Track: Financial Accounting and Reporting

The Blocking and Tackling of Derivatives: Accounting and Reporting

Monday, October 20, 2008
1:30 p.m. - 3:00 p.m.
Room: 511 ABC

Many accounting organizations are turning to treasury and finance to understand and implement the control structure around FAS 133. This session will cover FAS 133 qualifications, elections, exposure definitions, effectiveness testing approaches and the debit and credit concepts: the framework of FAS 133. The benefits, costs and risks of "special hedge accounting" will be outlined.

Speakers:

• Helen Kane
  President
  Hedge Trackers, LLC

Objectives

• Understand FAS 133 qualifications, elections, and exposure definitions
• Learn the FAS 157 valuation issues relevant to derivatives
• Determine the FAS 161 disclosure requirements for implementation in Q1of 2009

Pre-Requisites

• Basic knowledge of derivatives
• Interest in derivative accounting and reporting

Take-Aways

• Checklist for required FAS 133 documentation
• Sample of FAS 157 disclosure language

CPA Field of Study: ACCT