WHO SHOULD ATTEND? 

The learning experience is designed for those who are new to accounting, auditing, 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. The presentation information and extensive exhibit take-aways contribute significantly to the learning experience and provide a source for future refence on the accounting topics covered.

WHAT YOU WILL LEARN 

• 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

• Discussions related to basic and important internal controls with description of why controls are important to the overall accounting and financial reporting process of the institution

• The basic concept of consolidation accounting with sample eliminating entries will be provided

• Take-away accounting exercises will be provided to participants after each session

• The presentation materials and the extensive exhibit take-aways provide a future reference source to all participants on the accounting topics covered