13

Accounts of Banking Companies

LEARNING OBJECTIVES

After studying this chapter, you should be able to:

  1. Define bank, banking company and scheduled bank.

  2. Appraise business of banking companies.

  3. Understand and interpret minimum paid-up capital and reserves.

  4. Know the details of unclaimed deposits and liquidity requirements.

  5. Enlist the principal books of accounts of a banking company, subsidiary ledgers, other books and registers and statistical books, and their usage.

  6. Understand the salient features of banking accounting.

  7. Know the meaning and significance of SLIP system of ledger posting.

  8. Prepare and present final accounts of banking companies.

  9. Know the usage of different formats of schedules to be furnished with balance sheet (Schedules ...

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