to the income statement. This part will also look at the practice of accruing for future expenditures and other liabilities, including a discussion on official checks and the associated debits and credits that keep the bank’s official checks in balance. Accounting entry examples and exercises will be provided.

September 5, 2022 Series Part 3: The third webinar will focus on interest-bearing liabilities, including deposits, borrowings, and debt, and the associated interest expenses that flow to the income statement. The capitalization of interest payable on deposit accounts and the handling of debt issuance costs will also be discussed. Accounting entry examples and exercises will be provided.

September 6, 2022 Series Part 4: The fourth 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:-

The course is designed for those who are new to bank accounting 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.