Accounting

Resources

Allowances for Credit Losses (ACL)
An ACL is a valuation account that is deducted from, or added to, the amortized cost basis of financial assets to present the net amount expected to be collected over the contractual term of the assets.

Bank Accounting Advisory Series 
The Bank Accounting Advisory Series expresses the Office of the Chief Accountant's views on accounting topics of interest to national banks and federal savings associations.

Accounting and Reporting for Mortgage Loan Commitments (OCC Bulletin 2005-18) | Interagency Advisory (PDF)
This bulletin and advisory cover origination of mortgage loans held for resale and sale of mortgage loans under mandatory delivery and best efforts contracts.

Deferred Compensation Agreement Accounting (OCC Bulletin 2004-10) | Interagency Advisory (PDF)
This bulletin and advisory cover proper measurement and reporting of deferred compensation agreements to avoid incorrect accounting.

Addendum to the Interagency Policy Statement on Income Tax Allocation in a Holding Company Structure (OCC Bulletin 2014-30)
The purpose of the addendum is to ensure that insured depository institutions in a consolidated group maintain appropriate relationships regarding the payment of taxes and treatment of tax refunds.

Income Tax Allocation in a Holding Company Structure (Interagency Statement, Federal Register, 11/23/1998) (PDF)
This interagency statement provides guidance on the allocation and payment of taxes among a holding company and its depository institution subsidiaries.

Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters (Interagency Advisory, Federal Register 71 FR 6847, 02/09/2006)
This interagency advisory addresses comments from interested parties regarding limit of liability provisions in external audit engagement letters.

Further Assistance

Please contact OCAMail@occ.treas.gov.