There are no schemes to try to overcharge on overdraft by reordering the accounting process, but rather a live person will usually call you to say that your account has been overdrawn, and how we can help.
Bank of New York, which was founded in 1784 by Alexander Hamilton, America's first Treasury secretary, knows that hostile acquisitions are rarely able to use an accounting process known as pooling, which is much kinder to the profitability of the combined firms than the alternative acquisition accounting.
For example, all requirements that begin with CFA were in the Accounting Classification Management Process of the Core Function.
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Banks are stuck with 40-year old branch accounting systems that process in overnight batch, said Schlesinger, who is based in the UK. The systems assume a customer goes through a branch.
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And that process of mental accounting ends up having a profound effect on the way we spend and invest.
The global public accounting firms have organization and process flow charts that describe governance structures and communications protocols within their global network structure.
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The agreement ends a contentious, and expensive, process begun in 2011 that sought a full accounting of the various breaches and subversions of the foreclosure process by lenders during the housing crash.
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The improved accounting lays the foundation for a process focus, and a deep analysis of how value is created finishes the job.
The Public Oversight Board, which monitors the process, lacks independence from the accounting profession, which funds and staffs it, and has little ability to punish miscreant auditors.
The IGT 2010 proxy goes on to say that the Audit Committee conducted a competitive process to select an independent registered public accounting firm for the 2011 fiscal year.
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There are standards for this sort of thing, like financial accounting standard 157 that requires a three-step valuation process.
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One of the problems is the still-opaque process the banks use to evaluate and mark securities holdings, loans and other assets to market, a process they have to repeat daily because of new accounting rules.
While the study suggests that confidence in the standards will improve with familiarity, as investors and analysts educate themselves the debate will move to the standard-setting process as well as the governance of the International Accounting Standards Board.
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"It'll certainly benefit China's reform process, " says Kevin Zhang, Beijing manager for the accounting firm Price Waterhouse.
In the process Brazil has become more and more important for Santander, accounting for some 18% of global profits in the first half of this year.
But in the process of buying the loans and packaging them up, investment banks retain some risk of loss, including accounting items like loans held for sale, loans held for investment, retained interests in the securitizations themselves, and so-called warehouse loans that keep the origination engines at the small mortgage lenders humming.
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