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    New 051 Call Report: Changes Effective on March 31

    $219.00
    *
    This webinar focuses on the proposed March 31, 2018 changes to the new FFIEC Form #051 Call Report for Small Institutions.

     

    All attendees will receive a complimentary -part Toolkit, which will include the following materials:

     

    • FFIEC 051 and 041 Optional Worksheet for Calculating Call Report Applicable Income Taxes (June 30, 2017)

     

    Overview

    Continuing their efforts to reduce data reporting and other burdens for small financial institutions, the three federal banking agencies - the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency - as members of the Federal Financial Institutions Examination Council (FFIEC) have proposed additional revisions to streamline several "Call Report" schedules. This revisions will take effect on March 31, 2018

    In this webinar, we will examine the proposed changes to the new FFIEC Form #051 Call Report for "Eligible Small Institutions," which are institutions with domestic offices only and total assets of less than $1 billion.

    We will cover important major changes to Schedules RI, RI-B, RI-E, RC, RC-B, RC-C, RC-K, RC-L, RC-M, and RC-N. We will also discuss the following two important changes: (1) Instructional Revisions for Reporting Assets as “Past Due” – Introduction of a new standardized approach to determining when Past Due Items first Appear on Schedule RC-N; and, (2) Revisions that Address Changes in Accounting for Equity Investments.

    Covered Topics

    • Major Changes to the Following Schedules:
      •       RI Income Statement
      •       RI-B Charge -Offs and Recoveries
      •       RI-E Report of Income – Explanations
      •       RC Balance Sheet
      •       RC-B Securities
      •       RC-C, Part 1 Loans and Leases
      •       RC-K Quarterly Averages
      •       RC-L Derivatives and OBS Items
      •       RC-M Memoranda
      •       RC-N Past Due and Non-Accrual Loans, Leases and Other Assets
    • Instructional Revisions for Reporting Assets as “Past Due” – Introduction of a new standardized approach to determining when Past Due Items first Appear on Schedule RC-N
    • Revisions that Address Changes in Accounting for Equity Investments 

    Who Should Attend? 

    This informative session is designed for staff who review or are responsible for Call Report accuracy, including:

    • CFOs
    • Controllers
    • CEOs
    • Internal Auditors
    • Supervisory Committee Members, and
    • Board members

     

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    All attendees will receive a complimentary -part Toolkit, which will include the following materials:

     

    • FFIEC 051 and 041 Optional Worksheet for Calculating Call Report Applicable Income Taxes (June 30, 2017)

     

    Overview

    Continuing their efforts to reduce data reporting and other burdens for small financial institutions, the three federal banking agencies - the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency - as members of the Federal Financial Institutions Examination Council (FFIEC) have proposed additional revisions to streamline several "Call Report" schedules. This revisions will take effect on March 31, 2018

    In this webinar, we will examine the proposed changes to the new FFIEC Form #051 Call Report for "Eligible Small Institutions," which are institutions with domestic offices only and total assets of less than $1 billion.

    We will cover important major changes to Schedules RI, RI-B, RI-E, RC, RC-B, RC-C, RC-K, RC-L, RC-M, and RC-N. We will also discuss the following two important changes: (1) Instructional Revisions for Reporting Assets as “Past Due” – Introduction of a new standardized approach to determining when Past Due Items first Appear on Schedule RC-N; and, (2) Revisions that Address Changes in Accounting for Equity Investments.

    Covered Topics

    • Major Changes to the Following Schedules:
      •       RI Income Statement
      •       RI-B Charge -Offs and Recoveries
      •       RI-E Report of Income – Explanations
      •       RC Balance Sheet
      •       RC-B Securities
      •       RC-C, Part 1 Loans and Leases
      •       RC-K Quarterly Averages
      •       RC-L Derivatives and OBS Items
      •       RC-M Memoranda
      •       RC-N Past Due and Non-Accrual Loans, Leases and Other Assets
    • Instructional Revisions for Reporting Assets as “Past Due” – Introduction of a new standardized approach to determining when Past Due Items first Appear on Schedule RC-N
    • Revisions that Address Changes in Accounting for Equity Investments 

    Who Should Attend? 

    This informative session is designed for staff who review or are responsible for Call Report accuracy, including:

    • CFOs
    • Controllers
    • CEOs
    • Internal Auditors
    • Supervisory Committee Members, and
    • Board members

     

    Presenter:

    Paul J. Sanchez

    Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors. He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination. He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, “Accounting Basics for Community Financial Institutions” (Financial Managers Society, 2 nd edition, Chicago, 2009) and the “Ideas an Analysis Letter: The Sanchez Take” (see www.sanchez-psa.com). As a contributing author, his chapter on ‘An Auditor’s Approach to Risk-Based Auditing: What to Audit and When,’ is included in the textbook, “Effective Auditing for Corporates: Key Developments in Practice and Procedures,” (Bloomsbury Information, Ltd, London, 2012).