Tag Archives | Bank

Verification of Assets and Liabilities of a Bank | Auditing

In this article we will discuss about the verification of assets and liabilities in a bank: 1. Cash and Bank Balances 2. Deposits and Other Accounts 3. Acceptances, Endorsements and Other Obli­gations 4. Borrowings from Others 5. Loans and Advances 6. Investments 7. Bills Purchased and Discounted 8. Inter-Branch, Inter-Company, and Overseas Transactions 9. Money at Call and Short Notice. [...]

By |2017-06-20T20:12:54+00:00June 20, 2017|Bank|Comments Off on Verification of Assets and Liabilities of a Bank | Auditing

7 Main Types of Non-Cash Bank Transactions

The following points highlight the seven main types of non-cash transactions. The types are: 1. Demand Drafts and Telegraphic Transfers 2. Travellers Cheques and Letters of Credit 3. Any Time Money (ATM) Cards have Made Traveller Cheques 4. Acceptances, Endorsements and Other Obligations 5. Bills for Collection 6. Bills Purchased and Discounted 7. Rebate on Bills Discounted. Non-Cash Bank Transactions: [...]

By |2016-06-28T10:12:41+00:00June 28, 2016|Banking|Comments Off on 7 Main Types of Non-Cash Bank Transactions

Top 7 Accounting Policies for Banking Companies

The following points highlight the top seven accounting policies for banking companies. The policies are: 1. General 2. Transactions Involving Foreign Exchange 3. Investments 4. Advances 5. Fixed Assets 6. Staff Benefits 7. Net Profit. General: The accompanying financial statements have been prepared on the historical cost basis and conform to the statutory provisions and practices prevailing in the country. [...]

By |2016-06-28T10:12:41+00:00June 28, 2016|Banking|Comments Off on Top 7 Accounting Policies for Banking Companies
Go to Top