This comprehensive two-day course provides an overview of the most important accounting and reporting requirements for derivatives and hedging activities in accordance with Topic ASC 815 (FAS 133, 138, 149, 150, 155, 156, 159, ASU 2017-12, and related pronouncements under US GAAP).
The course includes a review of significant accounting policies and necessary disclosures, in accordance with the pronouncements of:
- The Financial Accounting Standards Board (FASB)
- The Securities Exchange Commission (SEC)
- The Emerging Issues Task Force (EITF)
These requirements are explained in clear, simple language and illustrated with model journal entries, corporate annual reports, and other real-world examples. Application of the various standards is illustrated through the use of short case studies.
In addition to a review of current US GAAP developments, course participants receive information on likely future pronouncements and the probable impact of their adoption.
This course answers questions such as:
- What are the current and likely future requirements for hedge accounting under US GAAP?
- What is the probable impact of adopting new or proposed requirements?
- How are effective hedges designed, documented and tested?
- How are embedded derivatives identified and accounted for?
- What are the principal similarities and differences between US GAAP and IFRSs in the area of derivatives and hedge accounting?