Ensuring Accuracy in Call Reports: The Critical Importance of Schedules RC & RI
The schedules in the Call Report represent detailed information of line items reported in Schedule RC – Balance Sheet, and Schedule RI – Income Statement. If the information reported in Schedules RC and RI is incorrect, the entire Call Report could contain errors. Understanding the reporting requirements for these key schedules will aid in the proper and accurate completion of the additional RC and RI schedules.
What You’ll Learn
Schedule RC: Learn what to report in each of the line items within Schedule RC.
- When to reclassify accounts out of assets and into liabilities
- How to report cash items in the process of collection
- Distinguishing between equity securities reportable in item 2.c and those reportable in other assets item 11
- Reporting requirements for loans held for sale and loans held for investment
- What to include and exclude from premises and equipment
- Reporting OREO and changes in value of the properties held in OREO
- Intangibles and measuring for impairment
- Reporting investments in unconsolidated subsidiaries
- Reporting deferred tax components as other assets and other liabilities
- What types of liabilities are included in total deposits
- Secured borrowings to include participations sold that fail to meet the accounting requirements established under ASC Topic No. 860
- Understanding various equity transactions and other equity components to include Other Comprehensive Income
Schedule RI: Learn what to report in each of the line items in Schedule RI.
- Reporting loan income by type code and what to include and exclude
- Reporting interest and dividend income on debt and equity securities to include the proper amortization of premiums on callable debt securities
- What to include in provisions for credit losses pre-CECL and post CECL.
- Reporting gains and losses on sales of investments, loans and other assets
- What fees should be reported as service charges on deposit accounts
- Major categories of non-interest expense items and what to include in each category
- How to allocate other noninterest income and expense items for further reporting in Schedule RI-E.
- Reporting income tax expense under the accrual method of accounting
Who Should Attend
Call Report preparation requires knowledge of bank accounting, bank regulations, and virtually all bank operations. Annual training is highly recommended by regulators. Banks should have a trained preparer and a trained reviewer. Anyone responsible for preparing, reviewing, or signing a Call Report will find this program valuable. Both new and experienced preparers and reviewers will benefit from this update and the continued discussion on accounting and financial reporting matters.
Cynthia Dopjera, a Certified Public Accountant, has 38 years of experience focused on accounting and regulatory reporting for financial institutions. During the first 18 years of her career, Ms. Dopjera held various positions with responsibility across all operational areas, to include accounting, internal audit, Call Report preparation and review while working for community as well as regional banks.
In 2000, Ms. Dopjera joined the public accounting firm of Harper & Pearson Company, P.C., where she served as Practice Leader for the firm’s financial institutions practice covering community and regional institutions. The firm’s services included financial statement audit, accounting, tax preparation and filing, internal control audit, Call Report audit, loan and asset quality review, and design and implementation of internal controls over financial reporting frameworks for institutions regulated under FDICIA and Sarbanes-Oxley. In 2018, Ms. Dopjera retired from Harper & Pearson Company, and currently provides accounting, consulting, and training services to financial institutions.
Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $279
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- Apr 04 2023
- 10:00 am - 12:00 pm