By R. Venkata Subramani
The 2008 monetary difficulty highlighted the necessity for accountable company governance inside monetary associations. the main to making sure that sufficient criteria are maintained lies with potent accounting and auditing criteria. Accounting for Investments: Equities, Futures and Options deals a finished evaluation of those key monetary tools and their therapy within the accounting region, with distinctive connection with the regulatory standards. The ebook makes use of the united states GAAP requisites because the normal version and the IFRS editions of a similar also are given.
Accounting for Investments starts off from the fundamentals of every monetary product and:
- defines the product
- analyses the constitution of the product
- evaluates its merits and disadvantages
- describes different occasions within the exchange cycle
- elaborates at the accounting entries on the topic of those events.
The writer additionally explains how the entries are mirrored within the basic ledger money owed, therefore supplying a macro point photo for the reader to appreciate the effect of such accounting.
Lucidly written and informative, Accounting for Investments is a complete consultant for any specialist facing those advanced items. It additionally presents an obtainable textual content for expertise specialists who strengthen software program and help platforms for the finance industry.
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Extra info for Accounting for investments
Interest on such debt instruments are recognized as income periodically on the due date on which interest is payable. A financial asset should be classified as held for trading if it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit taking. Even though the term “portfolio” is not explicitly defined in the accounting standard, the context in which it is used suggests that a portfolio is a group of financial assets that are managed as part of that group and if there is evidence of a recent actual pattern of short-term profit taking on financial instruments included in such a portfolio, those financial instruments qualify as held for trading even though an individual financial instrument may in fact be held for a longer period of time.
First an explanation of what is meant by derivatives in a financial instrument is explained, followed by a definition of derivatives as per US GAAP as well as IFRS accounting standards. Then the nuances of over-the-counter derivates are elaborated on comparing the same with exchange-traded derivative contracts. The benefits of interest rate derivatives are spelled out. The following common types of interest rate derivatives are briefly explained viz. forward rate agreements, interest rate swaps, caps, floors, interest rate collars, reverse collars, swaption, and crosscurrency swaps.
Indd xxviii 15/04/11 6:19 PM Preface xxix Chapter 5: Presentation, Disclosure & Reclassification—This chapter covers the current accounting standards for the presentation of financial instruments in the financial reporting system, the mandatory disclosures required for these financial instruments, as well as the requirements when an entity reclassifies the financial instruments. The presentation and disclosure requirements are very important as these give quantitative and qualitative information about the financial position of the entity and provide adequate information for the reader of the financial statements to understand the nature and extent of risks undertaken by the entity.