Bank Accounting & Finance articles from February 2004

Bank Accounting & Finance archives from February 2004

New accounting for purchased loans and debt securities.
February 1, 2004... Historically, the accounting guidance for loans or debt securities acquired in a transfer, commonly referred to as a purchase, has been very broad and has resulted in diverse accounting practices. A new accounting rule provides more specific...

Time to improve accounting for mortgage-servicing rights.
February 1, 2004... In today's world of high-profile accounting restatements resulting from cooking the books and other corporate frauds, the investing public and other interested stakeholders have increased their focus on the accuracy and transparency of...

FAS-115: the effect on gains trading.
February 1, 2004... During the 1980s, regulators and others began expressing concerns about the appropriateness of using the amortized cost method to account for certain investments in debt securities. When the amortized cost method is used, gains and losses are...

Basel II: an update.(Capital Requirements)
February 1, 2004... The announcement last April by the Basel Committee on Bank Supervision (Basel Committee) that it would entertain one more round of comments on the second capital accord, Basel II, before finalizing it by the end of this year has galvanized US...

Update on interim financial reporting.(Auditing)
February 1, 2004... The Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) issued Statement of Auditing Standards (SAS) No. 100, Interim Financial Reporting (SAS-100), which supersedes SAS No. 7 (AU Section 722),...

New disclosures about nominating committees and investor communications.(SEC Update)
February 1, 2004... The Securities and Exchange Commission (SEC) recently adopted new disclosure requirements to make more transparent to security holders the operations of the boards of directors of public issuers. The SEC stated that the new requirements should...

Predatory lending: legislative and regulatory challenges.(Regulatory Outlook)
February 1, 2004... As with many issues confronting the financial services industry in general and commercial banks in particular, predatory lending has been around for quite a while, albeit in different forms and with different players. Notwithstanding its...