Bankers' Handbook on Accounting book by Indian Institute of Banking & Finance

This comprehensive guide is essential for understanding the multifaceted and dynamic nature of banking accounting. It meticulously covers every aspect of the field, from foundational principles to advanced accounting standards. It provides a deep understanding of the processes and practices pivotal in shaping financial reporting in the banking sector. It underscores the interlinkage and importance of an organisation's robust accounting and auditing systems. It serves as an essential resource for understanding the intricacies of banking accounting, covering the following:

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
Accounting | An Introduction – Explore the nature, purpose, and historical perspectives of Financial, Cost, and Management Accounting. Understand the origins and evolution of Accounting Principles
Accounting Process – Understand the Accounting Process, comparing Manual and Computerized Accounting Systems. Analyse the differences and implications of manual versus computerised accounting
Key Definitions and Terms – Gain a foundational understanding of crucial accounting terms and definitions
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
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
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
Introduction to Bank Financial Statements – Overview of banking business and associated restrictions. Detailed look at the bank's book-keeping systems
Advances and Asset Classification – Presentation and policy disclosures regarding advances. Deep dive into income recognition and asset classification
Bank Cash, Balances, and Short-Term Assets – Analysis of cash, RBI balances, and short-notice assets.
Fixed and Other Assets – Detailed examination of fixed and other asset presentations and policies
Borrowings, Deposits, and Capital Accounts – Insight into the presentation and analysis of deposits, borrowings, capital, reserves, and surplus
Liabilities, Provisions, and Contingent Liabilities – Understanding of other liabilities, provisions, and contingent liabilities
Investments and Profit and Loss Accounting – Exploration of investment presentations and profit and loss accounting
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
Final Accounts Preparation – Detailed guide on preparing final accounts for banks, including cash flow and funds flow statements
Management Information Systems and Financial Reporting – Exploration of MIS in banking and its impact on financial reporting
Accounting in a Computerised Environment – Discussion on the concept, advantages, and limitations of Computerized Accounting Systems
Taxation | Direct and Indirect Taxes – Introduction to direct and indirect tax concepts and their application in banking
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)
Scope, Statutory Provisions, and Compliances – Detailed exploration of Accounting Standards, including comparisons between US GAAP and IFRS
Applicability of Ind AS – Discussion on the applicability of Ind AS to banks, financial institutions, and corporates
Consolidated Financial Statements and Investment Accounting – In-depth look at consolidated financial statements, investment in subsidiaries, and standalone financial statements
Accounting for Joint Ventures and Disclosures – Insight into accounting for jointly controlled entities and disclosure challenges under Ind AS.