Accounting Basics: Refresher for Bankers

• Overview
• Credits

Get a full refresher course on accounting for banking professionals.This topic will provide you with the basics/refresher of accounting. The information will demonstrate how the income statement, statement of owner's equity, balance sheet, and statement of cash flows are developed and connect to each other, and cover the ten step accounting cycle leading up to the creation of the financial statements including the rules of debits and credits, accrual versus cash basis accounting, adjusting entries, accounting for inventory and receivables, long-term liabilities and depreciation, proper analysis of the notes to the financial statements, types of financial statements, and the CPA opinion. Several hands-on examples to reinforce the accounting concepts will also be included.

Authors

Agenda

The Four Financial Statements

• Income Statement

• Statement of Owner's Equity

• Balance Sheet

• Statement of Cash Flows

The Ten Step Accounting Cycle (Business Transactions to the Post-Closing Trial Balance)

Rules of Debits and Credits

Accrual vs. Cash Basis Accounting

Adjusting Entries

Accounting for Inventory and Receivables

Long-Term Liabilities and Depreciation

Analysis of the Notes to the Financial Statements

Types of Financial Statements and the CPA Opinion

Examples to Reinforce Accounting Concepts