Accounting for Financial Instruments - Key Principles
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This course will provide an introduction to the principles behind the accounting entries for financial instruments. The course involves practical application of the accounting principles with a comprehensive case study involving the accounting entries for the financial instruments. There will be an overview of the impact of FRS 26 and IAS 39 on the accounting approach and entries. The IASB's project to replace IAS 39 with IFRS 9 will be discussed.
By the end of the course the participants will have a thorough knowledge of the issues to be considered when accounting for financial intrumentsand how the transactons flow through the accounting system to the balance sheet and P&L.
The course will assume prior knowledge of basic double-entry book-keeping. Participants should have an accounting background
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Further Details
THE FUNDAMENTAL PRINCIPLES -
KEY CONCEPTS OF FAIR VALUE, MARK TO MARKET AND HEDGING ACCOUNTING
Which method to apply?
The impact of each method on the balance sheet and P & L
OVERVIEW IAS 39 & FRS 26 ON THE ACCOUNTING APPROACH AND ENTRIES
Definitions and classifications
Steps in accounting process
Hedge accounting criteria, fair value and cash flow hedges, effectiveness
The replacement of IAS 39 with IFRS 9 - discussion of progress so far
BASIC ACCOUNTING CONCEPTS
Identifying accounting events – cashflow or accruals
Accruals accounting
Explanation of how multicurrency ledger accounting works
- Base currency
- Position accounts
- Revaluation process
Fair value, Mark to market and unrealised P & L
ACCOUNTING ENTRIES FOR A VARIETY OF FINANCIAL INSTRUMENTS
Foreign exchange contracts
Securities
Money market loans and deposits
Discounted instruments
Swaps
Futures
CASE STUDY
This Training Course is taught in classrooms in the following locations:
London WC
Information provided is for information purposes only and no guarantees are made with regards to accuracy. It is advised that all details are checked prior to making a booking. Contents © 1999 - 2012. All rights reserved.
