Who Should Participate
Anyone wishing to receive a brief overview of basic financial accounting terminology and mechanics, as well as bankers who have never attended an accounting class or need a refresher.
Make your attendance count towards your continuing professional education credits! The MBA will provide a certificate of attendance that you may submit to the appropriate advisory board.
You know that you need to understand basic accrual accounting if you ever want to be able to fully analyze business financial statements, but you dread the thought of taking a college-level accounting class because you just know that it will:
1) Be really boring
2) Take way too much of your time
3) Be too focused on making you an accountant rather than a banker
4) Not give you what you really need to know
Sound familiar? If so, then you need to attend this seminar. It was designed to give bankers what they need to know about basic accrual accounting topics, but no journal entries, T accounts, debits, or credits will ever be mentioned or used. We promise! During the day, we will discuss many important accrual accounting topics, including:
- The purpose of accounting: What is it supposed to do (and not do?)
- The basic elements of accounting (revenues, expenses, assets, liabilities, and equity)
- The most important accounting principles
- Normal (and abnormal) accounting procedures
- Accounting for costs: general principles
- Accounting for long-term asset costs
- Accounting for inventory costs
- Accounting for manufacturing (cost of goods sold) costs
- Accounting for revenues
- Important things to know about an audit opinion
Remember to bring a calculator!
John W. Reik is the founder and president of John Reik & Associates LLC, Business Training and Consulting, which can be found on the web at johnreik.com. This Minnesota-based firm, founded in 1980, works primarily with banks and bank trade associations. In addition, John has been a lecturer and Assistant Professor of Finance at the University of Minnesota for over 35 years and spent eight years as the senior credit trainer and manager of Credit and Finance Education for First Bank System [now U.S. Bank.] Previous to his position at the University of Minnesota, John worked as a financial analyst in the Automotive Assembly Division of Ford Motor Company. John is an honors graduate of Purdue University and the University of Minnesota and holds degrees in management, accounting, finance, and law.
Registration Fee (This fee includes materials, lunch and refreshments)
Note: You will be given the option to pay by credit card or to invoice your company during the checkout process.
Dates & Times
November 4, 2019
Check in: 8:45 AM
Program: 9:00 AM - 4:00 PM
Minnesota Bankers Association
8050 Washington Avenue South
Eden Prairie, MN 55344
Click here for directions
Lodging arrangements can be made at: Hyatt Place, Eden Prairie. Click here to make an online reservation, or call 952-944-9700 - dial “0” for the front desk, (Ask for the Minnesota Bankers Association rate of $148.00, plus tax)
The MBA reserves the right to cancel programs due to insufficient enrollment, instructor illness, or other reasons. Participants wishing to cancel must inform the MBA in writing prior to the event. Send cancellation notices to email@example.com. A cancellation fee of 25% of the program cost will be charged for withdrawing, or you may send a substitute. The full program fee will be charged for withdrawing after the event has taken place or a no-show.
If you have a disability that may affect your participation in this program - or any dietary issues - please send a statement regarding any special needs to firstname.lastname@example.org at least two weeks prior to the program. We will contact you to discuss accommodations.