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Depository and Lending Institutions: Banks and Savings Institutions, Credit Unions, Finance Companies, and Mortgage Companies: AICPA Audit and Accounting Guide
This guide summarizes new standards, guidance, and practices, and delivers "how-to" advice for handling audit and accounting issues common to the depository and lending institutions industry.
Updated as of June 1, 2010, the guide provides information related to the banking and savings institutions, credit unions, finance companies, and mortgage companies industries, including general information on the regulatory environment and prevalent banking and lending activities. The guide includes relevant guidance contained in the FASB Accounting Standards Codification™ and other technical sources and includes recent authoritative accounting developments in areas such as other-than-temporary impairments, fair value measurements, and transfers of financial assets. In addition, the guide provides guidance related to new and existing regulatory reporting matters, including updates to the FDI Act reporting requirements. The guide also offers clear and practical guidance on risk assessment and internal controls. All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s). A subject index has been added to the Guide for ease of use.
Updates significant to this edition include technical guidance contained
· FSP FAS 115-2 and FAS 124-2, Recognition and Presentation of Other-Than-Temporary Impairments (FASB ASC 320)
· FASB ASU No. 2009-16, Transfers and Servicing (Topic 860): Accounting for Transfers of Financial Assets
· FASB ASU No. 2009-17, Consolidations (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities
· AICPA TIS section 9110.16 “Example Reports on Federal Deposit Insurance Corporation Loss Sharing Purchase and Assumption Transactions”
· FASB Statement No. 141(R), Business Combinations (FASB ASC 805)
Updated as of June 1, 2010, the guide provides information related to the banking and savings institutions, credit unions, finance companies, and mortgage companies industries, including general information on the regulatory environment and prevalent banking and lending activities. The guide includes relevant guidance contained in the FASB Accounting Standards Codification™ and other technical sources and includes recent authoritative accounting developments in areas such as other-than-temporary impairments, fair value measurements, and transfers of financial assets. In addition, the guide provides guidance related to new and existing regulatory reporting matters, including updates to the FDI Act reporting requirements. The guide also offers clear and practical guidance on risk assessment and internal controls. All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s). A subject index has been added to the Guide for ease of use.
Updates significant to this edition include technical guidance contained
· FSP FAS 115-2 and FAS 124-2, Recognition and Presentation of Other-Than-Temporary Impairments (FASB ASC 320)
· FASB ASU No. 2009-16, Transfers and Servicing (Topic 860): Accounting for Transfers of Financial Assets
· FASB ASU No. 2009-17, Consolidations (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities
· AICPA TIS section 9110.16 “Example Reports on Federal Deposit Insurance Corporation Loss Sharing Purchase and Assumption Transactions”
· FASB Statement No. 141(R), Business Combinations (FASB ASC 805)
- GenresAccounting
592 pages, Paperback
First published January 1, 2010
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