Bank – is an organization, usually a corporation, chartered by a state or federal government, which does most or all of the following:organization corporationcharteredfederal government - 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.demand deposits time depositshonorsinstrumentspaysinterestdiscounts notesloansinvestssecurities collectschecksdraftscertifies depositor'sissues 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 commercial banksmerchant bankscentral 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 Export- Import 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:On the National Bank of UkraineOn Banks and Banking

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. accountheldinvestorfinancial institutionfinancialinstitution holdsmoneyleading positivecredit balanceloansnegativedebit balancebrokerage accountbuysellsecurities banksavingsTypessavings accounts checking accountsaccountheldinvestorfinancial institutionfinancialinstitution holdsmoneyleading positivecredit balanceloansnegativedebit balancebrokerage accountbuysellsecurities banksavingsTypessavings accounts 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.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. 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