Banks and other financial institutions have unique and sometimes complex transactions that follow special accounting rules not applicable to other companies. Furthermore, the entire industry has been subject to increased regulatory scrutiny in recent years.
This one-day seminar offered via Executive Education, designed for financial executives, managers and others responsible for accounting and reporting by banks and other financial institutions, provides an in-depth update of recent developments impacting the financial services industry as a result of recent standard setter and regulatory activities. Through the use of class exercises and illustrative examples, these developments are not only “presented”, but also “discussed” to emphasize the impact on these unique entities.
6/23/2017 New York
Venue and Hotel Details
Although the course is updated as developments occur, topics are expected to include:
- Refresher questions based on recent banking industry "hot topics" including:
- A series of scenario-driven discussion questions highlighting existing accounting and reporting requirements related to recent issues brought about by
regulatory focus and/or economic developments – specific to the banking industry
- Standards generally effective in 2017 including:
- Classification of deferred taxes
- Equity method of accounting
- Share-based payments
- Contingent options in debt instrument
- Novation of derivatives in hedging relationships
- Financial instruments
- Reminder of new requirements and application issues surrounding classification and measurement
- Credit losses under the CECL model and related impairment recognition
- Hedging latest developments
- Reminder of new dual model for lease accounting for lessees
- Application and implementation issues
- Revenue from contracts with customers
- Reminder of 5-step model and changes from current practice
- Recent practice issues related to banks and other financial institutions
- Other ASUs and FASB projects generally effective in 2018 and beyond
- Accounting and reporting “hot topics” as noted by regulators:
- Trends in restatements, enforcement actions, and comment letters
- Common SEC consultation issues related to banks and other financial institutions
- SEC/PCAOB examination priorities and areas of expected focus
Level of Knowledge:
Field of Study:
Group Live, Instructor-Led Course
GAAP Dynamics, a training firm that provides tailored and engaging learning solutions to companies and accounting firms worldwide. Their passion for making accounting understandable and their extensive industry knowledge combine to create a uniquely effective learning experience. They make accounting fun!
* Discounts cannot be combined and must be applied at time of initial registration.
** Tuition price includes daily breakfast, lunch, and morning and afternoon refreshments.