Unique bank accounting GAAP issues

Introduction

Bank accounting is unlike accounting for other industries. Bank accounting has unique nuances and intricacies for accounting for non-refundable fees and costs, loan impairments, troubled debt restructurings, fair value accounting, off-balance sheet disclosures etc.

Why should you attend?

• You should attend to obtain a solid knowledge of various unique GAAP issues. Particular information you will absorb includes unique accounting issues related to marketable securities, OREO and loan loss reserve accounting.
• You should attend to stay as current as possible about the unique GAAP issues.

Learning Objectives

• What are some of the many unique bank GAAP accounting issues
• How is OREO properly put on the books and how is OREO properly taken off the books
• How are bank purchases and sales of marketable securities recorded
• What are the differences between:
• Held-to-maturity securities (HTM)
• Trading securities
• Available-for-sale securities (AFS)
• What is mark-to-market accounting; how does it work
• What is proper GAAP accounting for transfers from investment bucket to investment bucket
• What are illustrations of proper presentation of securities on the GAAP financial statements
• What is the purpose of the new CECL arrangement for determining the ALLL
• Areas covered in the Webinar
• Review of various unique bank GAAPS
• Accounting for marketable securities – balance sheet approach
• Accounting for foreclosures on day 1
• Accounting for OREO subsequent to day 1
• Accounting for loan & lease losses – incurred loss method
• Accounting for loan & lease losses – current expected credit loss method
• Transition accounting to CECL

Who Will Benefit?

• Accountants – staff
• New hires on accounting staff
• Intermediate level accountants
• Controllers
• Financial analysts
• Auditors (internal and external)
• Audit committee members
• Treasurers
• Board audit committee “financial expert” member

Speaker :  Paul J. Sanchez
Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small 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. He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination. He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, “Accounting Basics for Community Financial Institutions” (Financial Managers Society, 2nd edition, Chicago, 2009) and the “Ideas an Analysis Letter: The Sanchez Take” (see www.sanchez-psa.com). As a contributing author, his chapter on ‘An Auditor’s Approach to Risk-Based Auditing: What to Audit and When,’ is included in the textbook, “Effective Auditing for Corporates: Key Developments in Practice and Procedures,” (Bloomsbury Information, Ltd, London, 2012).

Others Details

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