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Agenda/Faculty
Hotel/Other
Info Continuing
Education Credits
Don’t
miss this critical update of one of the most complex accounting standards
— one of the leading causes of restatements.
This
highly interactive program integrates lectures and cases that are designed
to highlight and clarify a host of implementation concerns.
WHY
YOU SHOULD ATTEND
(SEE PAGE 2 FOR DETAILS)
If
you or your clients are using derivatives to manage corporate risks
associated with interest rates, foreign currency exposures, or commodity
price risk, there’s a strong likelihood that you’ll want to account
for your derivatives transactions using “special hedge accounting.”
Unfortunately, qualifying for such treatment is no easy task. This
program is led by experts who can guide you through the standard and
assure that you’ll be able to comply with this most complicated
standard.
Among
the most complicated issues in this standard are the regulations that
pertain to hedge effectiveness testing and measurement. Companies often
have the discretion to define their own procedures, but not all
approaches will necessarily lead to the desired result. In most cases,
companies that fail to qualify for hedge accounting do so because of the
inadequacies of their own documentation. This pitfall is frequently
avoidable, and this program strives to identify the land mines that need
to be avoided in order to permit hedge accounting to be applied without
interruption.
This
intensive two-day conference reviews existing accounting guidance with
the expressed aim of helping you and/or your clients qualify for special
hedge accounting and outlines when to use “deferral” accounting and
when to “mark-to-market”. Working through real-life examples, the
presenters demonstrate how to account for different hedges. It is
crucial to learn how to determine the appropriate instruments before you
start the accounting practices for these complex instruments.
This
program includes a special session on implementing FAS 133 including
cases with alternative scenarios that will be presented providing an
opportunity to apply the concepts in FAS 133.
WHAT
YOU WILL LEARN
-
What
qualifies as a “derivative” under the FAS 133 definition, and
what doesn’t?
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How
do you identify “embedded” derivatives, and how to account for
them?
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Which
accounting procedures are appropriate for which types of derivatives
transactions?
-
What
are the various kinds of derivatives accounting, and when is each
type appropriate?
-
How
do you satisfy the documentation requirements to qualify for special
hedge accounting?
-
How
do you design prospective and retrospective effectiveness tests to
help you qualify for special hedge accounting?
-
How
do you determine what a “hypothetical derivative” is, and how is
it used?
-
How
do you need to modify a legacy accounting system to take into
consideration FAS 133 requirements?
Extend
Your Learning, with this Optional 1/2 day add-on Pre-Conference workshop
available at all locations:
BUILDING
BLOCKS OF DERIVATIVES-Financial Futures, Options and Swap Contracts
SEE WHAT RECENT
ATTENDEES HAD TO SAY!
"The
conference was excellent, it had great information. I really learned
a lot about derivatives and the FASB. I would definitely recommend
this to anyone using derivatives for many reason."
Sarah
N. Carlson, Investment Accountant
Principal
Global Investors
“Fantastic
course! This
course is essential for a basic understanding of SFAS 133 concepts.”
Julia
C. Schultz, Special Projects Leader
PPL
CORPORATION
“The
most informative and quality-based seminar I’ve ever attended!”
Christopher Cade, Senior
Consultant
PHARMACIA
& UPJOHN
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