The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep fo...The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks展开更多
During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Account...During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Accounting Standards （IAS） 39, because it is believed that this delay might generate pro-cyclical effects. In response to the recommendations of G20, Financial Crisis Advisory Group （FCAG）, and other international bodies, the International Accounting Standards Board （IASB） has undertaken, since 2009, as a part of the project to replace IAS 39, a project （partially shared with Financial Accounting Standards Board （FASB）） aimed at introducing an expected loss model of impairment. Within the scope of this subset project, the IASB has previously issued two exposure documents proposing models to account for expected credit losses： an exposure draft （ED） Financial Instrument： Amortized Cost and Impairment, published in November 2009, and a supplementary document （SD） Financial Instrument： Impairment, published jointly with the FASB in January 2011. However, neither of the two proposals received strong support from interested parties. Recently, the IASB, after the FASB＇s decision to withdraw from the joint project and to develop a separate expected credit loss model based on a single measurement approach consisting in the sole recognition of lifetime expected credit losses, published a third proposal--Ahe so-called expected credit losses model （ED/2013/3 Financial Instruments： Expected Credit Losses）.展开更多
Tips①There is often a bank near areas that may have high concentrations of foreigners. This includes, near a university or in a central business district, these branches are also more likely to provide services in En...Tips①There is often a bank near areas that may have high concentrations of foreigners. This includes, near a university or in a central business district, these branches are also more likely to provide services in English.②You’d better not to go too far to find a branch, because there are some services you have to return to the branch in which you opened your account. This includes services such as resetting your account password. So it will be more convenient for you to open a bank account at a branch nearby.展开更多
By the end of 2013, Chinese large-scaled commercial banks have basically completed the construction of IT banking system, in order to provide technical guarantee of deepening business operation and operation managemen...By the end of 2013, Chinese large-scaled commercial banks have basically completed the construction of IT banking system, in order to provide technical guarantee of deepening business operation and operation management reform. This indicates that our national banking industry information technology has been in a new level. This paper, based on the operation principle of commercial bank safety, liquidity and profitability, makes research on improving commercial banking profit data timeliness, accuracy, integrity and realizing daily accounting profit. According to survey, the four big banks have proposed the prospect of 2013 full scope implementing daily accounting profit. Thus, this paper, based on the profit accounting status of four big banks of data center, analyzes the feasibility of daily accounting profit and puts forward the relevant solutions.展开更多
In the digital era, the mobile-empowered customers have new power in the palms of their hands, which means that their shoppingand buying behaviors are being totally transformed by the ability to buy anything at any ti...In the digital era, the mobile-empowered customers have new power in the palms of their hands, which means that their shoppingand buying behaviors are being totally transformed by the ability to buy anything at any time from any place. Bank account is the base camp ofmoney in economic activity, therefore who wins the mobile terminal who embraces bank accounts, who embraces bank accounts who achievesthe world, for the winner can master customer resource and business foundation. This passage focuses on the issue that how to create bankaccounts on mobile terminal for mobile banking industry in the digital era, introduced the developing background of mobile banking industry,analyzed the main challenges mobile banking industry faces, and finally concluded a workable mobile terminal-bank account problem solvingmodel from strategy level, technical level and marketing level.展开更多
Over the past decade the world banking industry has grown significantly and this has led to increasing sophistication and complexity in its practices.The industry has been affected by changes in the way in which it is...Over the past decade the world banking industry has grown significantly and this has led to increasing sophistication and complexity in its practices.The industry has been affected by changes in the way in which it is regulated and supervised,by changes in the nature of its products,by the way in which individual bank manages its own affairs and controls its assets and by the way in which it accounts to the outside world for its activities.These changes have probably been of more significance than those experienced in any other industry over the past few years.Hong Kong which is one of the foremost financial centres of the world,has experienced all of these changes,probably to a greater extent than most other parts of the world.Hong Kong is one of the world’s major international banking centres and has a thriving domestic banking community.There is a need to review our banking practices and their accounting and auditing implications.The BCCI and BCCHK events happened in mid—1991 should trigger us to further reassess the role of auditor(both external and internal)in this ever changing and fast moving industry in co—operation with local authorities such as the Banking Commission,Department of Monetary Affairs and Security Commission.A number of investigations and articles on the role of bank auditors have been done and written,these include the study of challenges faced by bank auditors in today’s environment (Seidman,1987),the examination of the changing role of the bank audit committee(Haugh and Bradley,1987)and new risks faced by bank auditors (Clark,1987).In this paper,we will try to identify some of the common problems which might have caused the banking crisis.We will examine the role of auditor and try to establish the responsibilities of auditor when performing an audit task in a banking environment with the view to reducing the chance of the crisis happening again,if not eliminated completely.The regulatory body will still be the Banking Commission,while auditor will assume a supporting role in the banking monitoring and reguatory functions.展开更多
Financial statements （FS） are tools which provide information to users for making business decisions. Among the organizations, banks are the firms which conducted and did business with risks. In particular, commerci...Financial statements （FS） are tools which provide information to users for making business decisions. Among the organizations, banks are the firms which conducted and did business with risks. In particular, commercial banks continue to play a dominant role in the whole system, and local commercial banks still have an edge in its widespread network across the country over foreign banks. This article is going to present the survey which clarifies the role of FS in commercial banks＇ loan decisions in Vietnam. Moreover, this paper also discusses FS＇s quality currently, thereby making suggestions for enterprises to enhance the usefulness of accounting information in borrowing activities. This paper has taken performance with 74 official employees in commercial banks in Vietnam. The results indicated the qualitative characteristics of banks when disclosing the financial statements. This article also gave the six oriented solutions to improvement of the loan decision-making by banks.展开更多
The aim of this study is to examine if the merger of banks improves the profitability of banks before and after the completion of the merger,in the Hellenic Banking System.For this reason,data were collected one year ...The aim of this study is to examine if the merger of banks improves the profitability of banks before and after the completion of the merger,in the Hellenic Banking System.For this reason,data were collected one year before the merger took place and then for the following years.The consequences of merging banks using different financial indicators,such as the capital ratio index,the foreign-to-equity index and the loan burden numerator,were also investigated.The effectiveness of interpreting the improvement of the bank’s financial image before and after the merger,for the years 2007-2016,years,before and after the Greek Financial Crisis,in the mergers carried out in the Hellenic Banking System was examined.展开更多
文摘The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks
文摘During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Accounting Standards （IAS） 39, because it is believed that this delay might generate pro-cyclical effects. In response to the recommendations of G20, Financial Crisis Advisory Group （FCAG）, and other international bodies, the International Accounting Standards Board （IASB） has undertaken, since 2009, as a part of the project to replace IAS 39, a project （partially shared with Financial Accounting Standards Board （FASB）） aimed at introducing an expected loss model of impairment. Within the scope of this subset project, the IASB has previously issued two exposure documents proposing models to account for expected credit losses： an exposure draft （ED） Financial Instrument： Amortized Cost and Impairment, published in November 2009, and a supplementary document （SD） Financial Instrument： Impairment, published jointly with the FASB in January 2011. However, neither of the two proposals received strong support from interested parties. Recently, the IASB, after the FASB＇s decision to withdraw from the joint project and to develop a separate expected credit loss model based on a single measurement approach consisting in the sole recognition of lifetime expected credit losses, published a third proposal--Ahe so-called expected credit losses model （ED/2013/3 Financial Instruments： Expected Credit Losses）.
文摘Tips①There is often a bank near areas that may have high concentrations of foreigners. This includes, near a university or in a central business district, these branches are also more likely to provide services in English.②You’d better not to go too far to find a branch, because there are some services you have to return to the branch in which you opened your account. This includes services such as resetting your account password. So it will be more convenient for you to open a bank account at a branch nearby.
文摘By the end of 2013, Chinese large-scaled commercial banks have basically completed the construction of IT banking system, in order to provide technical guarantee of deepening business operation and operation management reform. This indicates that our national banking industry information technology has been in a new level. This paper, based on the operation principle of commercial bank safety, liquidity and profitability, makes research on improving commercial banking profit data timeliness, accuracy, integrity and realizing daily accounting profit. According to survey, the four big banks have proposed the prospect of 2013 full scope implementing daily accounting profit. Thus, this paper, based on the profit accounting status of four big banks of data center, analyzes the feasibility of daily accounting profit and puts forward the relevant solutions.
文摘In the digital era, the mobile-empowered customers have new power in the palms of their hands, which means that their shoppingand buying behaviors are being totally transformed by the ability to buy anything at any time from any place. Bank account is the base camp ofmoney in economic activity, therefore who wins the mobile terminal who embraces bank accounts, who embraces bank accounts who achievesthe world, for the winner can master customer resource and business foundation. This passage focuses on the issue that how to create bankaccounts on mobile terminal for mobile banking industry in the digital era, introduced the developing background of mobile banking industry,analyzed the main challenges mobile banking industry faces, and finally concluded a workable mobile terminal-bank account problem solvingmodel from strategy level, technical level and marketing level.
文摘Over the past decade the world banking industry has grown significantly and this has led to increasing sophistication and complexity in its practices.The industry has been affected by changes in the way in which it is regulated and supervised,by changes in the nature of its products,by the way in which individual bank manages its own affairs and controls its assets and by the way in which it accounts to the outside world for its activities.These changes have probably been of more significance than those experienced in any other industry over the past few years.Hong Kong which is one of the foremost financial centres of the world,has experienced all of these changes,probably to a greater extent than most other parts of the world.Hong Kong is one of the world’s major international banking centres and has a thriving domestic banking community.There is a need to review our banking practices and their accounting and auditing implications.The BCCI and BCCHK events happened in mid—1991 should trigger us to further reassess the role of auditor(both external and internal)in this ever changing and fast moving industry in co—operation with local authorities such as the Banking Commission,Department of Monetary Affairs and Security Commission.A number of investigations and articles on the role of bank auditors have been done and written,these include the study of challenges faced by bank auditors in today’s environment (Seidman,1987),the examination of the changing role of the bank audit committee(Haugh and Bradley,1987)and new risks faced by bank auditors (Clark,1987).In this paper,we will try to identify some of the common problems which might have caused the banking crisis.We will examine the role of auditor and try to establish the responsibilities of auditor when performing an audit task in a banking environment with the view to reducing the chance of the crisis happening again,if not eliminated completely.The regulatory body will still be the Banking Commission,while auditor will assume a supporting role in the banking monitoring and reguatory functions.
文摘Financial statements （FS） are tools which provide information to users for making business decisions. Among the organizations, banks are the firms which conducted and did business with risks. In particular, commercial banks continue to play a dominant role in the whole system, and local commercial banks still have an edge in its widespread network across the country over foreign banks. This article is going to present the survey which clarifies the role of FS in commercial banks＇ loan decisions in Vietnam. Moreover, this paper also discusses FS＇s quality currently, thereby making suggestions for enterprises to enhance the usefulness of accounting information in borrowing activities. This paper has taken performance with 74 official employees in commercial banks in Vietnam. The results indicated the qualitative characteristics of banks when disclosing the financial statements. This article also gave the six oriented solutions to improvement of the loan decision-making by banks.
文摘The aim of this study is to examine if the merger of banks improves the profitability of banks before and after the completion of the merger,in the Hellenic Banking System.For this reason,data were collected one year before the merger took place and then for the following years.The consequences of merging banks using different financial indicators,such as the capital ratio index,the foreign-to-equity index and the loan burden numerator,were also investigated.The effectiveness of interpreting the improvement of the bank’s financial image before and after the merger,for the years 2007-2016,years,before and after the Greek Financial Crisis,in the mergers carried out in the Hellenic Banking System was examined.
