Bank – is an organization, usually a
corporation, chartered by a state or federal
government, which does most or all of the
following:
- receives demand deposits and
time deposits, honors instruments drawn on
them, and pays interest on them; discounts
notes, makes loans, and invests in securities;
collects checks, drafts, and notes; certifies
depositor's checks; and issues drafts and
cashier's checks.
The Banking System
of Ukraine
Banking system – is the system of
banks in a country, including
commercial banks, merchant banks
and the central bank
Banking System of Ukraine
The modern banking system is the
most important sphere of national
economy of any developed country.
Banks are one of the main
components of the system of market
structure. The development of their
activities is a necessary condition for
the establishment of market
mechanism.
The banking system of Ukraine was founded
after the adoption by the Verkhovna Rada of
Ukraine in March 1991, the Law of Ukraine
“On Banks and Banking”. It is a two-level and
consists of the National Bank of Ukraine and
banks of various types and forms of
ownership including the state-owned ExportImport Bank and a specialized commercial
Savings Bank. Today, Ukraine has 159 banks,
15 commercial banks with mixed capital,
among which 5 banks have 100% foreign
capital, and registered as Ukrainian economic
entities. The National Bank of Ukraine serves
as the country's central bank which pursues a
uniform state monetary policy to ensure the
national currency stability.
Commercial banks are formed as joint-stock
companies or as companies on an equal footing
with both legal and natural persons involved. The
range of commercial banks activities includes:
receiving deposits of enterprizes, institutions and
households, crediting of economic entities and
households, investments in securities, formation
of cash balance and reserves, as well as other
assets, cash and settlement servicing of the
economy, foreign exchange operations and other
services to natural persons and legal bodies.
The banks act in accordance with the
Constitution of Ukraine, the Laws of
Ukraine "On the National Bank of Ukraine",
"On Banks and Banking", the Ukrainian
legislation on joint-stock companies and
other economic entities, as well as with the
normative regulations of the National Bank
of Ukraine and their Statutes.
According to the rating of banks by assets
and liabilities at the end of 2009 the best
are:
Bank account - an account held by an investor
at a financial institution. The financial institution
holds the money for the investor, leading to a
positive or credit balance, or loans money to
the investor, leading to a negative or debit
balance. Unlike a brokerage account, which
allows an investor to buy and sell securities, a
bank account is used for savings. Types of
bank accounts include savings accounts and
checking accounts.
What does an accountant do in the
bank?
He has to count everybody’s
money
in the bank and keep оn
а record
how much they spend.
Bank accountants, or an accountant for a bank,
perform most of the same functions of an
accountant for any other type of business.
Accounting is the classifying and recording of
financial transactions. This is always the purpose
and responsibility of the accountant regardless of
what type of company employs him. However,
banks have small procedural differences that
make them slightly different from other
businesses.
The bank accountant
is
responsible for…
preparing the cash position of his
organization on a daily, weekly
and monthly frequency
the accountant prepares the cash
reports and provides them to
management for review
preparing or assisting in the
preparation of financial statements at
the end of each month and quarter
general accounting
closing the branch or branches' books
at the end of each month
ensuring that the bank's accounting
practices, classifications and reporting
adheres to compliance and regulatory
standards
preparing and posting adjusting entries