Can you do a tutorial on how Bank Accountant perform their duties. From posting entries to finalization. What are the usual transactions and how Accountant records and what are the journal entries for that etc. Thanks
As a former accounting dept staffer and tech analyst with majors I can say fairly securely that the recording is done via hierarchy approval (everyone has a boss who reviews and signs off), with specific areas of the balance sheet and income statement divided up among many staff accounting persons (this could wind up being many dozens or even hundreds if you looked all all people), who have responsibility for their entries, then this is all reviewed by an overall bank-wide reporting and supervision entity, this could be called "CFO dept" or "Chief Accountant" . . there could be many names. Typically there will be very highly formal and systematic numbering systems for JE, which reflect the origins, and oversight of those entries. Each sub department will have mapping and current duty charts showing everyone involved. There will be interim meetings among the division managers who report on what anomalies still need resolution, and how they deem things will proceed. The big banks will have tried to automate the big, obnoxious entries like posting of loans receivable activity, accrued interest, payments, escrow activity, and so forth as much as possible (these are almost always separate and elaborate sub systems, often several). Most banks will have attempted to minimize the intercompany aspects because this close itself is bad enough (it's very complex; we worked round the clock on day 3) and the consolidation should be kept from getting insane, and there are strict rules around capital flows into and out of broker-dealer subs. The ultimate finalization comes from this top level portion, and they will initiate various investigations, or troubleshooting if anomalous outages appear to exist. This same department will be filing for the S.E.C. and regulators.
Can you recommend a book (maybe from Springer, or Irwin Series, or Kluwer) that explaine how to calculate the multi-variate integral calculu of the in flows and out flows of all the loans that a bank, cureently has outstandingg? I am not an accountant uut a novice. I want to start with FRACTIONAL RESERVES and , the, total the aggregate profits. (P.S.: I have an 832 Equifax F.I.C.O. Score and a Green Star on my driver's license)
Here it is, also known as loan officers, credit officers work at financial institutions and assist clients with loan applications. Their duties include screening loan requests, evaluating clients' financial information, assessing risk ratios, and presenting approved or rejected loans to management.
Can you do a tutorial on how Bank Accountant perform their duties. From posting entries to finalization. What are the usual transactions and how Accountant records and what are the journal entries for that etc. Thanks
I will put that on the video schedule, thanks for the comment
@@Rabcpafirm thanks
As a former accounting dept staffer and tech analyst with majors I can say fairly securely that the recording is done via hierarchy approval (everyone has a boss who reviews and signs off), with specific areas of the balance sheet and income statement divided up among many staff accounting persons (this could wind up being many dozens or even hundreds if you looked all all people), who have responsibility for their entries, then this is all reviewed by an overall bank-wide reporting and supervision entity, this could be called "CFO dept" or "Chief Accountant" . . there could be many names. Typically there will be very highly formal and systematic numbering systems for JE, which reflect the origins, and oversight of those entries. Each sub department will have mapping and current duty charts showing everyone involved. There will be interim meetings among the division managers who report on what anomalies still need resolution, and how they deem things will proceed.
The big banks will have tried to automate the big, obnoxious entries like posting of loans receivable activity, accrued interest, payments, escrow activity, and so forth as much as possible (these are almost always separate and elaborate sub systems, often several). Most banks will have attempted to minimize the intercompany aspects because this close itself is bad enough (it's very complex; we worked round the clock on day 3) and the consolidation should be kept from getting insane, and there are strict rules around capital flows into and out of broker-dealer subs. The ultimate finalization comes from this top level portion, and they will initiate various investigations, or troubleshooting if anomalous outages appear to exist. This same department will be filing for the S.E.C. and regulators.
Thank you for this, Im starting my new job in a bank and although it’s a lot of income. I am so so nervous. Haha
Cool😊
thank you for explaining, it really helped. ^^
No problem Herticate
Thanks You
Thanks.
Can you recommend a book (maybe from Springer, or Irwin Series, or Kluwer) that explaine how to calculate the multi-variate integral calculu of the in flows and out flows of all the loans that a bank, cureently has outstandingg? I am not an accountant uut a novice. I want to start with FRACTIONAL RESERVES and , the, total the aggregate profits. (P.S.: I have an 832 Equifax F.I.C.O. Score and a Green Star on my driver's license)
Thanks sir, but I wanted to know the role of the credit officer
Here it is, also known as loan officers, credit officers work at financial institutions and assist clients with loan applications. Their duties include screening loan requests, evaluating clients' financial information, assessing risk ratios, and presenting approved or rejected loans to management.
Ok sir thanks for explaining
Pls the last question sir are there some specific branches in Maths related to Banking and Accounting?
@@takanglorient5554 No problem
@@takanglorient5554 Just basic math and bookkeeping is need for bank accounting
And how does the bank have all those information about the way the particular manage their own money
Good Question