Course Outline
 

Course Title

  

Generally Accepted Accounting Principles and Hedge Accounting

Course Category

    Online
Target Audience  

Internal auditors, inspectors, financial controllers, accountants, back-office staff, compliance officers, treasurers and financial control staff, external auditors

Continuing Education

  

16 MX CE Credits

Prerequistes

   A solid understanding of accounting, or Course 501: Introduction to Accounting or Accounting for Derivatives
Understanding of options (Courses 212 or 223)
Understanding of futures and forwards (Courses 211 or 222)
Understanding of fixed income securities (Course 221)
Objectives   This course discusses Generally Accepted Accounting Principles for the recognition and measurement of derivative instruments. Upon completion of this course, you should be able to:
·1 Apply the basic recognition and measurement rules for financial instruments, including derivatives.
·2 Identify situations where hedge accounting rules are applicable.
·3 Understand the difference between a cash flow hedge and a fair value hedge, and apply the appropriate accounting treatment to each situation.
·4 Examine a corporation's hedging strategy, and determine its impact on the proper accounting treatment of a hedge.
·5 Interpret financial statements prepared in accordance with Generally Accepted Accounting Principles for the recognition and measurement of derivatives.
This course is divided into two parts: theoretical and practical. Exercises have been added throughout the theoretical part of this course to help you assess your level of understanding of the concepts covered.
Subject by level  

Topics  

Section 1: Introduction to Accounting Standards
-  Setting Accounting Standards: A Brief History
-  The 1980s: Case-by-Case Standard Setting
-  The 1990s: Going Public!
-  The 2000 Years: Recognition of Derivatives On-Balance-Sheet

Section 2: Accounting for Financial Instruments
-  Financial Instruments: assets and Liabilities
-  Categories of Financial Instruments: Held for trading, Held to maturity and Available for sale
-  Assigning Financial Instruments to a Category: Financial Assets and Financial Liabilities
-  Accounting Consequences of the Designations: Held-for-Trading, Available-for-Sale and Held-to-Maturity Instruments

Section 3: Accounting for Derivatives
-  Derivatives: The Accounting Standards' Definition
-  Derivatives Excluded from the Scope of the Accounting Standards
   
Duration   This online course is equivalent to an in-class course with a duration of 16 hours. Online courses are self-paced, and the time necessary to complete each course will vary with each student
Time to comple the course   Six months (user account can be deactivated after this period)
Date   Available now
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