Thursday, November 21, 2019
12:00 – 1:30 pm (Eastern Time)
11:00 – 12:30 pm (Central Time)
10:00 – 11:30 am (Mountain Time)
9:00 – 10:30 am (Pacific Time)
This is 3-part Accounting Webinar Bootcamp designed to give anyone involved in management of a financial services institution (bank or credit union) the essentials of financial institutional accounting and financial statements. A series designed not only for persons in the accounting and finance areas, but also as a refresher for seasoned managers and supervisors who need a working knowledge of the aspects and elements unique to financial services accounting.
Accounting 301: In-Depth Financial Statement Elements (Assets, Liabilities, Income, Equity)
This final part is a natural, logical follow up to Bootcamp Part 2. Part 3 covers the details behind the financial statement items presented in Part 2. It uses illustrations of the Part 2 financial statements and detailed explanations to explain 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)
- Investments (HTM, AFS and Trading Securities)
- Investments Purchased at Discount or Premium
- Security Gains and Losses – Realized and Unrealized
- Loans and Loan Accounting Issues
- Overview of Loan Reserve Activity
- Accrued Interest Receivable
- Other Assets
- Deposits – Demand and Time
- Official Checks
- Fed Funds Purchased and Securities Sold Under Agreement to Re-Purchase
- Accrued Interest Payable
- Other Liabilities
- Equity Accounts
- Income Statement Items
Newcomers to GAAP financial statements for depository institution will take away a wealth of knowledge relating to depository accounting. Experienced banking personnel (accounting, finance, treasury and others) will be provided with a valuable update and refresher.
Part 3 and the other 2 parts will give the attendees a solid foundation for dealing with GAAP financial statements and the unique portions related to depository institutions.
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.
1.5 CPE Credits