IIBF X Taxmann's Bankers' Handbook on Accounting – Essential resource for professionals focusing on the multifaceted and dynamic nature of banking accounting from fundamentals to advanced practices
About this ebook
• Fundamental Principles of Accounting
• Financial Statements of Banks
• Preparation of Financial Statements of Banks & Taxation
• Accounting Standards (Ind AS)
The current edition has also been updated based on banking experts and internal faculty feedback, focusing on practicality and current digital trends.
It is an invaluable resource for students, professionals, and anyone interested in banking accounting. It is structured to cater to both beginners and seasoned practitioners
The Present Publication is the 2024 Edition, updated by Ms Anita Toshniwal | Chartered Accountant. Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance with the following coverage:
• Module A – Fundamentals of Accounting
o Accounting | An Introduction – Explore the nature, purpose, and historical perspectives of Financial, Cost, and Management Accounting. Understand the origins and evolution of Accounting Principles
o Accounting Process – Understand the Accounting Process, comparing Manual and Computerized Accounting Systems. Analyse the differences and implications of manual versus computerised accounting
o Key Definitions and Terms – Gain a foundational understanding of crucial accounting terms and definitions
o Journal Use and Voucher Importance in Banking Transactions – Learn about using journals and the role of various vouchers in bank accounting systems. Examine the accounting systems of different banks
o Bank Reconciliation Statement – Introduction to the concept and importance of Bank Reconciliation Statements (BRS). Discuss the reasons for discrepancies between Cash Book and Pass Book and the preparation and advantages of BRS
o Depreciation Accounting – Understand the meaning, causes, and need for depreciation. Study various depreciation methods, including Straight Line and Written Down Value, and their advantages and disadvantages. Learn about the amortisation of intangible assets and fixed asset replacement
• Module B – Financial Statements of Banks
o Introduction to Bank Financial Statements – Overview of banking business and associated restrictions. Detailed look at the bank's book-keeping systems
o Advances and Asset Classification – Presentation and policy disclosures regarding advances. Deep dive into income recognition and asset classification
o Bank Cash, Balances, and Short-Term Assets – Analysis of cash, RBI balances, and short-notice assets.
o Fixed and Other Assets – Detailed examination of fixed and other asset presentations and policies
o Borrowings, Deposits, and Capital Accounts – Insight into the presentation and analysis of deposits, borrowings, capital, reserves, and surplus
o Liabilities, Provisions, and Contingent Liabilities – Understanding of other liabilities, provisions, and contingent liabilities
o Investments and Profit and Loss Accounting – Exploration of investment presentations and profit and loss accounting
o Disclosure Requirements and Consolidation – Comprehensive look at disclosure requirements and the consolidation of financial statements and branch accounts
• Module C – Preparation of Financial Statements of Banks & Taxation
o Final Accounts Preparation – Detailed guide on preparing final accounts for banks, including cash flow and funds flow statements
o Management Information Systems and Financial Reporting – Exploration of MIS in banking and its impact on financial reporting
o Accounting in a Computerised Environment – Discussion on the concept, advantages, and limitations of Computerized Accounting Systems
o Taxation | Direct and Indirect Taxes – Introduction to direct and indirect tax concepts and their application in banking
o Tax Provisions and Tax Planning – Detailed analysis of tax provisions related to Income Tax and GST and strategies for tax planning
• Module D – Accounting Standards (Ind AS)
o Scope, Statutory Provisions, and Compliances – Detailed exploration of Accounting Standards, including comparisons between US GAAP and IFRS
o Applicability of Ind AS – Discussion on the applicability of Ind AS to banks, financial institutions, and corporates
o Consolidated Financial Statements and Investment Accounting – In-depth look at consolidated financial statements, investment in subsidiaries, and standalone financial statements
o Accounting for Joint Ventures and Disclosures – Insight into accounting for jointly controlled entities and disclosure challenges under Ind AS.
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About the author
Established in 1928 as a Company under Section 25 of the Indian Companies Act, 1913, the Indian Institute of Banking & Finance (IIBF), formerly known as The Indian Institute of Bankers (IIB), is a professional body of Banks, Financial Institutions, and their employees in India.
The Institute is managed by a Governing Council comprising representatives of major Banks, the Reserve Bank of India, the Indian Banks' Association, the Institute of Banking Personnel Selection and an academician from the Indian Institute of Technology, Bombay.
During its 93 years of service, IIBF has emerged as a premier institute in Banking and Finance education for those employed and seeking employment in the sector and aiming for professional excellence. Since its inception, the Institute has awarded several Banking and Finance qualifications, viz., JAIIB, CAIIB, Diploma and Certificates, covering diverse and contemporary subjects in the Banking & Finance domains. Moreover, IIBF is the only Institute that offers all the courses mandated by the Reserve Bank of India for capacity building in banks. In addition, contemporary courses and training programmes have helped industry professionals sustain their professionalism through continuing professional development programmes.
IIBF offers a bouquet of courses on Banking & Finance to meet the needs and aspirations of the banking & finance personnel and students aspiring for a career in the banking & finance sector.
