Bank of America Term Paper
Accounting I
Comprehensive Variance Analysis including related events to explain and support the financial statements provided therein by the corporation.
-------------------------------------------------
Bank of America
-------------------------------------------------
SD&A Term Project
Tawhid Islam
Table of Contents
Introduction
History3
Management3
Operations4
Management3
Overview 5
Financial Statements
Balance Sheet6
Income Statement8
Cash Flow Statement10
Analysis
Conclusion11
HISTORY
In the late 20th century, North Carolina National Bank (NCNB) began acquiring banks that eventually numbered to several thousand forming Bank of America. Charlotte, North Carolina remains as the headquarters of Bank of America. Over the years, Bank of America has merged with many different financial institutions to provide its vast array of services in the global environment. Customers worldwide are able to access Bank of America products in services, making it one of the largest financial services companies.
MANAGEMENT Effective management is key to a company’s success and security. The current executive board of Bank of America consists of 11 members. * Brian T. Moynihan – Chief Executive Officer * Catherine P. Bessant – Global Technology and Operations Executive * David C. Darnell – Co-Chief Operating Officer * Anne M. Finucane – Global Strategy and Marketing Officer * Andrea B. Smith – Global Head of Human Resources * Terry P. Laughlin – Chief Risk Officer * Gary G. Lynch – Global Chief of Legal, Compliance, & Regulatory Regulations * Christine P. Katziff – Corporate General Auditor * Thomas K. Montag – Co-Chief Operating Officer * Ron D. Sturzenegger – Legacy Asset Servicing Executive * Bruce R. Thompson – Chief Financial Officer
These key players assess the needs of the company and ensure that the proper contingents are in place to execute them in order to achieve the goals of the
Comprehensive Variance Analysis including related events to explain and support the financial statements provided therein by the corporation.
-------------------------------------------------
Bank of America
-------------------------------------------------
SD&A Term Project
Tawhid Islam
Table of Contents
Introduction
History3
Management3
Operations4
Management3
Overview 5
Financial Statements
Balance Sheet6
Income Statement8
Cash Flow Statement10
Analysis
Conclusion11
HISTORY
In the late 20th century, North Carolina National Bank (NCNB) began acquiring banks that eventually numbered to several thousand forming Bank of America. Charlotte, North Carolina remains as the headquarters of Bank of America. Over the years, Bank of America has merged with many different financial institutions to provide its vast array of services in the global environment. Customers worldwide are able to access Bank of America products in services, making it one of the largest financial services companies.
MANAGEMENT Effective management is key to a company’s success and security. The current executive board of Bank of America consists of 11 members. * Brian T. Moynihan – Chief Executive Officer * Catherine P. Bessant – Global Technology and Operations Executive * David C. Darnell – Co-Chief Operating Officer * Anne M. Finucane – Global Strategy and Marketing Officer * Andrea B. Smith – Global Head of Human Resources * Terry P. Laughlin – Chief Risk Officer * Gary G. Lynch – Global Chief of Legal, Compliance, & Regulatory Regulations * Christine P. Katziff – Corporate General Auditor * Thomas K. Montag – Co-Chief Operating Officer * Ron D. Sturzenegger – Legacy Asset Servicing Executive * Bruce R. Thompson – Chief Financial Officer
These key players assess the needs of the company and ensure that the proper contingents are in place to execute them in order to achieve the goals of the