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Final Accounts of a Bank

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Regulations
 The preparation of a final account of a bank is regulated by
the following:
 The Ghana Companies Code provisons on final accounts of a
company
 The Banking Act, 2004 (Act 673)
 IAS 30 (Abolished)

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Financial Statements of Banks
 Statement of Profit and Loss and other Comprehensive
Income
 Statement of Financial Position
 Statement of Cash Flow
 Notes to the Financial Statement

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Explanation of terms in format
 Interest Income
Income form Loans xxx
Interest on overdraft xxx
interest on bills & bonds xxx
Interest on money at Call xxx
Income form short term funds xxx
xxx

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 Interest Expense
Interest on Savings Account xxx
Interest on time deposit xxx
Interest on current Account xxx
Interest on borrowing loans xxx
Reliefs from interest suspense A/c xxx
xxx

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 Fees and commission Income
Fees Income xxx
Commission Received xxx
Ledger Fees in turnover xxx
xxx

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 Other Operating Income:
Gain xxx
Dividend from investment xxx
Rent received/receivable xxx
xxx

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 Operating Expenses
Staff cost (Salaries & Wages of staff) xxx
Administrative expenses xxx
Advertising & Marketing expense xxx
Training xxx
Depreciation xxx
Directors Emoluments xxx
Auditors Remuneration & others xxx
xxx

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 Provision for Bad and Doubtful Debts
Actual Bad debts written off xxx
Specific bad debts provision xxx
General bad debts provision xxx
xxx

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 Other Income
Profit on sale of fixed assets xxx
Sundry income xxx
Bad debts recovered xxx
xxx

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Cash and Balance with Bank of Ghana
Cash in hand xxx
Balance with BoG xxx
Overnight deposit with discount xxx
xxx

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 Government Securities
Stocks and Bonds xxx
Treasury Bills xxx
xxx

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 Amount Due From other Banks and Fin. Institutions
(Nostro)
Cheques in course of collection xxx
Placement with other banks xxx
xxx

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 Investments in Other Securities:
Investment in unlisted equity security xxx
Investment in listed equity securities xxx
xxx

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 Loans and Advances to Customers
Overdrafts xxx
Loans xxx
Students Loan xxx
xxx

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 Investments
All investments in subsidiaries xxx

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 Other Assets
Debtors xxx
prepayments xxx
Accrued incomes xxx
xxx

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Customers Deposit
Current Account xxx
Time Deposit xxx
Savings deposit xxx
Certificate of deposit xxx
xxx

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 Amount Due to Other Banks and fin. Inst. (Vostro)
Amount due to other banks xxx
Deposit to other banks xxx
xxx

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 Long term loan and borrowings
Loan xxx

Creditors and Accruals


Creditors xxx
Accruals xxx
xxx

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